Divorce

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 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...

11 Jul 10 Long-term Care Medicaid Myths

Posted at 11:07h in Assisted Living, Divorce, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Short Term Care, Social Security, Transfer of Death, Trusts

Originally long-term care Medicaid (which often helps pay for care at nursing homes, some assisted living facilities and care at home) was for the indigent. As we are reaching the silver tsunami, the long-term care Medicaid rules for eligibility become more important since most Americans...

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...

03 May Nine Exceptions To Lender Forcing Payment Or Foreclosing On Your Home When You Make A Transfer

Posted at 17:39h in Asset Protection, Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Probate Administration, Public Benefits Protection, Transfer of Death, Trusts

Whenever you borrow from a bank or other lender to purchase residential real estate or borrow against the equity, it is typical that there is a “due-on-sale” clause in your deed of trust or mortgage. This gives the lender the ability to require full payment...

03 May ‘Til Death Do Us Part – And Then My Marriage Can Be Voided

Posted at 17:31h in Asset Protection, Business, Divorce, Elder Justice, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration

You have probably heard stories when someone who is very old marries their caretaker or someone significantly younger (do you remember Anna Nicole Smith?) – especially when the older “spouse” has significant assets. However, you probably are not aware that Texas law permits a marriage...

03 May Success Story of the Month – “Where’s The Beef When We Saved Their Bacon?”

Posted at 17:20h in Beneficiary, Business, Dementia, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Short Term Care, Social Security, Special Needs, Special Needs Trust, Success Story of the Month, Taxes, Transfer of Death, Wills

Who says you can’t save more than the “maximum”? This case illustrates how you can protect more assets than the “maximum” pursuant to long-term care Medicaid rules. FACTS: Wife, 70, has dementia and needs long-term care. She has no long-term care insurance. She receives Social Security of...

13 Apr What Do Jerry Jones, Charley Pride And Charles Manson Have In Common?

Posted at 16:03h in Asset Protection, Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Inheritance, Lawsuits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Retirement

Last month a lawsuit was filed against Jerry Jones to determine if Jones is the father of a child (Alexandra Davis) who was not born of Jones’ marriage to his wife. Last year a will contest was filed against the Estate of Charley Pride by a...

15 Mar Eight Circumstances To Leave Assets In A Trust For Your Beneficiary

Posted at 21:00h in Asset Protection, Beneficiary, Charitable Giving, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Long Term Care, Medicaid Planning, Probate Administration, Public Benefits Protection, Taxes, Trusts, Wills

Instead of your beneficiary inheriting outright, below are eight situations whereby you may want a trust for various protection: If your beneficiary is a minor or too immature to handle assets If your beneficiary is a minor, then the beneficiary (as a matter of law) cannot make...

08 Dec Joint Account Owners Become Unhinged When Learning Six Reasons to Not Have a Joint Account

Posted at 20:07h in Asset Protection, Beneficiary, Disability Benefits, Divorce, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Taxes, Transfer of Death, Trusts, Wills

Although joint accounts are often used so that there is always one owner who can handle the assets in the account in the event of the death or disability of the other owner, there are many problems that one should consider before opening a joint...

11 Nov 2022 MAXIMUM RESOURCE LIMITS FOR SPOUSAL MEDICAID

Posted at 21:27h in Disability Benefits, Divorce, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security

(How to keep more for spouse if ill spouse needs to go into nursing home or needs care at home) As we live longer, there is a greater likelihood of disability and the need for long-term care. However, most Americans have inadequate resources or income for...

19 Oct USING POWER OF ATTORNEY FOR INTERSPOUSAL TRANSFERS HAS LEGAL ISSUES

Posted at 20:06h in Divorce, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Transfer of Death

Many think by signing a general durable power of attorney that the agent could do anything that the principal (the one who signs the power of attorney) could do. However, the authority of the agent is limited to the extent as permitted by law and...

18 Aug VERDICT ON JUDGE’S TRUST: YOU CAN’T ALWAYS GET WHAT YOU WANT

Posted at 23:47h in Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Inheritance, Lawsuits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Trusts, Wills

Although conditional bequests in a will or trust are normally upheld to give freedom that your assets pass the way you want at your death, sometimes conditional provisions are held to be either unconstitutional or void against public policy. The request for a new trial of a death row...

26 May MARILYN MONROE’S ESTATE PLANNING MISTAKE – MOST GOES TO ACTRESS SHE MAY HAVE NEVER MET

Posted at 20:20h in Asset Protection, Beneficiary, Business, Divorce, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Miller Trust, Probate Administration

Diamonds may be a girl’s best friend, but actress Anna Strasberg (who some say Monroe never met or only met once) received much more than that from the legendary actress – even though that was probably not Monroe’s intention. Monroe, who died in 1962, left her...

20 Apr WITH POWER COMES THE ABUSE OF POWER – HOW TO REVOKE A POWER OF ATTORNEY

Posted at 02:00h in Business, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Power of Attorney, Probate Administration

A durable financial power of attorney (“POA”) is generally an essential part of any estate plan. In fact, it may be the most important document since it is often the most powerful as it often gives the agent the authority to deal with all of...

20 Apr ONLINE WILLS CAN FLATLINE INTENDED BENEFICIARIES

Posted at 01:47h in Beneficiary, Divorce, Estate Planning, Power of Attorney, Probate Administration, Short Term Care, Wills

Although not all online or store-bought Wills create legal problems, the following factual situation is an example of the potentially perilous path that an unwitting individual may traverse when doing their own Will. FACTS: Wife (hereinafter referred to as “Zsa Zsa”) has only a few months...

19 Mar SUCCESS STORY OF THE MONTH – D-I-Y CAN BE D-U-M-B – OH THE MIGHTY WEB WE WEAVE!

Posted at 17:34h in Disability Benefits, Divorce, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Special Needs, Success Story of the Month

This article is not intended to be critical, but it is merely to be an illustration of the perils that could occur when one does their own legal documents. The facts are as follows: Husband and wife own a homestead together during marriage, but they...

24 Feb SUSPENDERS ON SUSPENSION – LARRY KING’S WILL LEAVES NOTHING TO ESTRANGED WIFE

Posted at 09:00h in Beneficiary, Divorce, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Trusts, Wills

The handwritten Last Will and Testament of famed broadcaster, Larry King, omits his estranged wife, Shawn King (“Shawn”), and she is contesting. Larry King filed for divorce from Shawn (his seventh wife) in August 2019, and his new Will was handwritten on October 17, 2019....

09 Feb TOP 7 MISCONCEPTIONS ABOUT LONG-TERM CARE MEDICAID PLANNING – NO PLAN IS A BAD PLAN

Posted at 09:00h in 529 plan, Asset Protection, Divorce, End of Life Care Planning, 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, Transfer of Death, Trusts, utma

There are 109 Medicaid programs (at last count) in Texas – each with their own rules. This article concerns the errors or misconceptions common in one of those programs - long-term care Medicaid (where the government helps pay for care in a nursing home). Seven...

17 Nov 2021 MAXIMUM RESOURCE LIMITS FOR SPOUSAL MEDICAID

Posted at 09:00h in Disability Benefits, Divorce, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Nursing Home, Social Security

Medicaid Services