Estate Planning

03 Mar How to Protect Your Pet if you Die or Become Disabled

Posted at 09:29h in Disability Benefits, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Trusts

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Although most think of outlandish cases when giving or caring for a pet such as when Leona Helmsley left $12 million (which the court subsequently reduced to $2 million) of her $4.8 billion estate in a pet care trust for her dog “Trouble”, there are...

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07 Jan Congress Encourages gifts from IRAs to Charity

Posted at 22:34h in Charitable Giving, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement

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Over the past several years, Congress encouraged donors over 70 ½ years of age to give funds from their Individual Retirement Accounts (IRAs) to charities by not subjecting the donor to income taxation which is normally the case when an individual makes a withdrawal from...

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09 Sep Happy 80th Birthday Social Security!

Posted at 06:00h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement, Social Security, Taxes

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By Richard W. Jackson, CFP®, CRPC, Principal Schlindwein Associates, LLC     Having enough resources to maintain one’s lifestyle throughout retirement is a major concern for most retirees. Social Security income can play a vital role in enjoying a comfortable retirement. With this in mind, the following provides a brief history...

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02 Sep The Truth About 401(k)s

Posted at 06:00h in 401(k), Business, Estate Planning, Guardianship, Retirement, Taxes

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By Rick Foster   Putting money in a 401(k) is the right thing to do, isn't it? Yes! No! Maybe? Surprisingly, the answer to that question may not be as simple as it seems. What is a 401(k)? In the late 1960s due to market volatility and the realization...

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19 Aug TEXAS TRANSFER ON DEATH DEED ACT SIGNED BY GOVERNOR

Posted at 06:00h in Beneficiary, Estate Planning, Lady Bird Deed, Probate Administration, Transfer of Death

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On June 17, 2015, Governor Abbott approved the bill authorizing a revocable deed on the death of the transferor. The law becomes effective September 1, 2015. Similar to bank accounts that are “paid on death”, this law allows the transfer of real estate on the...

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12 Aug ALZHEIMER’S DISEASE: TEEN DEVELOPS DIAGNOSIS TEST

Posted at 06:00h in Alzheimer’s, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer

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Although at the present time Alzheimer’s disease is determined by looking at the brain after death or through a series of tests, a 15 year old boy from England has developed a potential test of detection well before (as much as 10 years) symptoms appear. The...

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29 Jul LONG-TERM CARE FACILITIES: REQUIRED TO REQUEST COPY OF GUARDIANSHIP ORDERS

Posted at 06:00h in Assisted Living, Estate Planning, Guardianship, Long Term Care, Nursing Home

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As of September 1, 2015, nursing homes and assisted living facilities must make a reasonable effort to request a copy of any court order appointing a guardianship of a resident or resident’s estate from the resident’s nearest relative or the person responsible for the resident’s...

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22 Jul NEW LAW REQUIRES PROMPT RECORDING OF POWER OF ATTORNEY

Posted at 06:00h in Estate Planning, Power of Attorney

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If you rely on your agent under your Power of Attorney to handle real estate transactions, you better record your Power of Attorney within 10 days after the instrument related to the real estate transaction (such as a deed, deed of trust, oil, gas or...

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22 Apr Companion Bill Could Salvage Ladybird Deeds

Posted at 06:00h in Estate Planning, Lady Bird Deed, Medicaid Planning, Transfer of Death

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Senate Bill 462 (companion bill)  has been introduced so that new rights are not granted to the Medicaid Estate Recovery Program that would have occurred if the Transfer on Death Deed Act bill passes. As previously mentioned in the January issue of the Texas Elder...

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23 Mar Assisted Living Facility Pays For Unlawful Confinement

Posted at 06:00h in Assisted Living, Estate Planning, Long Term Care

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Assisted Living Facility Pays $750,000 for Unlawful Confinement to Estate of "Kung Fu" Judge A New York assisted living facility which was alleged to have kept former Brooklyn judge John Phillips confined to its facility against his will for 8 months prior to his death and...

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