Michael Cohen Dallas Elder Lawyer

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...

18 Sep LAWYER’S WILL DRAFTING LIKELY TO COST MILLIONS TO DECEDENT’S PARTNER

Posted at 09:00h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Wills

As a result of poorly worded language drafted in a Will by a New York lawyer, the surviving companion of 18 years of the deceased is likely to be disinherited. The Last Will and Testament of 84 year old New York City psychologist, Jill Morris...

04 Aug ANDERSON COOPER INHERITS $1.5 MILLION FROM HIS MOTHER, GLORIA VANDERBILT

Posted at 09:00h in Business, Charitable Giving, Divorce, End of Life Care Planning, Estate Planning, Inheritance, Michael Cohen Dallas Elder Lawyer, Trusts, Wills

Gloria Vanderbilt’s Will provided that her son, CNN news reporter Anderson Cooper (“Anderson Cooper 360”), will receive the residue of her estate other than her Manhattan co-op and contents therein which were bequested to another son, Charles Stokowski. Since Wills and inventory are a matter...

10 Jul COURT: LAWYER INCOMPETENT FOR ADVISING CLIENT TO ACT BEYOND AUTHORITY UNDER POWER OF ATTORNEY

Posted at 14:54h in Estate Planning, Financial Powers of Attorney, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Trusts

A court has ruled an attorney was incompetent for advising his client, who was acting as agent for his brother pursuant to a power of attorney, to transfer assets to himself notwithstanding a lack of authority. Most people think (apparently, including some attorneys) that a...

10 Jul INSTAGRAM ACCOUNT USED TO INVALIDATE FRENCH ROCK STAR’S WILL

Posted at 13:35h in Beneficiary, Disability Benefits, Estate Planning, Michael Cohen Dallas Elder Lawyer, Texas Bar Today Top 10 Blog Posts

The fate of French rock star Johnny Hallyday’s $112 million estate hangs in the balance due to his Instagram account. Hallyday, who lived in California for approximately ten years prior to his death in December 2017, was survived by his fourth wife and their two...

04 Jun SUCCESS STORY OF THE MONTH – PROTECTING THE LOAN ON PARENTS’ HOME FROM MEDICAID ESTATE RECOVERY – LADYBIRD TO THE RESCUE

Posted at 19:44h in Asset Protection, Divorce, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Success Story of the Month, Taxes, Transfer of Death, Wills

Parents own homestead as their major asset. Their health is beginning to decline, and neither of them have long-term care insurance or enough income or assets to pay for long-term care. As a result, if either of them needs long-term care, Medicaid is likely to...

04 Jun TEXAS COURT RULES AGAINST PENALIZING INCAPACITATED MEDICAID APPLICANT IF NO REPRESENTATIVE APPOINTED

Posted at 14:37h in End of Life Care Planning, Estate Planning, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security

On May 24, 2019, a Texas appeals court ruled that if an incapacitated Medicaid applicant does not have a guardian appointed, then the resources of the applicant should be considered unavailable for Medicaid eligibility purposes. Usually, the cost of long-term care (such as a nursing...

04 Jun FIVE COMMON MISTAKES AT WILL SIGNING

Posted at 14:24h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Probate Administration, Wills

Mistakes made during the signing of a Will are frequently the cause of litigation. Some of the common mistakes are as follows: Attorney should handle the Will signing ceremony. Although it is not required by law that an attorney handle the ceremony, the probability of error is...

04 Jun IRS GIVES DETRIMENTAL TAX RULING TO SURVIVING SPOUSE NOT NAMED AS BENEFICIARY

Posted at 14:17h in Beneficiary, End of Life Care Planning, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement, Taxes

A recent ruling by the IRS demonstrates the importance of naming a spouse as the beneficiary of an IRA in which the surviving spouse has a community property interest. In this case, the husband (who died) named his child as the sole beneficiary of his...

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