Blog

16 Oct NEW MEDICAID TRANSFER PENALTY DIVISOR ANNOUNCED

Posted at 11:00h in Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home

Effective September 1, 2017, the “transfer of assets divisor” in Texas increased to $172.65 per day from $162.41. The increased figure applies to long-term care Medicaid applications in Texas submitted on or after September 1, 2017. When an individual needs long-term care (such as nursing...

09 Oct IRS GIVES TAX RELIEF FOR HURRICANE HARVEY AND IRMA VICTIMS

Posted at 11:00h in 401(k), Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement, Taxes

The Internal Revenue Service (IRS) has announced several items of tax relief for those who live or have businesses affected by Hurricane Harvey and Hurricane Irma including the following: Postponement of certain deadlines (such as extension of a 2016 tax return due to run out on...

05 Oct SENATE APPROPRIATIONS COMMITTEE APPROVES MAJOR INCREASE IN ALZHEIMER’S FUNDING

Posted at 11:00h in Alzheimer’s, Dementia, Michael Cohen Dallas Elder Lawyer

Through bipartisan support, the U.S. Senate Appropriations Committee has approved an additional $414 million increase in Alzheimer’s and dementia research. Congress has granted approval of similar increases in recent years and if this bill is signed into law, then federal funding into Alzheimer’s and dementia-related...

02 Oct ANTICIPATED TRUMP TAX REFORM PROPOSALS – WHAT IT MEANS TO YOU

Posted at 15:11h in Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Retirement, Taxes

Although details of President Trump based on prior statements tax proposals have not yet been released and this is mere speculation, here are a few of the anticipated tax reform proposals: For individuals: Double the standard deduction; Eliminate itemization deductions (other than contributions to retirement savings,...

25 Sep SUCCESS STORY OF THE MONTH

Posted at 11:00h in Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Success Story of the Month, Taxes, Wills

Mr. and Mrs. Smith (the names have been changed for confidentiality reasons) had the unusual situation where both of them had to go into a nursing home at approximately the same time. Neither Mr. nor Mrs. Smith has long-term care insurance. Both could live a...

18 Sep NURSING HOMES BENEFIT FROM RULE CHANGE – BUT WILL THE CONSUMER?

Posted at 12:00h in Assisted Living, Dementia, Elder Justice, Long Term Care, Michael Cohen Dallas Elder Lawyer, Nursing Home

The Trump administration has announced that it will undo the rule originally issued by the Obama administration that prevented nursing homes from requiring residents or their representatives to resolve disputes by arbitration (instead of being able to sue) as a condition of admission to the...

11 Sep NEW STUDY: EARLY DETECTIONS OF ALZHEIMER’S DISEASE THROUGH EYE SCREENING

Posted at 11:00h in Alzheimer’s, Michael Cohen Dallas Elder Lawyer

Data has suggested amyloid accumulation in the retina is an early event in Alzheimer’s disease. The inexpensive screening could be determined by giving a patient a pill of Curcumin (found in turmeric) as a fluorescent to light up the toxic amyloid protein deposits in...

04 Sep 10 WAYS TO PROTECT MY HOME (OR SALES PROCEEDS) FROM MEDICAID ESTATE RECOVERY

Posted at 11:00h in Asset Protection, Disability Benefits, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Taxes, Transfer of Death, Trusts, utma

Although most Texas homes are a non-countable resource (if equity is under $603,000 as of January 1, 2021 if you are single, unlimited if you are married for Medicaid applicants) for long-term care Medicaid eligibility purposes, the state usually has a right to make a claim against the Medicaid recipient’s estate after...

21 Aug WILL NEW LAW RESULT IN INCREASED ACCEPTANCE OF DURABLE POWERS OF ATTORNEY?

Posted at 11:00h in Business, Estate Planning, Financial Powers of Attorney, Guardianship, Lawsuits, Power of Attorney

Many are surprised that financial powers of attorney do not have to be recognized by others including banks and other financial institutions. If the principal (the one who signs the power of attorney) becomes incompetent and the one who is presented with and asked to...

14 Aug SPEECH PATTERNS COULD REVEAL MENTAL DECLINE

Posted at 11:00h in Alzheimer’s, Long Term Care, Short Term Care

Recent research indicates a change in speech such as more pauses, verbal changes, and filler words could be a signal of early mild cognitive impairment. If this study is accurate (and it is the largest one done for this purpose), it could be an...