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End of Life Care Planning

04 May

Posted at 13:17h in End of Life Care Planning, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Quality of Life, Wills

Perhaps the most important will to be written is neither a last will and testament (which determines who is to receive your assets, when it is received and how it is received) nor a living will (an end-of-life directive describing whether you are to be...

11 Apr

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...

08 Mar

Posted at 11:12h in Asset Protection, 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, Power of Attorney, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Taxes, Trusts, Wills

Most people think of a will when it comes to estate planning, but there are many other documents to consider in basic estate planning depending on your individual situation. This list of documents (exclusive of a will) includes, but is not limited to, the following: Financial...

07 Mar

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

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...

31 Jan

Posted at 10:21h in Business, End of Life Care Planning, Estate Planning, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Special Needs, Transfer of Death, Wills

Although most realize you should know what you are doing for it to be valid under law, many are unaware that capacity needed for making a gift, signing a contract and signing a will are different. The mental capacity needed for signing a valid will...

19 Dec

Posted at 15:28h in End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Transfer of Death

As of January 1, 2023, the homestead equity limit for a Medicaid applicant who is not married and who either applies for the nursing home Medicaid program or “waiver” home care Medicaid program will increase to $688,000 ($636,000 in year 2022). Thus, if the home...

03 Nov

Posted at 12:07h in Beneficiary, Disability Benefits, 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, Social Security, Taxes, Transfer of Death

Since long-term care Medicaid (which helps pay for skilled nursing care and medications) is “means-tested” (assets of the applicant are reviewed to determine if there is eligibility for the government to pay), there is a five year “look-back” period as there is a presumption resources...

03 Nov

Posted at 11:57h in Asset Protection, Business, Divorce, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Social Security

Since the cost of long-term care (i.e., nursing home care or care at home, etc.) is so great (average monthly cost is in excess of $7,000 per month) and since most have inadequate income, resources and/or long-term care insurance to pay for such care, many...

03 Nov

Posted at 11:53h in Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Retirement, Trusts, Wills

It is not unusual for married couples to have a will or trust, joint accounts and/or beneficiary designations whereby the spouse is a beneficiary and/or is a fiduciary (i.e., executor, trustee, agent under power of attorney, etc.). However, if the couple divorces, the fiduciary relationship...

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