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Beneficiary

19 Nov

Posted at 12:10h in Beneficiary, End of Life Care Planning, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Quality of Life, Special Needs, Special Needs Trust, Trusts

Special needs trusts are often established for the benefit of individuals who are disabled since the assets held in the trust are not countable (if properly drafted) for means-tested Medicaid and Supplemental Security Income programs (which often include drugs and care costs).  The goal is...

10 Oct

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...

20 Sep

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

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...

26 Aug

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

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...

23 Aug

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.,...

26 Jul

Posted at 09:30h in Asset Protection, Beneficiary, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Trusts

After the passage of the Secure Act a few years ago, planning by naming a trust as a beneficiary of a retirement account (that is not a ROTH IRA) had to be reconsidered. Previously a designated beneficiary (even if the trust is named as the...

25 Jul

Posted at 09:18h in Beneficiary, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration

The Texas Supreme Court has ruled that a Medicaid applicant who purchases a home or an interest in a home after admission into a skilled nursing facility is not excluded as a resource for Medicaid eligibility. On the other hand, the Court suggests if the...

04 Jul

Posted at 11:17h in Alzheimer’s, Asset Protection, Beneficiary, Dementia, End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection

Researchers have found that people with 2 copies of the APOE4 gene is more than a risk factor – it is now considered an underlying cause of Alzheimer’s Disease. Prior to the research’s finding published in May, scientists knew the gene APOE4 increased risk. Although...