Michael Cohen Dallas Elder Lawyer |

03 Nov Legal Anatomy: Simple Wills Could Lead To Big Problems

Posted at 11:49h in Beneficiary, Divorce, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Retirement, Special Needs, Special Needs Trust, Transfer of Death, Trusts, Wills

Although simple wills are sometimes adequate, planning for the worst-case scenario is the general perspective of the estate planning attorney. You don’t have to be wealthy to need estate planning. The following are facts of a case and solutions from the perspective of the estate...

07 Sep 8 Myths About Wills After the Testator Dies

Posted at 12:36h in Beneficiary, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Transfer of Death, Wills

Many do not know about probate. There is much confusion as the process varies from state to state. The following explains 8 myths about probate. Myth No. 1: If you have a will, the court must always approve the will through probate. Wills do not always have...

07 Sep 4 Strategies in Estate Planning for an Estranged Child – You Can’t Choose Your Family – the Days of Beaver Cleaver Are Over

Posted at 12:29h in Beneficiary, Disability Benefits, Divorce, Estate Planning, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Transfer of Death, Trusts, Wills

It is not unusual for a parent to become estranged from a child. So, often parents consider different ways to handle their estate planning for the benefit or detriment of the estranged child. Some of the many reasons that I have been told include: (1)...

20 Aug Where There Is A Will, A Beneficiary May Want To Be Named In It Per Stirpes Vs. Per Capita – Who Gets My Estate If A Beneficiary Predeceases Me?

Posted at 16:26h in Beneficiary, Charitable Giving, Estate Planning, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Wills

In drafting a will or a trust or in making a beneficiary designation, one of the most common questions that should be asked is “who would be entitled the share of my estate if a beneficiary predeceases me?” When you do not want to name...

20 Aug Should You Name A Trust As A Beneficiary Of A Retirement Account?

Posted at 16:12h in Asset Protection, Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Taxes, Trusts, Wills

Prior to the passage of the SECURE ACT, trusts named as a beneficiary of a retirement account could be prepared to stretch distributions (for tax-deferred growth) over the lifetime of the designated beneficiary. However, unless the beneficiary is either (1) a spouse; (2) someone less...

20 Aug Can Transfer On Death Deeds Be Fatal? 12 Problems With Transfer On Death Deeds

Posted at 16:08h in Beneficiary, Divorce, Estate Planning, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Power of Attorney, Probate Administration, Transfer of Death

Transfer on Death Deeds (TODDs) are a simple tool to pass real estate after your death to avoid probate or an heirship determination. You can change your mind and cancel the deed. You can even name contingent beneficiaries. TODDs have no adverse tax consequences, do...

20 Aug 10 Same-Sex Marital Rights That Could Be Lost After Scotus Roe Ruling

Posted at 16:05h in Asset Protection, Beneficiary, Elder Justice, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Retirement, Social Security, Taxes, Transfer of Death

Although the recent ruling by the Supreme Court of the US (“SCOTUS”) that there was no constitutional right to an abortion (and the case only dealt with abortion), Justice Clarence Thomas indicated in his decision that the constitutionality of same-sex marriage should also be reconsidered...

11 Jul Advantages And Disadvantages Of Community Vs Separate Property In Estate Planning

Posted at 11:04h in Beneficiary, Divorce, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Probate Administration, Transfer of Death

My wife and I have an equal partnership – as she says, “What is mine is mine, and what is yours we’ll negotiate”. However, notwithstanding the definition of property in your household, Texas has its own laws defining ownership of property. Texas is a community property...

11 Jul Success Story Of The Month – Overcoming A Defective Or Less Than Powerful Power Of Attorney

Posted at 10:53h in Beneficiary, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Notarizations, Nursing Home, Power of Attorney, Probate Administration, Success Story of the Month

What could go wrong when using a general durable power of attorney for an agent to sign a deed (in this case, a Ladybird deed) on behalf of the principal (the one who signed the power of attorney)? Are there additional powers that should be...

03 May Three Reasons Why Revocable Living Trusts Should Not Be Used For Long-term Care Medicaid

Posted at 17:43h in Asset Protection, Beneficiary, Business, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts

Revocable living trusts are useful in estate planning for many different reasons (avoidance of probate, privacy, quick transition of an on-going business, etc.) but there are only limited situations when they are helpful in planning for long-term care Medicaid which helps pay for nursing home...

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