Success Story of the Month

08 Mar SUCCESS STORY OF THE MONTH – GRANDCHILD YELLS “HOORAY” FOR GIFT THAT MEDICAID SAYS IS OK

Posted at 22:05h in 529 plan, Beneficiary, Estate Planning, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Success Story of the Month, utma

This is a case where a client took advantage of one of the exceptions to the long-term Medicaid transfer penalty rules to shift the burden of the cost of care to Medicaid while helping fund her grandchild’s college education. Elderly single client (who has limited resources)...

12 Feb SUCCESS STORY OF THE MONTH – SPENDLESS SPENDDOWN

Posted at 21:18h in Divorce, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Retirement, Social Security, Success Story of the Month

Husband (the “institutionalized spouse”) enters into a nursing home in November 2018 while his 70 year old wife (the “community spouse”) lives at home. Husband has no long-term care insurance and his income is insufficient to pay for his care (generally at least $5,000 to...

16 Jan SUCCESS STORY OF THE MONTH – IRREVOCABLE ‡ UNCHANGEABLE

Posted at 16:14h in Beneficiary, End of Life Care Planning, Estate Planning, Lawsuits, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Success Story of the Month, Trusts

Often clients are surprised to learn that their “irrevocable” trust can be changed. There are several ways to make changes to an irrevocable trust including by court order, agreement of all interested parties, decanting (pouring into another trust), or by simply exercising a “power of...

13 Dec SUCCESS STORY OF THE MONTH – HOODWINKED ELDERLY CLIENT SALVAGES MEDICAID

Posted at 19:10h in Beneficiary, Estate Planning, Guardianship, Long Term Care, Medicaid Application, Medicaid Planning, Nursing Home, Probate Administration, Success Story of the Month

An elderly client, whose husband lives in a skilled nursing home due to his lack of mental capacity, retains us to apply for long-term Medicaid for her husband so that the government will help pay for his cost of care. However, to be eligible for...

13 Dec MARVEL MOGUL DID NOT NEED SUPERHERO TO PROTECT HIM

Posted at 19:03h in Asset Protection, Business, Disability Benefits, Estate Planning, Long Term Care, Power of Attorney, Success Story of the Month, Trusts, Wills

Stan Lee, the Marvel Comics co-creator of superheroes such as Spider-Man, Black Panther, Fantastic Four and the Hulk, recently died at age 95 after experiencing a mental decline. Predators such as his caregiver, daughter and business associates all tried to gain control of his assets...

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

Posted at 19:33h in Dementia, Estate Planning, Guardianship, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Success Story of the Month, Transfer of Death

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...

02 Nov 2019 PROJECTED MAXIMUM RESOURCE LIMITS FOR VA BENEFITS AND SPOUSAL MEDICAID

Posted at 19:16h in Disability Benefits, Divorce, Elder Justice, Home Equity, Long Term Care, Medicaid Application, Medicaid Planning, Nursing Home, Social Security, Success Story of the Month, Veterans

As we live longer, there is a greater likelihood of disability and the need for long-term care. However, most Americans have inadequate resources for such care and also lack long-term care insurance or similar insurance products. As a result, some elderly and disabled seek public...

05 Oct SUCCESS STORY OF THE MONTH – “HONOR THY FATHER AND MOTHER” – OR ELSE!

Posted at 15:07h in Asset Protection, Beneficiary, Disability Benefits, Success Story of the Month, Trusts

Mother and father created an irrevocable trust which mother and father retained control of the assets and were trustees. After mother and father’s death, all their assets were to be distributed equally between their two daughters although the assets would pass to the daughters in...

07 Sep SUCCESS STORY OF THE MONTH – FINANCIALLY CHALLENGED UNMARRIED ADULT CHILD SAVES PARENT’S HOME FROM STATE’S REIMBURSEMENT CLAIM

Posted at 13:00h in Estate Planning, Home Equity, Long Term Care, Medicaid Planning, Nursing Home, Success Story of the Month

Client’s largest resource is her $205,000 homestead which does not count as a resource for “means-tested” long-term Medicaid benefits (provided the Medicaid applicant is single and the equity limit is under $572,000 pursuant to Texas law). Client obtains long-term care Medicaid resulting in the government...

06 Sep POSSIBLE LOSS OF HOME TO GOVERNMENT FOR REPAYMENT OF BENEFITS LEADS TO ELDER ABUSE

Posted at 22:42h in Asset Protection, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Success Story of the Month, Transfer of Death, Trusts

The granddaughter of an elderly California resident was recently sentenced to jail for 17 years for elder abuse after her grandmother was discovered with open wounds and bed sores which resulted in the grandmother’s death due to the granddaughter’s (and daughter’s) neglect. The daughter (who...