Michael Cohen Dallas Elder Lawyer |

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...

09 Mar Agent Under POWER OF ATTORNEY Faces 25 Years After Unsuccessfully Arguing that Transfers to Self Were for Medicaid Planning Purposes

Posted at 23:11h in Beneficiary, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney

A Texas appeals court has upheld the conviction of an agent under a power of attorney who transferred funds to himself, supposedly to qualify his former grandmother-in-law for Medicaid. In an earlier proceeding, a jury sentenced the agent to 25 years in prison. Natho v....

14 Nov Texas Legislature Creates New Statutory Durable Power of Attorney Form

Posted at 15:46h in Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Trusts

The new Texas Estates Code (which will be replacing the Texas Probate Code) has changed the statutory durable power of attorney form that has been in existence since 1997. This change will be effective as of January 1, 2014. Although the existing forms or other...

15 Apr Arbitration Provisions Held Unenforceable Against Nursing Home Residents

Posted at 17:30h in Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney

It is common for nursing homes to have admission contracts which require nursing home residents to be bound by arbitration clauses - which many think is more advantageous to the nursing home than the risk of a lawsuit against the facility. Thus, even if the...

16 Oct Digital Asset Trusts- Estate Planning for Recent Technology

Posted at 14:11h in Asset Protection, Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Transfer of Death, Trusts, Wills

There are many types of digital assets stored on computers, smart phones, websites, etc., including: (1) personal assets (such as photos, medical records, tax documents, etc.) that require a login with a different password; (2) social media (i.e., Facebook and Twitter, emails that store videos,...

23 May STATE POLICY HANDBOOK ACKNOWLEDGES LADYBIRD (ENHANCED LIFE ESTATE) DEEDS DO NOT RESULT IN A TRANSFER PENALTY

Posted at 16:28h in Assisted Living, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Transfer of Death

As of March 1, 2012, the Texas Medicaid for the Elderly and People with Disabilities Handbook (which is a publication of the policy rules for long –term care Medicaid eligibility) now provides that “a transfer of a person’s home does not result in a transfer...