Divorce

19 Oct EIGHT ESTATE PLANNING ERRORS BY THE RICH AND FAMOUS

Posted at 19:38h in Asset Protection, Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Taxes, Trusts

Although you would think the rich and famous would be the last to make estate planning errors, but they make mistakes (from which we can learn) like others. Here are some celebrity estate planning mistakes: No Estate Plan. Famous singers Prince and Aretha Franklin failed to...

09 Sep POST-DIVORCE ESTATE PLANNING: 6 COMMON QUESTIONS

Posted at 15:50h in Alzheimer’s, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Retirement, Special Needs, Special Needs Trust, Success Story of the Month, Trusts, Wills

Divorces are often draining – financially and emotionally. As a result, many do not want to incur more costs or even think about different financial arrangements. However, anytime there is a significant change in your family (death, divorce, disability, births, etc.), your estate plan should be at...

06 May ‘TIL DEATH DO US PART – MARRIAGE CAN BE VOIDED AFTER DEATH

Posted at 16:13h in Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Quality of Life, Wills

Under Texas law, a surviving spouse has a life estate in the homestead of their deceased souse (see our article entitled “Surviving Spouse Homestead Rights – I Never Want to Fall in Love Again” by clicking here). A life estate gives the surviving spouse the right...

14 Jan CHANGE IN RETIREMENT ACCOUNT LAWS AND INCREASED TAXES (SECURE ACT) LEAVES MANY BENEFICIARIES INSECURE

Posted at 19:45h in 401(k), 529 plan, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Long Term Care, Retirement, Special Needs, Special Needs Trust, Taxes, Trusts

Although the SECURE Act passage last month (which became effective January 1, 2020) covered 29 new provisions, the one provision likely to cause the most impact is the removal of “stretch” inherited IRA provisions to 10 years unless the beneficiary is an eligible designated beneficiary....

10 Jan SIX REASONS TO USE A TRUST PROTECTOR – AN EXTRA LAYER OF INSURANCE FOR YOUR TRUST

Posted at 19:44h in Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Trusts

A trust protector is a person or entity appointed by the one who establishes the trust (the “trustor”) to protect the trust assets and beneficiaries in the event the law changes or circumstances change and the trustor is unable to make such changes. Here are...

30 Nov 2020 FINAL MAXIMUM RESOURCE LIMITS FOR SPOUSAL MEDICAID (HOW TO KEEP MORE FOR SPOUSE IF ILL SPOUSE NEEDS TO GO INTO NURSING HOME OR NEEDS CARE AT HOME)

Posted at 16:52h in Disability Benefits, Divorce, Estate Planning, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Nursing Home, Social Security

The Texas Health and Human Resources has announced its final numbers in connection with long-term care Medicaid eligibility for year 2020. The final numbers are slightly different than projected as set forth in our November newsletter. As a result, we have edited that article with...

09 Oct FIVE MISCONCEPTIONS ON ESTATE PLANNING

Posted at 09:00h in Asset Protection, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Power of Attorney, Probate Administration, Quality of Life, Retirement

Estate planning is not simply protecting your assets or having a Will and a power of attorney. It is a plan whereby you are in control of your assets during your lifetime when you are well and to protect you if you should become disabled...

07 Oct 2020 PROJECTED MAXIMUM RESOURCE LIMITS FOR SPOUSAL MEDICAID (HOW TO KEEP MORE FOR SPOUSE IF ILL SPOUSE NEEDS TO GO INTO NURSING HOME OR NEEDS CARE AT HOME)

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

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 such care and also lack long-term care insurance or similar insurance products. As a result, some elderly and disabled...

04 Aug ANDERSON COOPER INHERITS $1.5 MILLION FROM HIS MOTHER, GLORIA VANDERBILT

Posted at 09:00h in Business, Charitable Giving, Divorce, End of Life Care Planning, Estate Planning, Inheritance, Michael Cohen Dallas Elder Lawyer, Trusts, Wills

Gloria Vanderbilt’s Will provided that her son, CNN news reporter Anderson Cooper (“Anderson Cooper 360”), will receive the residue of her estate other than her Manhattan co-op and contents therein which were bequested to another son, Charles Stokowski. Since Wills and inventory are a matter...

01 Aug BINGO! ELIZABETH HURLEY’S SON DINGS GRANDFATHER BING FOR MILLIONS DESPITE BEING BORN OUT OF WEDLOCK

Posted at 13:57h in Beneficiary, Business, Divorce, End of Life Care Planning, Estate Planning, Probate Administration

A California court has ruled that Elizabeth Hurley’s son, Damian, remain a beneficiary of the trust of his grandfather, Dr. Peter Bing, notwithstanding Dr. Bing’s attempt to change the terms of the trust that he established. Another grandchild, Kira Kerkorian, also benefits from this ruling. Dr....