Financial Powers of Attorney

01 Oct 5 Types Of A Power Of Attorney – How Do I Trust Thee? Let Me Count The Ways

Posted at 12:51h in Elder Justice, Estate Planning, Financial Powers of Attorney, Michael Cohen Dallas Elder Lawyer, Power of Attorney

A common misconception is that there is one type of power that covers everything from financial to medical decisions. Even many who realize there should be different documents for medical and financial decisions, they are unaware of the variety of financial powers of attorney. The...

28 Dec Success Story Of The Month: The Powerful Power Of Attorney

Posted at 12:34h in Financial Powers of Attorney, Power of Attorney

Client created a basic estate plan including a will, financial power of attorney, medical power of attorney, directive to physicians a/k/a living will, HIPPA authorization and declaration of guardian in the event of later incompetence. The client gave extra powers to the agent in the...

08 Mar 9 Documents Other Than a Will to Consider in Estate Planning

Posted at 11:12h in Estate Planning, Financial Powers of Attorney, Power of Attorney, 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...

20 Sep BEWITCHED, BOTHERED AND BEWILDERED: FAMILY’S PERSPECTIVE WHEN PARENT HAS NO POWER OF ATTORNEY

Posted at 14:21h in Estate Planning, Financial Powers of Attorney, Inheritance, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Social Security

Financial powers of attorney may be the most (if not one of the most) important documents that almost everyone should have as illustrated by the following sad (but true) story: Husband dies (with a Will) and leaves everything (although the estate is not large) to wife....

18 Aug SON OF AUSTIN POWERS CO-STAR SHAGGED BY COURT

Posted at 23:21h in Beneficiary, Estate Planning, Financial Powers of Attorney, Lawsuits, Michael Cohen Dallas Elder Lawyer, Trusts, Uncategorized, Wills

SON OF AUSTIN POWERS CO-STAR SHAGGED BY COURTA California Appellate Court has reversed the Los Angeles Superior Court decision over the meaning of the term “grandchild” costing Damian Hurley, son of famed British actress Elizabeth Hurley and Steve Bing (although born out of wedlock), the sum of approximately $250 Million. The...

11 Jul TEXAS AND THE U.S. PASS LAWS TO PROTECT SENIORS FROM FINANCIAL ABUSE AND SCAMS

Posted at 19:08h in Estate Planning, Financial Powers of Attorney

Due to the continued graying of America as we are in the midst of silver tsunami, a growing and major concern of many seniors is elder financial abuse. As people get older, they become more susceptible to financial scams that may empty brokerage and other...

12 Jun GUIDELINES ON WHEN AND HOW TO USE ANNUITIES IN PUBLIC BENEFITS PLANNING

Posted at 09:00h in Financial Powers of Attorney, Texas Bar Today Top 10 Blog Posts

Many financial planners use annuities in developing a plan for the financial goals of their clients. However, few realize the opportunities that exist in the area of planning for public benefits such as long-term care Medicaid (which helps pay for nursing homes, care at home,...

21 Aug WILL NEW LAW RESULT IN INCREASED ACCEPTANCE OF DURABLE POWERS OF ATTORNEY?

Posted at 11:00h in Estate Planning, Financial Powers of Attorney, Power of Attorney, Uncategorized

Many are surprised that financial powers of attorney do not have to be recognized by others including banks and other financial institutions. If the principal (the one who signs the power of attorney) becomes incompetent and the one who is presented with and asked to...

18 Mar IRAs UNDER ATTACK!

Posted at 06:00h in Financial Powers of Attorney

President Obama has attacked Individual Retirement Account (IRAs) as indicated by his Fiscal Year 2016 Budget released two weeks ago. Although probably most provisions will not likely be passed by congress, it paints a clear picture what the administration would like to do. Although there...

13 Mar Gift Tax Law Changes Proposed by President

Posted at 06:00h in Financial Powers of Attorney

Under current law, a donor may give $14,000 per year, per person, without having to report such gift to the IRS or be subject to gift taxes. Furthermore in Texas (which follows the federal law), a donor can give an amount in excess of $14,000...