Beneficiary

07 Aug NEW LAW MAKES IT EASIER TO TRANSFER TITLE TO VEHICLES ON DEATH

Posted at 12:00h in Beneficiary, End of Life Care Planning, Estate Planning, Lady Bird Deed, Medicaid Application, Medicaid Planning, Nursing Home, Probate Administration, Transfer of Death

As of September 1, 2017, it will be easier in Texas to transfer the title of motor vehicles on an owner’s death. Similar to the Transfer on Death Deed law passed in the state legislative session two years ago whereby real estate can be transferred...

03 Jul TRUST REFORMATION FOR TAX OR GOVERNMENTAL BENEFITS ELIGIBILITY PURPOSES BECOMES LAW

Posted at 11:00h in Beneficiary, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Trusts, Wills

On May 22, 2017, Governor Abbott signed a new law which allows a trust to be reformed if necessary or appropriate to achieve the tax objectives of the one who created the trust (the “trustor”) or to qualify a beneficiary for governmental benefits and is...

19 Jun TEXAS SENATE PASSES BILL FOR A BLOCK GRANT WITH REPEAL OR REPLACEMENT OF OBAMACARE LOOMING

Posted at 11:00h in Beneficiary, Divorce, Estate Planning, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security

The Texas Senate has passed a bill (which has been sent to the Texas House) to facilitate the design and development of a Medicaid block grant waiver so that there would be a continuation of joint funding by the federal and state governments while allowing...

22 May LADYBIRD DEED, TRANSFER ON DEATH DEED OR DEED OF GIFT – WHICH IS BEST?

Posted at 11:00h in Beneficiary, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Transfer of Death

There are numerous ways real estate can be transferred to avoid probate, but which way is best will depend on the circumstances. The most common choices are either a deed of gift, transfer on death deed or a Ladybird deed (which is an enhanced life...

15 May CAR TRANSFER ON DEATH MAY SOON GET EASIER

Posted at 11:00h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Transfer of Death, Wills

The Texas Legislature is presently considering a new law permitting a motor vehicle owner to simply designate who will be entitled to the car upon the owner’s death. If a car title is jointly owned, then the sale of the vehicle requires both owners. Also...

01 Mar CONGRESS CONSIDERING REFORMING MEDICAID WITH A PER CAPITA ALLOTMENT

Posted at 15:38h in Asset Protection, Beneficiary, Divorce, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home

At the present time, the federal government matches (in some states up to 70%) state funds budgeted for Medicaid. This is an incentive for states to allot more of their budget on Medicaid and be inefficient in their spending. Medicaid spending has soared to the...

20 Feb PLANNING FOR A CHILD WITH SPECIAL NEEDS

Posted at 09:30h in Beneficiary, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust

If you have a child who has special needs and you want your child to be a beneficiary of your estate, a standard will or trust may be insufficient. A few things to consider are as follows: If your child became disabled before age 26,...

20 Oct ABLE ACT BECOMES OFFICIAL IN FOUR STATES

Posted at 19:51h in 529 plan, Beneficiary, Disability Benefits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust, Trusts

Regulations have now been approved in four states (Ohio, Florida, Tennessee, and Nebraska) for the Achieving a Better Life Experience (ABLE) Act which permits disabled individuals (if they were disabled before age 26) or their families to set up a special savings account (similar to...

07 Sep WHAT DO YOU MEAN I CAN’T SAVE MY HOME IF A POWER OF ATTORNEY IS USED?

Posted at 09:02h in Beneficiary, Disability Benefits, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Retirement, Trusts

One of the most common misconceptions is that a Power of Attorney will be recognized by all financial institutions and title companies. Due to concerns about abusive actions of agents and potential liability, financial institutions and title companies often do not recognize financial Powers of...

11 Aug SPECIAL NEEDS TRUST FAIRNESS ACT GETS CLOSER TO APPROVAL

Posted at 09:04h in Beneficiary, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust, Trusts

The U.S. House Energy and Commerce Committee approved the Special Needs Fairness Act on July 13, 2016, as part of a package to improve Medicaid. The House bill had 26 co-sponsors including local Representative Pete Sessions. This legislation, which has already passed the Senate Committee,...

23 Jun COURT RULES BENEFICIARY CAN SUE EXECUTOR WITHOUT LOSING INHERITANCE DESPITE NO-CONTEST CLAUSE

Posted at 09:10h in Beneficiary, Estate Planning, Inheritance, Michael Cohen Dallas Elder Lawyer, Wills

It is not unusual for estate planning attorneys to insert a “no-contest” provision in a will, thus discouraging a beneficiary from contesting by risking loss of inheritance. Normally such provisions are enforceable. However, a Texas appellate court recently ruled that when a beneficiary simply sues...

16 Jun HOW TO PROTECT YOUR HOME, CAR, AND OTHER ASSETS FROM THE GOVERNMENT IF YOU RECEIVE MEDICAID

Posted at 20:18h in Beneficiary, Business, Estate Planning, Lady Bird Deed, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Transfer of Death

On June 1, 2003, the Texas Legislature passed a law requiring seizure of property in the estates of some Medicaid recipients after they die to repay the Medicaid programs for the assistance provided. The final rules published by the Texas Health & Human Services Commission...

09 Jun WHAT IS A MILLER TRUST?

Posted at 09:14h in Beneficiary, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Miller Trust, Nursing Home, Social Security, Trusts

**Please note that the Medicaid income and asset limitations are subject to change, please click here for 2018 Medicaid Numbers** Although “Miller” or “Qualified Income” Trusts have been around for over twenty years (this author has been doing them since they were first approved in Texas in...

