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Disability Benefits

04 Oct

Posted at 20:58h in Assisted Living, Charitable Giving, Disability Benefits, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Trusts, Veterans

As of October 18, 2018, planning to obtain certain Veterans (such as “improved pension” which includes aid and attendance) benefits for non-service connected disability will get much more difficult. Wartime veterans (or their surviving spouse) often get governmental assistance which helps pay for care costs...

06 Sep

Posted at 14:40h in Disability Benefits, Estate Planning, Inheritance, Long Term Care, Michael Cohen Dallas Elder Lawyer, Music, Probate Administration, Special Needs, Special Needs Trust, Taxes, Wills

Aretha Franklin, the beloved “queen of soul” died on August 16 with an estimated $80 million estate without a Will or other estate planning documents. She was survived by four sons – one of whom has special needs. Although her music and legacy will live...

31 Jul

Posted at 20:49h in Assisted Living, Disability Benefits, Long Term Care, Medicaid Planning, Nursing Home, Short Term Care

As fewer companies offer long-term care insurance since people are living longer (and insurance companies miscalculated increased life expectancy) and fewer policyholders dropped their policies, a new alternative has been developed for those who have poorer health – short-term care insurance. The trend in recent...

14 Jun

Posted at 18:08h in Asset Protection, Disability Benefits, Estate Planning, Financial Powers of Attorney, Long Term Care, Michael Cohen Dallas Elder Lawyer, Mortgage, Music, Power of Attorney, Texas Bar Today Top 10 Blog Posts

The law evolves as technology does, therefore planning must change as well. Most Americans now have “digital assets” – but probably don’t know what this type of asset is. A digital asset is an electronic record in which an individual has a right or interest....

14 Jun

Posted at 17:31h in Asset Protection, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Public Benefits Protection, Trusts, Wills

It is common for parents with simple wills or trusts to have their children inherit and have outright ownership of parents’ assets after the parents’ death.   However the following seven (7) reasons are advantages for the child to inherit by trust (not including, the power often...

22 Mar

Posted at 09:00h in Asset Protection, Beneficiary, Disability Benefits, Estate Planning, Home Equity, Long Term Care, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Success Story of the Month, Taxes, Wills

  Mom dies at age 99 with three (3) surviving children.  Mom has $50,000 in a bank account, $20,000 of debt and a home (which has homestead exemption) worth $150,000 that has no lien against it.  One daughter, age 70, is unmarried (hereinafter referred to as...

18 Dec

Posted at 09:00h in Alzheimer’s, Asset Protection, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Quality of Life, Social Security, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Wills

Last Monday we were requested to do a Will for an 89-year-old married woman who was just put on hospice. Due to her being on hospice, we put her as an immediate priority. Her 90-year-old husband has Alzheimer’s disease and is living in an institutional...

27 Nov

Posted at 11:00h in Beneficiary, Disability Benefits, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Trusts, utma

Since long-term care Medicaid (which helps pay some or all of a Medicaid applicant’s nursing home and drug costs) is “means-tested” (the government looks at the amount of assets and type of assets owned by the applicant), there are transfer penalty rules creating a certain...

20 Nov

Posted at 11:00h in Alzheimer’s, Asset Protection, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Quality of Life, Social Security, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts

Last Monday we were requested to do a Will for an 89-year-old married woman who was just put on hospice. Due to her being on hospice, we put her as an immediate priority. Her 90-year-old husband has Alzheimer’s disease and is living in an institutional...

04 Sep

Posted at 11:00h in Asset Protection, Disability Benefits, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Taxes, Transfer of Death, Trusts, utma

Although most Texas homes are a non-countable resource (if equity is under $603,000 as of January 1, 2021 if you are single, unlimited if you are married for Medicaid applicants) for long-term care Medicaid eligibility purposes, the state usually has a right to make a claim against the Medicaid recipient’s estate after...

20 Oct

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

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...

28 Jan

Posted at 09:18h in Asset Protection, Assisted Living, Disability Benefits, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Taxes, Trusts, Veterans

On January 8, 2016, the “Veterans Care Financial Protection Act of 2016” was introduced allegedly to protect individuals who are eligible for increased pension under laws administered by the Secretary of Veterans Affairs on the basis of need of regular aid and attendance from “dishonest,...

07 Nov

Posted at 06:00h in Disability Benefits, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Retirement, Social Security, Taxes

The President has signed the  “Bipartisan Budget Act  of 2015” on November 2 , 2015  that otherwise could have resulted in as much as thirty percent of Medicare beneficiaries seeing a fifty two percent increase in their monthly Medicare Part B premiums (which cover doctor’s...

29 Oct

Posted at 16:35h in Disability Benefits, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Social Security

On October 13 Michael B. Cohen spoke at the Baylor Institute for Rehabilitation on issues including Social Security Disability Income (SSDI), Medicare, Supplemental Security Income (SSI), the Medicaid Buy-In and other Medicaid programs. We are currently scheduling speaking engagements for 2016. Please call our office if...