Michael Cohen Dallas Elder Lawyer

18 Aug THREE GOVERNMENT PROGRAMS THAT HELP PAY FOR CARE AT HOME

Posted at 23:34h in Assisted Living, Estate Planning, Guardianship, Michael Cohen Dallas Elder Lawyer, Uncategorized

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Even prior to the pandemic, most prefer to stay at home as long as possible if they should need long-term care. The increase in Covid variants has caused renewed and even greater interest for alternativesto care at long-term care facilities and the desire of many to stay at home due to safety concerns....

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18 Aug SON OF AUSTIN POWERS CO-STAR SHAGGED BY COURT

Posted at 23:21h in Beneficiary, Estate Planning, Financial Powers of Attorney, Lawsuits, Michael Cohen Dallas Elder Lawyer, Trusts, Uncategorized, Wills

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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...

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12 Jul 529 PLANS VS. UTMA: PROS & CONS

Posted at 19:14h in 529 plan, Michael Cohen Dallas Elder Lawyer, Uncategorized, utma

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It is not unusual for parents and grandparents (as well as others) to want to help plan for payment of school and other expenses of a beneficiary who is a minor. A UTMA (Uniform Transfers to Minors Act) account is a custodial account usually established...

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03 Jun COURT RULES CAREGIVER DAUGHTER COMPENSATION RESULTS IN MEDICAID TRANSFER PENALTY

Posted at 09:00h in Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer

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Under federal long-term care Medicaid laws, there is a presumption of “guilt” if there is an uncompensated transfer within five (5) years of an application for long-term Medicaid (which helps pay for institutional care, drugs, etc.) since long-term care is “means-tested” In other words, the...

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02 Nov SUCCESS STORY OF THE MONTH – THERE IS NO TIME LIKE THE PRESENT

Posted at 19:33h in Michael Cohen Dallas Elder Lawyer, Success Story of the Month

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The following case is an example of how an entire estate was preserved for the benefit of an ill spouse and then for the children after her passing. The planning was done years ago, but the total savings were realized as of the date of...

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02 Nov SOCIAL SECURITY RECIPIENTS TO RECEIVE 2.8% INCREASE IN 1029 – BUT IS THAT FAIR TO SENIORS?

Posted at 19:27h in Michael Cohen Dallas Elder Lawyer, Social Security

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Social Security beneficiaries will receive the highest increase (2.8%) in benefits in seven years based on the cost of living adjustment (COLA) due to inflation in changes for housing, clothing, transportation, energy, medical care, recreation and education – which is the Consumer Price Index for...

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04 Sep 10 WAYS TO PROTECT MY HOME (OR SALES PROCEEDS) FROM MEDICAID ESTATE RECOVERY

Posted at 11:00h in Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer

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Although most Texas homes are a non-countable resource (if equity is under $603,000 as of January 1, 2021 if you are single, unlimited if you are married for Medicaid applicants) for long-term care Medicaid eligibility purposes, the state usually has a right to make a claim against the Medicaid recipient’s estate after...

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06 Dec 2017 PROTECTED RESOURCE AMOUNT INCREASE – GOVERNMENT HELPS PAY NURSING HOME COST

Posted at 06:00h in Assisted Living, Michael Cohen Dallas Elder Lawyer

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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...

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09 Jun WHAT IS A MILLER TRUST?

Posted at 09:14h in Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Trusts

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**Please note that the Medicaid income and asset limitations are subject to change, please click here for 2018 Medicaid Numbers** Although “Miller” or “Qualified Income” Trusts have been around for over twenty years (this author has been doing them since they were first approved in Texas in...

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26 May APPELLATE COURT RULES “GEORGE JEFFERSON” HAD CAPACITY TO SIGN HIS WILL

Posted at 09:13h in Michael Cohen Dallas Elder Lawyer, Wills

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The attorney for Sherman Hemsley (who played the character George Jefferson in the television shows “All in the Family” and “The Jeffersons”) decided to not draft a will for his client since he feared a will contest due to Hemsley’s celebrity status. However, the attorney...

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