Most seniors will need to seek a better deal for a Medicare prescription drug plan for year 2013 if they are enrolled in Human Walmart-Preferred Rx Plan, First Health Part D Premier, First Health Part D Value Plus, Cigna Medicare Rx Plan One, Express Scripts...
There are many types of digital assets stored on computers, smart phones, websites, etc., including: (1) personal assets (such as photos, medical records, tax documents, etc.) that require a login with a different password; (2) social media (i.e., Facebook and Twitter, emails that store videos,...
In a somewhat stunning development, many veteran benefits planners are reporting that the Department of Veterans Affairs (VA) has started denying some applications for benefits in cases where the veteran has made a recent transfer to reduce net worth to obtain benefits. For many years...
Senate Bill 3270 has been introduced to require the Secretary of Veterans Affairs (VA) to consider the resources of individuals applying for non-service disability pension that were recently disposed of by the individuals for less than fair market value when determining the eligibility of such...
The recent Supreme Court decision permitting passage of the Affordable Care Act will result in 3.8% Medicare surtax beginning in January 2013 and will apply to all taxpayers whose income exceeds a threshold amount which effectively raises the marginal tax rate for some. The tax...
Although children are not generally responsible for a parent’s debts, 29 states have passed “filial support” bills whereby adult children can be pursued to pay the bills of their parents including their long-term care bills. A recent appellate court case in Pennsylvania allowed a nursing...
Although the 2nd Amendment of the U.S. Constitution gives the fundamental right to own a firearm, the National Firearms Act of 1936 regulates NFA firearms including, but not limited to, all fully automatic and select fire weapons, short-barreled rifles, shotguns and sound suppressors (silencers). If permitted under state law, you can own an NFA firearm. However, you have to pay a $200 tax on each firearm and you have to register them with the Bureau of Alcohol, Tobacco, Firearms and Explosives. Furthermore, unless you acquire them through a trust or other entity, you have to obtain the consent of your chief of police (which some may be reluctant to do). Failure to do so could result in criminal prosecution, a fine and the confiscation of the firearm(s).
We are pleased to announce that the August 2012 issue of Texas Monthly magazine has again selected Michael B. Cohen as the only elder law attorney (although listed under the category of estate planning) in the Dallas-Fort Worth area as a Five Star Wealth Manager...
Transfer Penalty Rules Different for those Seeking Medicaid Assistance at Home Most people in need of care would prefer to stay at home rather than go to a nursing home. However, if you don’t have long-term care insurance or other ways to pay for the cost...