Michael Cohen Dallas Elder Lawyer |

13 Apr 7 Ways To Set Up An Account In Texas – Your Beneficiary May Not Be As You Intended

Posted at 12:47h in Beneficiary, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Transfer of Death, Trusts

There is often confusion as to who is the beneficiary of a bank account when an owner of the account dies. The type of account selected on a signature card determines how the account passes at death. Texas has a law on the seven (7) types...

12 Apr 12 Ways To Transfer Real Estate On Death In Texas

Posted at 12:55h in Beneficiary, Estate Planning, Guardianship, Lady Bird Deed, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Transfer of Death, Trusts

There are numerous ways to transfer real estate upon death depending on the facts and the type of planning – if any. The following are 12 of the ways property is transferred at death: Executor’s Deed. When the deceased has a will that has been admitted to...

11 Apr Future Success Story Of The Month? Will A QLAC Within An Ira Become The Latest Tool To Save Money In Care Costs?

Posted at 13:01h in Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Retirement, Social Security, Success Story of the Month

Recent changes under the Secure Act 2.0 that became effective January 1, 2023 may make a QLAC (Qualified Longevity Annuity Contract) a planning option for long-term care Medicaid which helps pay for nursing care and care at home. A QLAC is an annuity within your retirement...

07 Mar Will Charles Manson’s Helter-skelter Estate Battle Be Coming to a Dead End?

Posted at 11:02h in Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration

The battle over the estate of notorious murderer Charles Manson (who died in 2017) may soon be finally coming closer to a conclusion. However, it is likely that the hearing (set for later this month) will only get one step closer to finalization. Three people...

31 Jan Bill Passed For ABLE Account Age Adjustment

Posted at 10:39h in 529 plan, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Social Security, Special Needs, Special Needs Trust, Trusts

There is good news for those who are on Supplemental Security Income and Medicaid and who were disabled between ages 26 and 46. As of January 1, 2025, those who were disabled prior to ae 46 can establish an ABLE account and the funds will...

31 Jan 15 Ways To Avoid Guardianship Of The Estate

Posted at 10:28h in Beneficiary, Disability Benefits, Estate Planning, Guardianship, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Social Security, Special Needs, Special Needs Trust, Transfer of Death, Trusts, utma

Guardianship is often needed for an incapacitated person, but it is an expensive legal process which should be avoided if possible. Thus, planning should be considered as an alternative to guardianship. Texas law defines an “incapacitated person” as: 1) a minor; 2) an adult, who...

31 Jan 6 Advantages And Disadvantages Of A Will And A Revocable Living Trust

Posted at 10:24h in Asset Protection, Beneficiary, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Transfer of Death, Trusts, Wills

There is much debate among Texas attorneys as to whether it is better to have a Last Will and Testament or a Revocable Living Trust in estate planning. The simple answer is that it depends on the facts, your goals, the type of assets, cost...

20 Dec How Much Respect Will Same-Sex Marriages Be Given Under The Respect For Marriage Act?

Posted at 15:32h in Beneficiary, Business, Elder Justice, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Retirement, Social Security, Taxes

Last month President Biden signed into law the Respect for Marriage Act that achieved bipartisan support. The law gives protection of federal benefits to same-sex legally married couples who move to another state where the laws do not recognize same-sex marriage. For example, if a same-sex...

07 Dec 2023 Long Term Care Medicaid Income Cap Increase – When And How To Use A Miller Trust

Posted at 12:48h in Beneficiary, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Miller Trust, Nursing Home, Probate Administration, Social Security, Trusts

Applicants for long-term care and Star+ Medicaid must be below an income cap as one of the requirements for eligibility. If the applicant’s income exceeds the income limit of $2,742 (as of January 1, 2023), the eligibility solution for this particular requirement is the creation...

06 Dec 9 Things That Should Not Be In Your Will

Posted at 12:41h in Beneficiary, Divorce, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Transfer of Death, Wills

While it is often advisable to have a will, there are some things you should not include such as the following: Account information Your accounts can change from the time your will is signed to when your will is probated – even if you think you will...