Michael Cohen Dallas Elder Lawyer

19 Oct SUCCESS STORIES OF THE MONTH – SAVING THE HOME FROM PAYBACK TO GOVERNMENT AFTER LONG-TERM CARE MEDICAID RECIPIENT DIES

Posted at 21:25h in Assisted Living, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Transfer of Death

Most Texans have inadequate income and resources or lack long-term care insurance to pay for the cost of long-term care (such as nursing home and assisted living care or care at home). As a result, they often use long-term care Medicaid to help pay for...

19 Oct SEVEN WAYS TO AVOID A FAMILY FEUD ON YOUR PERSONAL PROPERTY

Posted at 21:14h in Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Probate Administration, Transfer of Death, Wills

It is not unusual for family members to fight over personal property items of value (sentimental or financial - such as jewelry, guns, art, tools, furniture, silverware and china, etc.). After famous comedian Robin Williams died, his Will left his homestead to his wife, but there...

19 Oct FATE OF OBAMACARE MAY DEPEND ON SPEED OF BARRETT APPROVAL

Posted at 20:01h in Elder Justice, Estate Planning, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Probate Administration

The U.S. Supreme Court is scheduled to hear a case regarding the Affordable Care Act (Obamacare) on November 10. If Amy Coney Barrett is not approved before oral arguments on a case (in the case affecting Obamacare, it is November 10), then she will not...

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 SUCCESS STORY OF THE MONTH – THE ALMOST SPEND-LESS SPEND-DOWN

Posted at 13:58h in Alzheimer’s, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Special Needs, Success Story of the Month

Long term care Medicaid helps pay for long-term care costs such as nursing home care and drug costs. The average cost of care in Texas (exclusive of drug costs) is $6500 per month and most Americans have inadequate income or long-term care insurance to pay for...

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...

17 Aug SUCCESS STORY OF THE MONTH

Posted at 20:24h in Alzheimer’s, Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Inheritance, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts, Wills

Husband and wife (“clients”) have 2 adult children. Once child is disabled and the other is a spendthrift (money is spent as soon as it is received). The disabled child is on Medicaid and lives in a facility where the drug costs and the great majority of...

11 Aug 12 COMMON TEXAS PROBATE FAQ’S

Posted at 20:34h in Alzheimer’s, Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Probate Administration, Retirement, Social Security, Transfer of Death, Wills

We get asked questions every day about probate: what it is, how to probate a will, etc. Here are 12 of the most common Texas Probate questions we receive. Question 1: What is Probate? Answer: Probate is the process where a court confirms death and determines who...

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,...

11 Aug INSURANCE COMPANY UNINSURED

Posted at 08:16h in Alzheimer’s, Beneficiary, End of Life Care Planning, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Texas Bar Today Top 10 Blog Posts

A recent decision of a San Antonio appellate court determined that faulty drafting of an annuity contract by the insurance company who issued the annuity resulted in a beneficiary being paid far more than the contracted terms. The annuity contract provided for payments during the joint...

03 Aug BLOOD TEST TO DETERMINE ALZHEIMER’S DISEASE COULD BE READY IN 2 YEARS

Posted at 20:09h in Alzheimer’s, End of Life Care Planning, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer

It was recently announced that a simple blood test could be effective in diagnosing Alzheimer’s Disease (even if the person seemed normal) 20 years before memory and thinking problems are to be expected in people with a genetic mutation that causes Alzheimer’s. Although the blood test...

29 Jul LADYBIRD DEEDS – 10 SITUATIONS WHERE IT IS BEST THAT A TRUST RECEIVE PROPERTY INSTEAD OF AN INDIVIDUAL

Posted at 19:55h in Asset Protection, Assisted Living, Beneficiary, Disability Benefits, Estate Planning, Guardianship, Home Equity, Inheritance, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Transfer of Death

Ladybird Deeds and Transfer on Death Deeds are used to avoid probate (which is the legal process whereby the court determines if a will is valid and assets are distributed according to the will). These types of deeds are particularly useful to avoid Medicaid Estate Recovery. If...

22 Jul JAMES BROWN’S HEIRS “FEEL GOOD” AFTER COURT RULES AGAINST BIGAMOUS “SPOUSE”

Posted at 19:50h in Beneficiary, Elder Justice, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Probate Administration, Wills

After a 14-year battle over James Brown’s estimated $100 million estate, it appears “good” will finally prevail over the greed of Brown’s 4th “wife”. The Supreme Court of South Carolina has recently ruled that Tommie Ray Hynie’s marriage in 2001 to the “Godfather of Soul” was invalid...

15 Jul DEAD MONEY – HOW CAN GOVERNMENT COLLECT $1.4 BILLION FROM STIMULUS CHECKS SENT IN ERROR TO THE DECEASED?

Posted at 19:45h in Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Social Security, Transfer of Death

As a result of a rush to stimulate the economy early in the pandemic, the IRS apparently failed to follow its own procedures (established after recovery from the recession in 2008) and sent 1.1 million stimulus checks totaling $1.4 billion to those who are deceased. Now...

14 Jun LITTLE RICHARD, LITTLE ESTATE? GOOD GOLLY, MISS MOLLY!

Posted at 14:52h in Asset Protection, Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Music

Although Little Richard recently died, with an estate estimated at $40 Million, it could have been much greater if he had made better business decisions. He sold the rights to his hit song, “Tutti Frutti”, to Specialty Records for $50 plus a half cent for...

14 Apr PANDEMIC PLANNING IN PERIL: WHERE THERE IS A “WILL”, IS THERE STILL A WAY?

Posted at 15:49h in Beneficiary, Business, End of Life Care Planning, Estate Planning, Financial Powers of Attorney, Guardianship, Michael Cohen Dallas Elder Lawyer, Notarizations, Power of Attorney, Probate Administration, Quality of Life, Retirement, Transfer of Death, Trusts, Wills

Coronavirus concerns have resulted in an unprecedented demand for Will planning in America. Even younger Americans are realizing that they are not invincible. Most Americans fail to have even a simple Will leaving the risk of their assets being distributed in accordance with the laws...

09 Apr 10 KEY PROVISIONS OF CORONAVIRUS LEGISLATION THAT AFFECT SENIORS

Posted at 15:42h in Beneficiary, Charitable Giving, Estate Planning, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Mortgage, Retirement, Social Security

Although we are all affected by the pandemic, the following are just some of the key provisions that impact seniors: Rebates. All U.S. residents with adjusted gross annual income of up to $75,000 ($150,000 if married) who are not a dependent and have a work eligible...

02 Oct PRINCE’S ESTATE REQUESTS “PURPLE RAIN” DROUGHT FROM TRUMP CAMPAIGN – THE ESTATE OF PRINCE FAR FROM BEING SETTLED

Posted at 09:00h in Asset Protection, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Music, Taxes

The Estate of legendary musician, formerly known as Prince, has (for at least the second time) requested the Trump campaign to stop playing Prince’s most famous song, “Purple Rain,” or any of his songs at Trump’s campaign events. The Estate owns all copyrights to the...

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