Estate Planning

assets, attorney, benefits, care, deeds, elder care

15 Mar Six Different Trusts Used In Public Benefits Planning

Posted at 20:36h in Asset Protection, Assisted Living, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Lady Bird Deed, Long Term Care, Medicaid Planning, Medicare, Nursing Home, Probate Administration, Public Benefits Protection, Social Security, Special Needs, Special Needs Trust, Trusts, Veterans

There are a variety of public benefits programs ranging from taking care of drug costs to long-term care costs to assistance for food and shelter. Although some public benefits programs such as Social Security Disability and Medicare are not “means-tested”, eligibility for most public benefits...

15 Feb Seven Situations When Your Named Executor Cannot Be Your Executor

Posted at 22:22h in Business, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration

Many think that by simply naming an executor in their Will that the court will honor your selection to serve as executor for gathering assets, paying debts of the deceased, administering the estate, etc.However, the Texas Estates Code provides several situations whereby a person is...

15 Feb Seven Different Types Of Bank Accounts Which Determine How Funds Are Distributed At The Owner’s Death

Posted at 22:16h in Beneficiary, Disability Benefits, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Transfer of Death, Trusts, Wills

Many do not realize the signature card on your bank account (as to the type of account established) determines how the funds in the account pass at the owner’s death. Thus, even if a person has a Will, the signature card could establish that the...

15 Feb Ten Types Of Assets That Should Not Be Included In A Revocable Living Trust

Posted at 22:09h in 401(k), Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Retirement, Transfer of Death, Trusts, utma, Wills

Revocable Living Trusts (RLTs) are commonly used for a variety of reasons ranging from avoiding probate to avoiding guardianship by retitling assets into the name of the trust if you should become disabled. However, not all assets can or should be transferred or even mentioned...

15 Feb 20 Biggest Errors Made By Executors

Posted at 22:02h in Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Transfer of Death, Wills

As the famous late N.Y. Yankee, Yogi Berra, once said “We made too many wrong mistakes.” Executors make many “wrong mistakes.” It may be an honor to be named as an executor in someone’s Will, but there are many pitfalls and errors that an executor...

veterans benefits lawyers, veterans benefits attorneys

12 Jan Veterans Benefits Increase Announced – Government Salute To Those Who Served In Wartime

Posted at 15:06h in Assisted Living, Disability Benefits, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Social Security, Trusts, Veterans

The Department of Veteran Affairs (VA) has announced in December its 2022 rate increases for certain non-service-connected disability wartime military veterans, not dishonorably discharged or their surviving spouse to help pay for care costs ranging from being housebound to long-term care costs. However, since these...

12 Jan Recognition Of Wills And Trusts In Foreign Countries – Without Review It Is Willy Nilly

Posted at 15:00h in Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Trusts, Wills

It is not unusual for U.S. citizens to own real estate in their ancestral “motherland” or to live abroad and own real estate in another country. Although Wills created in one state are generally recognized if you move to another state (under the U.S. Constitution’s...

wills and estate planning, wills lawyers Dallas

12 Jan How To Pay An Adult Child Without Jeopardizing Medicaid Paying For Care Costs – Five Examples Of What Is Acceptable Or Not For Granny Smith And Others

Posted at 14:54h in Assisted Living, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Mortgage, Nursing Home, Probate Administration, Taxes

Most Americans do not have adequate long-term care insurance for care at home or in a nursing home. Furthermore, most Americans would like to stay at home as long as possible before nursing home care is required. If one has inadequate income or resources or...

elder law attorney, elder law attorney Dallas, Elder Law Attorney frisco

12 Jan Four Ways To Estate Plan For An HSA

Posted at 14:41h in Beneficiary, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Transfer of Death

The government encourages saving for medical expenses by allowing before-tax contributions to a Health Savings Account (HSA) which can grow without taxation on the condition the funds are used for qualified medical expenses (ranging from acupuncture to vaccines and from hearing aids to dental work...

13 Dec IRS Announces Increase In Amount That Can Be Given In Life And At Death Without Taxation

Posted at 21:04h in Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Transfer of Death

As of January 1, 2022, you can give up to $16,000 per year, per person without reporting to the IRS and without gift taxation. So, for example, if a married couple with three children wanted to give the maximum to each child, then they could...