Financial Powers of Attorney

30 Jan Success Story of the Month – Rearranging Assets for Government Care Assistance

Posted at 14:05h in 529 plan, Asset Protection, Dementia, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Public Benefits Protection, Success Story of the Month, utma

Mom has dementia that has resulted in the need for skilled care. Although mom owns a homestead, she now lives with daughter due to the dementia. Mom has no long-term care insurance. Mom’s only assets are the home (which she purchased for $200,000 – although...

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

Posted at 12:51h in Disability Benefits, Elder Justice, 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, Trusts

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...

23 Jan Are Pet Trusts The “Cat’s Meow”???

Posted at 12:48h in Disability Benefits, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Trusts

Do you desire to take care of “Kitty or Fido” in the event of your death or disability? For some, the answer is a pet trust so that there is proper care pursuant to the directions to a caregiver as in the trust. If a...

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

Posted at 12:34h in Asset Protection, Estate Planning, Financial Powers of Attorney, Guardianship, Lawsuits, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Success Story of the Month, Transfer of Death, Trusts

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...

26 Oct Impact Of Divorce On Prior Estate Planning:Automatic Revocation Of All Your Ex’s Who Live In Texas

Posted at 10:17h in 401(k), Beneficiary, Divorce, Estate Planning, Financial Powers of Attorney, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Retirement, Trusts, Wills

What happens if you pass and if you named your spouse as the beneficiary of your Will, trust, life insurance policy, IRA or bank account and you never change the beneficiary after divorce? It depends on the state in which you live. In Texas (and...

24 Oct Reasons Why Out-Of-State Estate Planning Documents Should Be Renewed

Posted at 10:23h in Asset Protection, Beneficiary, Business, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Trusts, Wills

It is no secret that people are moving to Texas for numerous reasons ranging from less taxes and affordable housing to Texas being more business friendly. As a result, estate planning documents prepared in other states should be reviewed when moving to Texas – even...

07 Sep Blind Trust? Was Michael Oher Or The Touhys Not Protected From The Blind Side?

Posted at 15:31h in Disability Benefits, Estate Planning, Financial Powers of Attorney, Guardianship, Inheritance, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Taxes

The Oscar-nominated film “The Blind Side” will never be seen in the same light after the recent petition by Michael Oher to terminate the rights of Sean and Leigh Anne Touhy to act as the conservator for the 37-year-old former football star who played in...

01 Aug Success Story Of The Month: It’s More Than Take 2 Aspirins And Call Me In The Morning – Use Of Estate Planning And Elder Law To Solve A Planning Headache

Posted at 13:52h in Asset Protection, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Notarizations, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Success Story of the Month, Taxes, Transfer of Death

Is your head ready to explode with the myriad of legal issues that can spring from your estate planning problems? The case below illustrates the problems and solutions to eliminating the pain and meet the goals of a client. FACTS: 54-year-old disabled, divorced man (“Recipient”) needs...

05 Jul Hot Powers In Power Of Attorney – You Can Get Burned With Or Without

Posted at 09:59h in Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Retirement, Trusts

Many think if they have a statutory durable financial power of attorney in Texas that the agent can do anything he or she desires since the document gives broad powers. However, there are some additional powers beyond those listed in the statutory form that create...

03 Jul When Is a Revocable Living Trust the Best Estate Planning Option in Texas

Posted at 09:47h in Beneficiary, Business, Disability Benefits, Estate Planning, Financial Powers of Attorney, Guardianship, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Notarizations, Power of Attorney, Probate Administration, Retirement, Transfer of Death, Trusts

Texas estate planning attorneys often disagree about what is the best option in estate planning. Sometimes it is best to have a will to transfer your assets and pay your debts after death. Sometimes it is best to have an irrevocable trust for numerous reasons....

29 May Palliative Care VS Hospice Care – 7 Documents to Prepare for End-Of-Life Planning

Posted at 11:15h in Dementia, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Quality of Life, Wills

If you have an illness that is likely to limit your life due to the illness being serious and chronic (such as heart failure, Chronic Obstructive Pulmonary Disease, cancer, dementia and Parkinson’s Disease), would you like to improve your quality of life by having: (1)...

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

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...

31 Jan 6 Advantages And Disadvantages Of A Will And A Revocable Living Trust

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...

11 Jul Success Story Of The Month – Overcoming A Defective Or Less Than Powerful Power Of Attorney

Posted at 10:53h in Beneficiary, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Notarizations, Nursing Home, Power of Attorney, Probate Administration, Success Story of the Month

What could go wrong when using a general durable power of attorney for an agent to sign a deed (in this case, a Ladybird deed) on behalf of the principal (the one who signed the power of attorney)? Are there additional powers that should be...

13 Apr Nine Different Types Of Wills

Posted at 15:59h in Asset Protection, Beneficiary, Estate Planning, Financial Powers of Attorney, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Transfer of Death, Trusts, Wills

There are certain requirements for a last will and testament to be valid in Texas including: (1) being of sound mind; (2) being the age of majority (or married or a member of the armed forces of the U.S.); (3) not being unduly influenced; (4)...

11 Nov ADVANTAGES AND DISADVANTAGES OF A WILL AND A REVOCABLE LIVING TRUST FROM AN ELDER LAW ATTORNEY’S PERSPECTIVE

Posted at 21:38h in Asset Protection, Beneficiary, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Long Term Care, 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 to transfer assets at death under the terms and conditions you desire. The simple answer is that it depends on...

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

Posted at 14:21h in End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, 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, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Lawsuits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Trusts, 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...

17 Jun CHEAP POWER OF ATTORNEY COSTS FAMILY THOUSANDS OF $

Posted at 16:07h in Disability Benefits, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Special Needs, Special Needs Trust, Transfer of Death

A Pennsylvania appeals court has recently upheld a lower court ruling giving the agent the authority to act under a boilerplate power of attorney form even though the terms of the document were not followed. However, the cheap form and the failure of the agent...

20 Apr WITH POWER COMES THE ABUSE OF POWER – HOW TO REVOKE A POWER OF ATTORNEY

Posted at 02:00h in Business, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Power of Attorney, Probate Administration

A durable financial power of attorney (“POA”) is generally an essential part of any estate plan. In fact, it may be the most important document since it is often the most powerful as it often gives the agent the authority to deal with all of...