Michael Cohen Dallas Elder Lawyer

21 Apr Credit for Caring Act proposed by Congress

Posted at 09:13h in Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home

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In an effort to help family caregivers who take care of a family member (whether young or old) needing care at home and to give an incentive for the caregiver to work at least part-time (earned income in excess of $7,500 in a year), both...

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14 Apr Ladybird Deed vs. Transfer on Death Deed

Posted at 09:28h in Estate Planning, Home Equity, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Nursing Home, Power of Attorney, Probate Administration, Transfer of Death

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Many elder law attorneys have pondered whether to use the traditional enhanced life estate deed (also known as a Ladybird Deed) or the new statutory Transfer on Death Deed since both work to avoid estate recovery – the right of the government to make a...

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07 Apr Bad Decision on Converting Roth IRA in 2015? It’s Not Too Late to Undo

Posted at 14:38h in Elder Justice, Michael Cohen Dallas Elder Lawyer, Taxes

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Many Americans probably converted to a Roth IRA to take advantage of the tax-free growth without the requirement of minimum distributions after one reaches 70 ½ years of age. Of course, one of the requirements is to take income taxes on the amount converted. So, for...

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17 Mar How to Stop a Parent from Driving

Posted at 08:35h in Elder Justice, End of Life Care Planning, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Special Needs

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Although many older drivers actually have a better safety rating than younger drivers, it is a common concern that a parent might endanger himself or herself as well as others if the keys to the car are not taken. People are living longer – so...

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10 Mar SOCIAL SECURITY REPORTS PHISHING SCAM

Posted at 10:34h in Elder Justice, Michael Cohen Dallas Elder Lawyer, Social Security

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A new scheme has been uncovered that preys on seniors receiving Social Security as they may receive an email that looks like it is from Social Security and the subject line says “Get Protected”. The email refers to a new Congressional Act called S.A.F.E. Act of...

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03 Mar How to Protect Your Pet if you Die or Become Disabled

Posted at 09:29h in Disability Benefits, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Trusts

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Although most think of outlandish cases when giving or caring for a pet such as when Leona Helmsley left $12 million (which the court subsequently reduced to $2 million) of her $4.8 billion estate in a pet care trust for her dog “Trouble”, there are...

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25 Feb HEALTH CARE SPENDING OVERTAKES SOCIAL SECURITY

Posted at 10:17h in Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Social Security

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The Congressional Budget Office recently reported that spending on programs such as Medicare and Medicaid, including the additional subsidies resulting from the Affordable Care Act (Obamacare), has resulted in exceeding Social Security spending for the first time in history. A total of $936 billion was...

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28 Jan Veteran’s Improved Pension Benefits under Attack by New Congressional Bill

Posted at 09:18h in Asset Protection, Assisted Living, Disability Benefits, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Taxes, Trusts, Veterans

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On January 8, 2016, the “Veterans Care Financial Protection Act of 2016” was introduced allegedly to protect individuals who are eligible for increased pension under laws administered by the Secretary of Veterans Affairs on the basis of need of regular aid and attendance from “dishonest,...

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21 Jan State Attorney Generals Attack Pre-Dispute Arbitration Agreements

Posted at 10:12h in Assisted Living, Elder Justice, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home

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At the present time, most nursing homes require residents or their “responsible party” to sign a nursing home admission agreement which binds the resident to arbitration instead of giving them the right to sue the facility if the facility is either negligent or is in...

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14 Jan Court Rules that Father Cannot Marry his Son

Posted at 08:00h in Beneficiary, Inheritance, Michael Cohen Dallas Elder Lawyer, Taxes

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A Pennsylvania court recently ruled that a man who had adopted his same sex partner as his son in 2012, cannot annul his adoption so that he could marry his partner (adopted son). Prior to the U.S. Supreme Court decision which prohibited the ban by states...

