Michael Cohen Dallas Elder Lawyer |

20 Apr ARE PAYABLE ON DEATH ACCOUNTS A SUBSTITUTE FOR A WILL OR TRUST? 10 PROBLEMS WITH POD ACCOUNTS

Posted at 01:55h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Transfer of Death, Trusts, Wills

Although Wills are often not difficult to probate in Texas, many times the probate process of determining that the Will is valid (so that the Executor can pay the debts of the estate of the deceased and transfer the assets in accordance with the Will)...

19 Mar SUCCESS STORY OF THE MONTH – D-I-Y CAN BE D-U-M-B – OH THE MIGHTY WEB WE WEAVE!

Posted at 17:34h in Disability Benefits, Divorce, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Special Needs, Success Story of the Month

This article is not intended to be critical, but it is merely to be an illustration of the perils that could occur when one does their own legal documents. The facts are as follows: Husband and wife own a homestead together during marriage, but they...

15 Feb SUCCESS STORY OF THE MONTH – MAKING A SILK PURSE FROM A SOW’S EAR

Posted at 09:00h in Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death

When someone fails to plan for his or her estate, it means that person is letting the state determine how and to whom assets should pass upon death of that individual. It may or may not be distributed the way the deceased wanted and the...

26 Jan READY, WILLING AND ABLE FOR FINAL REGULATIONS OF ABLE ACCOUNTS?

Posted at 05:03h in 529 plan, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Social Security, Special Needs, Special Needs Trust, Trusts

The IRS has issued final regulations for Able accounts, a tax-advantaged savings account for those determined to be disabled before age 26, pursuant to the Achieving a Better Life Experience (Able) Act that was passed six years ago. Funds deposited into Able accounts do not risk...

08 Nov 12 THINGS SENIORS SHOULD DO OR DISCUSS WITH THEIR CHILDREN IN THE EVENT OF DISABILITY OR DEATH (BUT NOT ON THE 12 DAYS OF CHRISTMAS)

Posted at 09:00h in Asset Protection, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Public Benefits Protection, Retirement, Social Security

Nobody wants to think (much less talk) about their death or disability or the death or disability of an immediate family member. However, communication reduces risk in achieving your desired goals if unfortunate events should occur. Assumptions often lead to errors or misunderstandings. The following...

19 Oct EIGHT ESTATE PLANNING ERRORS BY THE RICH AND FAMOUS

Posted at 19:38h in Asset Protection, Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Taxes, Trusts

Although you would think the rich and famous would be the last to make estate planning errors, but they make mistakes (from which we can learn) like others. Here are some celebrity estate planning mistakes: No Estate Plan. Famous singers Prince and Aretha Franklin failed to...

09 Sep POST-DIVORCE ESTATE PLANNING: 6 COMMON QUESTIONS

Posted at 15:50h in Alzheimer’s, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Retirement, Special Needs, Special Needs Trust, Success Story of the Month, Trusts, Wills

Divorces are often draining – financially and emotionally. As a result, many do not want to incur more costs or even think about different financial arrangements. However, anytime there is a significant change in your family (death, divorce, disability, births, etc.), your estate plan should be at...

09 Sep CONSERVATORSHIP OVER BRITNEY SPEARS $59 MILLION ESTATE EXTENDED

Posted at 15:44h in Alzheimer’s, Business, End of Life Care Planning, Estate Planning, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration

A California judge has recently ruled that conservatorship (which in Texas would be considered guardianship) over Britney Spears and her $59 million estate be extended until 2021. Spears (who has mental health issues and has been under conservatorship since 2008) cannot be in control of her...

31 Aug NO FEE FOR SOCIAL SECURITY REPRESENTATIVE PAYEE – BUT IT COULD BE CHOICE FOR THEE

Posted at 13:52h in Alzheimer’s, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Social Security

Many disabled individuals live solely on Social Security income but lack sufficient mental capacity to handle the payment of their living expenses. Social Security (which doesn’t recognize powers of attorney) permits the appointment of a Social Security Representative Payee (Rep Payee) upon proof of disability and...

11 Aug 16 WAYS TO AVOID GUARDIANSHIP OF THE ESTATE

Posted at 20:29h in Alzheimer’s, Asset Protection, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Social Security, Special Needs, Special Needs Trust, Transfer of Death, Trusts, utma

Guardianship if often an expensive legal process which should be avoided if possible. Thus, planning should be considered as an alternative to guardianship. Guardianship is often needed for an incapacitated person. Texas law defines an “incapacitated person” as: a minoran adult, who because of a physical or mental condition,...