Michael Cohen Dallas Elder Lawyer | Resources

10 Oct Are Beneficiary Designations Beneficial To My Beneficiary?

Posted at 13:17h in Asset Protection, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Retirement, Taxes, Transfer of Death, Veterans, Wills

Beneficiary designations (where you name one or more beneficiaries to receive assets of yours upon your death) are sometimes a great and simple tool in estate planning, but sometimes, they could lead to a disastrous result. Beneficiary designations supersede your will. Thus, there could be...

07 Oct 20 Common Mistakes When Completing A Nursing Home Medicaid Application Or Planning For Eligibility

Posted at 13:10h in Disability Benefits, Elder Justice, End of Life Care Planning, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Social Security, Special Needs, Special Needs Trust, Taxes, Trusts

The cost of long-term care is great (the average is around $7,500/month in Texas). As a result, many apply for long-term care Medicaid for governmental assistance to help pay for the facility and drugs. It is not unusual for us to receive calls after either...

01 Oct 5 Types Of A Power Of Attorney – How Do I Trust Thee? Let Me Count The Ways

Posted at 12:51h in Disability Benefits, Elder Justice, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Trusts

A common misconception is that there is one type of power that covers everything from financial to medical decisions. Even many who realize there should be different documents for medical and financial decisions, they are unaware of the variety of financial powers of attorney. The...

20 Sep Shannen Doherty’s Family Benefits From Deathbed Divorce in Contrast to Estate Planning to Limit Jackie O’s Inheritance

Posted at 16:20h in Asset Protection, Beneficiary, Divorce, Estate Planning, Inheritance, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Retirement, Trusts

Famed actress, Shannen Doherty, most commonly known for her television roles in “Beverly Hills 90210” and “Charmed”, got divorced from her husband, successful photographer, Kurt Iswarienko (“Kurt”), hours before her death in California on July 13, 2024. In contrast, Aristotle Onassis planned on divorcing former first...

11 Sep Fox News Future Depends on Murdoch’s Ability to Make “Right” Pick The Real Life “Game of Thrones”

Posted at 16:14h in Beneficiary, Business, Divorce, Estate Planning, Lawsuits, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Trusts

Billionaire media mogul, Rupert Murdoch, is in a family feud with 3 of his children over control (after his death) of his mega media business which includes Fox News, The Wall Street Journal, The New York Post and many other newspapers and television stations. Murdoch has...

05 Sep Casey Kasem’s Widow’s Response to His Children – “Over My Dead Body Will You Move Your Father’s Dead Body”

Posted at 16:01h in Dementia, Divorce, Elder Justice, End of Life Care Planning, Estate Planning, Guardianship, Lawsuits, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration

Casey Kasem, known for radio’s “Top 40 Countdown”, died in 2014, but the war over where he should be buried between the children of his first marriage and his widow is ongoing. After years of legal battles over elder abuse, wrongful death, guardianship and end of...

26 Aug Matthew Perry’s Estate Plan – A Friend to Many Even After Death

Posted at 10:38h in Beneficiary, Charitable Giving, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Transfer of Death, Trusts, Wills

Matthew Perry, well-known for his role as Chandler Bing in the popular television show “Friends”, preferred that he be remembered for helping others. Perry, who fought his addiction to alcohol and opioids for many years prior to his death last year at age 54, may have...

25 Aug IRS Announces Finalized Rule On When Inherited IRA Must Be Distributed – Pay Us Now Or Pay Us Later

Posted at 10:31h in Beneficiary, End of Life Care Planning, Estate Planning, Inheritance, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Taxes

The IRS announced its final rule on when an inherited IRA must be distributed to a beneficiary. If the owner of an IRA (or other retirement account) has already reached the date (the Required Beginning Date) when he or she is required to make distributions (70...

24 Aug Government Assistance for Care Could Depend on Homestead Definition

Posted at 10:16h in Assisted Living, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Taxes, Transfer of Death, Trusts, Veterans

Homestead Resource Exclusion Differences Between Medicaid and Veteran’s Benefits Public benefits (such as long-term care Medicaid and non-service-connected disability benefits for wartime veterans or his or her surviving spouse) are “means-tested”. In other words, the government looks at your resources when you apply to determine if you...

23 Aug Gift of Appreciated Assets to Elderly Parent Could Save You Taxes – Gain Without Pain?

Posted at 09:45h in 529 plan, Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Taxes

Avoiding capital gains tax is often considered in estate planning. Now some are considering “upstream planning” when a child has highly appreciated assets and his or her elderly parent does not have a taxable estate (for estate tax purposes). Generally, if you own an asset (i.e.,...

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