Newsletters

Podcasts

Blog

Call or Text (469) 210-5270

 

Trusts

20 Aug

Posted at 16:12h in Asset Protection, Beneficiary, Estate Planning, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Retirement, Special Needs, Special Needs Trust, Taxes, Trusts, Wills

Prior to the passage of the SECURE ACT, trusts named as a beneficiary of a retirement account could be prepared to stretch distributions (for tax-deferred growth) over the lifetime of the designated beneficiary. However, unless the beneficiary is either (1) a spouse; (2) someone less...

11 Jul

Posted at 11:07h in Assisted Living, Divorce, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Short Term Care, Social Security, Transfer of Death, Trusts

Originally long-term care Medicaid (which often helps pay for care at nursing homes, some assisted living facilities and care at home) was for the indigent. As we are reaching the silver tsunami, the long-term care Medicaid rules for eligibility become more important since most Americans...

11 Jul

Posted at 10:59h in 529 plan, Disability Benefits, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Transfer of Death, Trusts, utma

It is not unusual that grandparents want to help pay for a grandchild’s wedding, college or private school education, camp, car or other items which they feel may help a grandchild. However, the following matters should be considered before a grandparent makes a gift to...

03 May

Posted at 17:43h in Asset Protection, Beneficiary, Business, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts

Revocable living trusts are useful in estate planning for many different reasons (avoidance of probate, privacy, quick transition of an on-going business, etc.) but there are only limited situations when they are helpful in planning for long-term care Medicaid which helps pay for nursing home...

03 May

Posted at 17:39h in Asset Protection, Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Probate Administration, Public Benefits Protection, Transfer of Death, Trusts

Whenever you borrow from a bank or other lender to purchase residential real estate or borrow against the equity, it is typical that there is a “due-on-sale” clause in your deed of trust or mortgage. This gives the lender the ability to require full payment...

13 Apr

Posted at 15:59h in Asset Protection, Beneficiary, Estate Planning, Financial Powers of Attorney, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Power of Attorney, Probate Administration, Public Benefits Protection, Taxes, Transfer of Death, Trusts, Wills

There are certain requirements for a last will and testament to be valid in Texas including: (1) being of sound mind; (2) being the age of majority (or married or a member of the armed forces of the U.S.); (3) not being unduly influenced; (4)...

15 Mar

Posted at 21:00h in Asset Protection, Beneficiary, Charitable Giving, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Long Term Care, Medicaid Planning, Probate Administration, Public Benefits Protection, Taxes, Trusts, Wills

Instead of your beneficiary inheriting outright, below are eight situations whereby you may want a trust for various protection: If your beneficiary is a minor or too immature to handle assets If your beneficiary is a minor, then the beneficiary (as a matter of law) cannot make...

15 Mar

Posted at 20:42h in Beneficiary, Estate Planning, Inheritance, Medicaid Planning, Probate Administration, Retirement, Social Security, Taxes, Trusts

There are often misconceptions on some basic tax issues in planning (income, gifts, estate, etc.). The following describes some of the common issues where there is a lack of understanding. Trusts do not need a separate tax identification number if you retain enough control Since you retain...

15 Mar

Posted at 20:36h in Asset Protection, Assisted Living, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Lady Bird Deed, Long Term Care, Medicaid Planning, Medicare, Nursing Home, Probate Administration, Public Benefits Protection, Social Security, Special Needs, Special Needs Trust, Trusts, Veterans

There are a variety of public benefits programs ranging from taking care of drug costs to long-term care costs to assistance for food and shelter. Although some public benefits programs such as Social Security Disability and Medicare are not “means-tested”, eligibility for most public benefits...

Skip to content