Newsletters

Podcasts

Blog

Call or Text (469) 210-5270

 

Medicaid Planning

06 Feb

Posted at 20:32h in Assisted Living, Dementia, End of Life Care Planning, Home Equity, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Short Term Care, Social Security

Usually the biggest asset that most Americans have is either a home or their retirement accounts or both. Americans are living longer than ever before, but most have inadequate long-term care insurance coverage. Most mistakenly think that Medicare will take care of them if they...

02 Jan

Posted at 07:00h in Estate Planning, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Transfer of Death

At our December estate planning workshop, there were several questions about the use of enhanced life estate (“Ladybird”) deeds to protect a Medicaid recipient’s homestead from the state’s Medicaid Estate Recovery Program (“MERP”). After the death of the Medicaid recipient under present laws in Texas,...

20 Dec

Posted at 17:00h in Divorce, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security

As many of you know, Texas is an income cap state in connection with long-term care Medicaid eligibility. Presently, if an applicant for nursing home Medicaid has “countable” income (certain income is exempt or excluded) over $2,199 per month, then such applicant is ineligible for...

06 Dec

Posted at 06:00h in Assisted Living, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security

Although not officially released, projections for the 2017 Protected Resource Amount (“PRA”) dollar figures can now be estimated in light of the cost of living adjustment recently made. These figures are used to determine how much can be protected when one spouse is in a...

26 Oct

Posted at 20:15h in Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home

Most trial attorneys would say that plaintiffs are likely to receive more damages if they sue and have a right to a jury trial than if they are bound by arbitration. As a result, nursing homes and similar facilities routinely require that patients or their...

20 Oct

Posted at 19:51h in 529 plan, Beneficiary, Disability Benefits, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust, Trusts

Regulations have now been approved in four states (Ohio, Florida, Tennessee, and Nebraska) for the Achieving a Better Life Experience (ABLE) Act which permits disabled individuals (if they were disabled before age 26) or their families to set up a special savings account (similar to...

07 Sep

Posted at 09:02h in Beneficiary, Disability Benefits, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Retirement, Trusts

One of the most common misconceptions is that a Power of Attorney will be recognized by all financial institutions and title companies. Due to concerns about abusive actions of agents and potential liability, financial institutions and title companies often do not recognize financial Powers of...

26 Aug

Posted at 22:54h in Asset Protection, Divorce, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Taxes, Transfer of Death, Trusts

Although it is unlikely that the proposed estate tax change of either presidential candidate will be enacted as is, there is a stark contrast which should be considered for those interested in estate planning. If Clinton’s estate tax proposals were to become effective, there would be...

Skip to content