02 Jun COURT RULES AGENT UNDER POWER OF ATTORNEY CANNOT DEED PROPERTY TO SELF

Posted at 09:03h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney

During the lifetime of the person who signed a power of attorney (hereinafter the “Principal”) which gave broad powers (including the right to deed property) to the Agent, the Agent deeded certain real property owned by the Principal to himself (the Agent). After the Principal...

26 May APPELLATE COURT RULES “GEORGE JEFFERSON” HAD CAPACITY TO SIGN HIS WILL

Posted at 09:13h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Wills

The attorney for Sherman Hemsley (who played the character George Jefferson in the television shows “All in the Family” and “The Jeffersons”) decided to not draft a will for his client since he feared a will contest due to Hemsley’s celebrity status. However, the attorney...

14 Jan Court Rules that Father Cannot Marry his Son

Posted at 08:00h in Beneficiary, Inheritance, Michael Cohen Dallas Elder Lawyer, Taxes

A Pennsylvania court recently ruled that a man who had adopted his same sex partner as his son in 2012, cannot annul his adoption so that he could marry his partner (adopted son). Prior to the U.S. Supreme Court decision which prohibited the ban by states...

11 Dec Congressional Bill Limits Use of Annuities in Medicaid Planning

Posted at 16:42h in Beneficiary, End of Life Care Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security

The House of Representatives has a proposed bill (HR 1771) that would change long established rules for the use of single premium immediate annuities in planning for the protection of a well-spouse (commonly referred to as the “community spouse”) if his or her spouse needs...

Medicaid Services

Beneficiary

07 Aug NEW LAW MAKES IT EASIER TO TRANSFER TITLE TO VEHICLES ON DEATH

03 Jul TRUST REFORMATION FOR TAX OR GOVERNMENTAL BENEFITS ELIGIBILITY PURPOSES BECOMES LAW

22 May LADYBIRD DEED, TRANSFER ON DEATH DEED OR DEED OF GIFT – WHICH IS BEST?

15 May CAR TRANSFER ON DEATH MAY SOON GET EASIER

01 Mar CONGRESS CONSIDERING REFORMING MEDICAID WITH A PER CAPITA ALLOTMENT

20 Feb PLANNING FOR A CHILD WITH SPECIAL NEEDS

20 Oct ABLE ACT BECOMES OFFICIAL IN FOUR STATES

07 Sep WHAT DO YOU MEAN I CAN’T SAVE MY HOME IF A POWER OF ATTORNEY IS USED?

11 Aug SPECIAL NEEDS TRUST FAIRNESS ACT GETS CLOSER TO APPROVAL

23 Jun COURT RULES BENEFICIARY CAN SUE EXECUTOR WITHOUT LOSING INHERITANCE DESPITE NO-CONTEST CLAUSE

02 Jun COURT RULES AGENT UNDER POWER OF ATTORNEY CANNOT DEED PROPERTY TO SELF

26 May APPELLATE COURT RULES “GEORGE JEFFERSON” HAD CAPACITY TO SIGN HIS WILL

14 Jan Court Rules that Father Cannot Marry his Son

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Beneficiary

07 Aug NEW LAW MAKES IT EASIER TO TRANSFER TITLE TO VEHICLES ON DEATH

03 Jul TRUST REFORMATION FOR TAX OR GOVERNMENTAL BENEFITS ELIGIBILITY PURPOSES BECOMES LAW

19 Jun TEXAS SENATE PASSES BILL FOR A BLOCK GRANT WITH REPEAL OR REPLACEMENT OF OBAMACARE LOOMING

22 May LADYBIRD DEED, TRANSFER ON DEATH DEED OR DEED OF GIFT – WHICH IS BEST?

15 May CAR TRANSFER ON DEATH MAY SOON GET EASIER

29 Mar PUBLIC BENEFITS COULD BE JEOPARDIZED WHEN YOU CREATE CROWDFUNDING (SUCH AS GOFUNDME) ACCOUNTS

08 Mar LIFE INSURANCE BENEFITS TO YOUR ESTATE PLAN

01 Mar CONGRESS CONSIDERING REFORMING MEDICAID WITH A PER CAPITA ALLOTMENT

20 Feb PLANNING FOR A CHILD WITH SPECIAL NEEDS

20 Oct ABLE ACT BECOMES OFFICIAL IN FOUR STATES

07 Sep WHAT DO YOU MEAN I CAN’T SAVE MY HOME IF A POWER OF ATTORNEY IS USED?

11 Aug SPECIAL NEEDS TRUST FAIRNESS ACT GETS CLOSER TO APPROVAL

23 Jun COURT RULES BENEFICIARY CAN SUE EXECUTOR WITHOUT LOSING INHERITANCE DESPITE NO-CONTEST CLAUSE

16 Jun HOW TO PROTECT YOUR HOME, CAR, AND OTHER ASSETS FROM THE GOVERNMENT IF YOU RECEIVE MEDICAID

09 Jun WHAT IS A MILLER TRUST?

02 Jun COURT RULES AGENT UNDER POWER OF ATTORNEY CANNOT DEED PROPERTY TO SELF

26 May APPELLATE COURT RULES “GEORGE JEFFERSON” HAD CAPACITY TO SIGN HIS WILL

14 Jan Court Rules that Father Cannot Marry his Son

11 Dec Congressional Bill Limits Use of Annuities in Medicaid Planning

09 Sep Happy 80th Birthday Social Security!