Beneficiary

18 Aug SON OF AUSTIN POWERS CO-STAR SHAGGED BY COURT

Posted at 23:21h in Beneficiary, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Lawsuits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Trusts, Wills

SON OF AUSTIN POWERS CO-STAR SHAGGED BY COURTA California Appellate Court has reversed the Los Angeles Superior Court decision over the meaning of the term “grandchild” costing Damian Hurley, son of famed British actress Elizabeth Hurley and Steve Bing (although born out of wedlock), the sum of approximately $250 Million. The...

12 Jul FOUR WAYS TO PROTECT A SPECIAL NEEDS TRUST BENEFICIARY FROM WRONGFUL ACTS OF A FAMILY MEMBER TRUSTEE

Posted at 19:26h in Beneficiary, Estate Planning, Lawsuits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Trusts

It is very common for a family member to be named to serve as a trustee of a special needs trust of a loved one with special needs (usually to save money), but the recent felony charges for financial exploitation against a Minnesota mother who...

12 Jul 529 PLANS VS. UTMA: PROS & CONS

Posted at 19:14h in 529 plan, Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Taxes, utma

It is not unusual for parents and grandparents (as well as others) to want to help plan for payment of school and other expenses of a beneficiary who is a minor. A UTMA (Uniform Transfers to Minors Act) account is a custodial account usually established...

12 Jul PRIDE AND PREJUDICE? DID CHARLEY PRIDE’S WILL TREAT HIS SECRET SON UNFAIRLY? SIX STEPS TO REDUCE RISK OF A DISGRUNTLED BENEFICIARY

Posted at 18:49h in Beneficiary, End of Life Care Planning, Estate Planning, Inheritance, Lawsuits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Special Needs, Special Needs Trust, Transfer of Death, Trusts, Wills

It was recently reported in the Dallas Morning News that Tyler Pride (“Tyler”)”, who is the biological son of famed country-western singer Charley Pride (“Charley”), has contested the Last Will and Testament of his father. Tyler was not born of Charley’s long-time marriage to Rozene...

17 Jun FIVE TIPS ON DISINHERITING A CHILD OR REDUCING RISK OF SUCCESSFUL CHALLENGE TO YOUR ESTATE PLAN

Posted at 16:15h in Beneficiary, Estate Planning, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Transfer of Death, Trusts, Wills

There are various reasons why a parent would disinherit an adult child ranging from failure to communicate for a period of time to verbal disagreements. Under Texas law, there is no legal requirement to name a family member as a beneficiary. The following are suggestions to...

17 Jun SOLE BENEFITS TRUSTS COULD HELP NURSING HOME MEDICAID APPLICANT AND DISABLED BENEFICIARY

Posted at 16:10h in Assisted Living, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Special Needs, Special Needs Trust, Transfer of Death, Trusts

Sole benefits trusts are an exception to the transfer penalty rules for long-term care (i.e., nursing home, some assisted living facilities, etc.) Medicaid. Since most Americans have inadequate or no long-term care insurance and Medicare generally has very limited coverage for skilled care, many seek...

17 Jun IS THE HANDWRITING ON THE WALL A VALID WILL?

Posted at 16:04h in Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Wills

If a will written on the fender of a tractor or on the back of a photo or even a blank piece of paper with indentions could be considered valid by a court, could your handwriting on a wall be considered a valid will? It...

26 May CHARLES MANSON’S “GRANDSON” NOT REQUIRED TO TAKE DNA TEST IN HELTER SKELTER PROBATE BATTLE

Posted at 22:05h in Beneficiary, Estate Planning, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Wills

A California appeals court has overturned a lower court ruling requiring the DNA test of Jason Freeman (who has alleged to be the only living descendant and heir of notorious “Helter Skelter” murderer Charles Manson) to determine if he is in fact a blood descendant...

26 May NEW IRS PUBLICATION ERRONEOUSLY REQUIRES INHERITED IRA BENEFICIARIES TO PAY TAXES QUICKER

Posted at 21:59h in Beneficiary, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Taxes

IRS publication 590-B issued recently has surprised almost everyone with its erroneous proposal that designated beneficiaries (“DBs”) will need to take required minimum distributions (“RMDs”) of inherited individual retirement accounts (IRAs) in years one through nine following the year of death of the IRA owner....

26 May HOW TO PREVENT LOSS OF MEDICAID ELIGIBILITY WHEN SELLING YOUR HOMESTEAD

Posted at 20:27h in 529 plan, Assisted Living, Beneficiary, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Special Needs, Special Needs Trust, Transfer of Death, utma

Usually the most valuable non-countable resource for a long-term care Medicaid recipient (whereby the government helps pay for care costs at a long-term care facility plus medications if the applicant/recipient has less than $2,000 of countable resources) is the homestead. Although there is no equity...