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07 Jan Congress Encourages gifts from IRAs to Charity

Posted at 22:34h in Charitable Giving, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement

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Over the past several years, Congress encouraged donors over 70 ½ years of age to give funds from their Individual Retirement Accounts (IRAs) to charities by not subjecting the donor to income taxation which is normally the case when an individual makes a withdrawal from...

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17 Dec Common Strategies to Increase Social Security Income for Married Couples Eliminated by Bipartisan Budget Act of 2015

Posted at 06:00h in Medicare, Michael Cohen Dallas Elder Lawyer, Retirement, Social Security

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In our October 2015 issue of the Texas Elder Law E-Letter, we mentioned the likely passage of the Bipartisan Budget Act of 2015 (the president did sign the bill on November 2) whereby Medicare Part B premiums would be much lower than the astronomical amounts...

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11 Dec Congressional Bill Limits Use of Annuities in Medicaid Planning

Posted at 16:42h in Beneficiary, End of Life Care Planning, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security

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The House of Representatives has a proposed bill (HR 1771) that would change long established rules for the use of single premium immediate annuities in planning for the protection of a well-spouse (commonly referred to as the “community spouse”) if his or her spouse needs...

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14 Nov GOVERNMENT PAID NURSING HOME CARE COSTS FOR APPLICANTS WITH AN IRA GETS EASIER

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

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Due to a recent interpretation of the term “annuity” by the Texas Health and Human Services Commission, Medicaid coverage (such as payment of nursing home care costs and drugs) for an applicant with an IRA just became easier. Retirement accounts, such as an IRA or...

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07 Nov STAGGERING INCREASE IN MEDICARE PART B PREMIUMS AVERTED BY CONGRESSIONAL BUDGET DEAL

Posted at 06:00h in Disability Benefits, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Retirement, Social Security, Taxes

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The President has signed the  “Bipartisan Budget Act  of 2015” on November 2 , 2015  that otherwise could have resulted in as much as thirty percent of Medicare beneficiaries seeing a fifty two percent increase in their monthly Medicare Part B premiums (which cover doctor’s...

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31 Oct GOVERNMENT PAID HOME CARE NOW EASIER TO GET

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

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In situations where one spouse needs care (i.e., assistance with activities of daily living) at home, it just became easier to obtain Medicaid coverage where the government pays someone to give care at home. Until the law became effective as of October 1, 2015, the...

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29 Oct Michael spoke at the Baylor Institute for Rehabilitation

Posted at 16:35h in Disability Benefits, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Social Security

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On October 13 Michael B. Cohen spoke at the Baylor Institute for Rehabilitation on issues including Social Security Disability Income (SSDI), Medicare, Supplemental Security Income (SSI), the Medicaid Buy-In and other Medicaid programs. We are currently scheduling speaking engagements for 2016. Please call our office if...

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09 Sep Happy 80th Birthday Social Security!

Posted at 06:00h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement, Social Security, Taxes

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By Richard W. Jackson, CFP®, CRPC, Principal Schlindwein Associates, LLC     Having enough resources to maintain one’s lifestyle throughout retirement is a major concern for most retirees. Social Security income can play a vital role in enjoying a comfortable retirement. With this in mind, the following provides a brief history...

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12 Aug ALZHEIMER’S DISEASE: TEEN DEVELOPS DIAGNOSIS TEST

Posted at 06:00h in Alzheimer’s, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer

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Although at the present time Alzheimer’s disease is determined by looking at the brain after death or through a series of tests, a 15 year old boy from England has developed a potential test of detection well before (as much as 10 years) symptoms appear. The...

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05 Aug SUPREME COURT UPHOLDS HEALTH INSURANCE SUBSIDIES – BUT SUBSIDIES ARE USUALLY LOST AT 65

Posted at 06:00h in Elder Justice, Medicare, Michael Cohen Dallas Elder Lawyer

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  On June 25, 2015, the U.S. Supreme Court protected the rights of consumers in all states, including states that did not set up their own health insurance marketplace to receive tax credits. Chief Justice John Roberts stated “Congress passed the Affordable Care Act to improve...

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