Michael Cohen Dallas Elder Lawyer

05 Jan CONGRESS PASSES ABLE ACT EFFECTING MEDICAID APPLICANTS AND SPECIAL NEEDS TRUSTS

Posted at 06:18h in 529 plan, Beneficiary, Disability Benefits, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Quality of Life, Social Security, Special Needs, Special Needs Trust, Trusts

On December 16, 2014, Congress passed the Achieving a Better Life Experience Act (ABLE) which allows adults and children with disabilities whose disability occurred before age 26 to shelter up to the annual gift tax exclusion amount (presently $14,000) per year into an account which...

15 Dec IRS ISSUES LONG-TERM CARE PREMIUM DEDUCTIBILITY LIMITS FOR 2015

Posted at 00:46h in Estate Planning, Long Term Care, Medicare, Michael Cohen Dallas Elder Lawyer, Taxes

The Internal Revenue Service (IRS) is increasing the amount taxpayers can deduct from their 2015 taxes as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed...

08 Dec BILLS OF INTEREST TO ELDER LAW ATTORNEYS DURING CONGRESSIONAL LAME-DUCK SESSION

Posted at 00:37h in Beneficiary, Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust, Trusts

Although nothing of particular significance is expected during the present Congressional lame-duck session other than passing a short-term bill to fund the government, there are two bills that elder law attorneys are hoping for passage to help the needs of their clients. One bill that possibly...

11 Nov ELDERLY COUPLE MAY BE ON THE HOOK FOR ADULT SON’S MEDICAL BILLS

Posted at 06:27h in Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home

An Elderly Pennsylvania husband and wife are being asked to pay their deceased adult son’s medical bills under a law making family members responsible for a loved one’s unpaid bills. The case is a reminder that such “filial responsibility” laws may go both ways –...

04 Nov LADYBIRD DEEDS UNDER ATTACK

Posted at 06:18h in Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Transfer of Death, Trusts

Ladybird deeds, which are commonly used to avoid probate and to avoid claims by the state if the property owner receives Medicaid benefits, are under attack. This is a red flag to all Texans whose biggest asset is their home and who have inadequate insurance...

28 Oct UPDATE: MEDICARE FIVE STAR RATING SYSTEM ANNOUNCES IMPROVEMENTS TO BE MADE

Posted at 06:07h in Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home

The White House has announced additional measures to improve the Five Star rating system of Medicare. In last month’s issue of the Texas Elder Law E-letter, we reported about some of the flaws of the current system including certain facilities increasing staff before inspections, etc....

23 Oct STANDBY REVERSE MORTGAGES: POSSIBLE RISK MANAGEMENT TOOL FOR RETIREMENT DISTRIBUTION

Posted at 02:00h in Estate Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Retirement

The Journal of Financial Planning recently reported that a standby reverse mortgage (SRM) can be helpful as a risk management tool to help clients meet their retirement goals. The SRM represents an additional source of readily available cash in a bucket strategy to draw upon...

29 Sep NURSING HOME ARBITRATION AGREEMENT HELD ONLY BINDING WHEN THERE IS PROPER AUTHORITY

Posted at 06:53h in Financial Powers of Attorney, Guardianship, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney

It is common for nursing home admission agreements to indicate that the patient and nursing home are bound by arbitration – which generally results more favorable decisions for the nursing home (as opposed to litigation). Recently, the son of a patient (his mother) seeking entry...

22 Sep MEDICARE NURSING HOME RATING SYSTEM FLAWED

Posted at 06:43h in Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home

Medicare’s rating system for nursing homes is often misleading. Medicare set up a rating system in 2009 with the hopes that nursing homes would make efforts to increase the star rating (maximum of 5 stars) by improving the quality of care. However, some nursing homes have...

15 Sep INJURED HOME HEALTH WORKERS ASSUME THE RISK WHEN HELPING ALZHEIMER’S PATIENTS

Posted at 13:34h in Alzheimer’s, Michael Cohen Dallas Elder Lawyer

On August 4, 2014, the California Supreme Court ruled that Alzheimer’s patients and their families are not liable to home health care workers for injuries the workers incur on the job. In this case, the home health agency was warned that the patient could be...

21 Aug Pets for Seniors = Rx for Happiness and Good Health

Posted at 07:06h in Michael Cohen Dallas Elder Lawyer

Add the UCLA Center for Health Policy Research to the list of groups that have found that pets are important in keeping the elderly not only happy but also in good health. Studies for many years have come to that same conclusion. Previously it had...

12 Aug Medicare Testing Payment Options that affect Limited Nursing Home Coverage

Posted at 10:04h in Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Short Term Care

Medicare is presently allowing pilot projects across the country to determine if it can reduce costs and improve quality of care pursuant to a provision under the Affordable Care Act. At the present time, Medicare coverage for skilled nursing care is limited to patients who...

01 Aug Texas Department of Insurance Permits 75% Increase in Long-Term Care Insurance Premiums

Posted at 15:36h in Assisted Living, Long Term Care, Michael Cohen Dallas Elder Lawyer, Nursing Home

The Texas Department of Insurance (which regulates increases in insurance premiums) has permitted Allianz Life Insurance Company of North America (”Allianz”) to raise its long-term care insurance premiums by 75% to existing policyholders according to an article on July 25 written by Dave Lieber (the...

14 Jul U.S. Supreme Court Rules Inherited IRAs Do Not Have Creditor Protection

Posted at 07:30h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Retirement, Taxes, Trusts

The U.S. Supreme Court ruled on June 12, 2014 that inherited IRAs are not exempt from the claims of creditors under the U.S. Bankruptcy Code. Previously, inherited IRAs were protected from the claims of creditors in many jurisdictions including Texas. After the death of the individual...

07 Jul Drug Study Underway on Healthy at-risk seniors to Protect or Slow Mental Decline

Posted at 06:28h in Alzheimer’s, Long Term Care, Michael Cohen Dallas Elder Lawyer

A major $140 million study (funded by the National Institute of Health, drug manufacturer Eli Lilly & Co and others) began on June 9, 2014 whereby scientists will scan the brains of healthy seniors who presently have no memory problems to learn if those with...

30 Jun Medicaid Compliant Annuities under Attack

Posted at 08:54h in Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer

Although Congress has approved precise rules regarding Medicaid eligibility (including what is needed in an annuity to make it compliant with the Medicaid rules), the state of Pennsylvania has recently attacked the use of annuities in obtaining Medicaid benefits (which often help pay for care...

23 Jun Court Rules Veterans Benefits Income Not Countable in Medicaid Eligibility Determination

Posted at 06:45h in Assisted Living, Medicaid Application, Michael Cohen Dallas Elder Lawyer, Veterans

On June 3, 2014, The U.S. District Court for the District of New Jersey has enjoined the state from counting any Veterans Administration (VA) improved pension income in determining Medicaid eligibility of an applicant for Medicaid. In this case, the Medicaid applicant was about to...

16 Jun National Senior Citizens Law Center Publishes Free Guide On Getting Long-Term Services and Support at Home

Posted at 07:15h in Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home

In an effort to allow more seniors and persons with disabilities to live independently at home as opposed to a nursing home or other institutional setting, the National Senior Citizens Law Center (NSCLC) has recently published a free advocate’s guide. The Medicaid laws for payment...

09 Jun Increased Federal Tax Proposals for year 2015 Budget Announced

Posted at 07:06h in Beneficiary, Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Taxes, Transfer of Death, Trusts

The Obama Administration’s Fiscal Year 2015 Revenue Proposals have been published, and there are numerous suggested proposals which increase taxes in connection with estate planning. Although the Senate passed proposals this past week retaining certain tax incentives for businesses and individuals, the revenue proposals included...

02 Jun Do you trust your Trust?

Posted at 05:02h in Asset Protection, Beneficiary, Divorce, Estate Planning, Lawsuits, Michael Cohen Dallas Elder Lawyer, Public Benefits Protection, Trusts

As a follow up to last month’s Dallas Morning News article by Pamela Yip entitled “Maintaining Trust”, we thought those who receive our email might be interested in the questions that she asked and a more detailed explanation as follows: Q: Do you have the right...

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