Trusts

04 Aug MICHAEL B. COHEN SETS LEGAL PRECEDENCE IN WILL REFORMATION CASE

Posted at 09:10h in Elder Justice, Estate Planning, Michael Cohen Dallas Elder Lawyer, Special Needs, Special Needs Trust, Trusts, Wills

Last year, our state legislature revised the Estates Code whereby the will of one who is deceased could be modified or reformed by a court for either tax reasons or in connection with qualification or eligibility for public benefits. About one month after the law...

21 Jul DALLAS AMBUSH: GUN CONTROL FROM AN ESTATE PLANNER’S PROSPECTIVE

Posted at 09:03h in Estate Planning, Michael Cohen Dallas Elder Lawyer, Trusts

The recent despicable murders of Dallas and Baton Rouge policemen in addition to the inexcusable killings in Orlando by another deranged madman has raised gun control issues to the forefront. Our nation and our police forces are on high alert as tensions are at the...

09 Jun WHAT IS A MILLER TRUST?

Posted at 09:14h in Beneficiary, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Miller Trust, Nursing Home, Social Security, Trusts

**Please note that the Medicaid income and asset limitations are subject to change, please click here for 2018 Medicaid Numbers** Although “Miller” or “Qualified Income” Trusts have been around for over twenty years (this author has been doing them since they were first approved in Texas in...

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

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...

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

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,...

10 Apr SPECIAL NEEDS TRUST FUNDED BY IRAs

Posted at 06:00h in Beneficiary, End of Life Care Planning, Inheritance, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Retirement, Special Needs, Special Needs Trust, Trusts

To Stretch or Not? According to a U.S. Census report, around 13 percent of our U.S. population who are not in an institution are disabled. It is anticipated with an aging population that over 50 million Americans are disabled. As a result, many plan for those...

09 Mar Special Needs Trust Fairness Act Reintroduced

Posted at 06:00h in Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Quality of Life, Special Needs, Special Needs Trust, Trusts

Although the Special Needs Trust Fairness Act did not pass in the last federal legislative session, it has been introduced again to overcome the present legal presumption that all disabled persons lack sufficient mental capacity to handle their own assets. As a result of a law...

13 Feb VA PROPOSES SWEEPING CHANGES TO PENSION RULES

Posted at 06:00h in Assisted Living, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Trusts, Veterans

The Veteran’s Administration has proposed new rules for eligibility for VA pensions and the Aid and Attendance benefit which are often used by wartime Veterans or their surviving spouses to help pay for the cost of care such as assisted living facilities and nursing homes....

29 Jan DISABLED CHILDREN OF MILITARY FAMILIES HELPED BY PASSAGE OF NATIONAL DEFENSE AUTHORIZATION ACT OF 2015

Posted at 23:16h in Guardianship, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Quality of Life, Special Needs, Special Needs Trust, Trusts

As a result of the Congressional passage of the National Defense Authorization Act (NDAA) of 2015 on December 12, 2014, disabled children of military families have been given the right to have their parents’ survivor benefits to go into a special needs trust. Until this...

28 Jan Veterans (or the Surviving Spouse of the Veteran) Get Small Benefit Increase in year 2015 for Care Cost

Posted at 21:54h in Assisted Living, Disability Benefits, Divorce, Michael Cohen Dallas Elder Lawyer, Nursing Home, Trusts, Veterans

Veterans who served during wartime (not dishonorably discharged), or the surviving spouse of the wartime veteran, will be getting a slight increase (considered a pension) to be used for care at home, assisted living facilities or in a nursing home from the Department of Veterans...

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...

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...

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...

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...

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...

27 Dec Veterans (or the Surviving Spouse of the Veteran) Get Small Benefit Increase in year 2014 for Care Cost

Posted at 09:42h in Assisted Living, Divorce, Michael Cohen Dallas Elder Lawyer, Nursing Home, Trusts, Veterans

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...

Medicaid Services

Trusts

04 Aug MICHAEL B. COHEN SETS LEGAL PRECEDENCE IN WILL REFORMATION CASE

21 Jul DALLAS AMBUSH: GUN CONTROL FROM AN ESTATE PLANNER’S PROSPECTIVE

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

10 Apr SPECIAL NEEDS TRUST FUNDED BY IRAs

09 Mar Special Needs Trust Fairness Act Reintroduced

13 Feb VA PROPOSES SWEEPING CHANGES TO PENSION RULES

29 Jan DISABLED CHILDREN OF MILITARY FAMILIES HELPED BY PASSAGE OF NATIONAL DEFENSE AUTHORIZATION ACT OF 2015

28 Jan Veterans (or the Surviving Spouse of the Veteran) Get Small Benefit Increase in year 2015 for Care Cost

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

04 Nov LADYBIRD DEEDS UNDER ATTACK

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

09 Jun Increased Federal Tax Proposals for year 2015 Budget Announced

02 Jun Do you trust your Trust?

27 Dec Veterans (or the Surviving Spouse of the Veteran) Get Small Benefit Increase in year 2014 for Care Cost

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

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Trusts

04 Aug MICHAEL B. COHEN SETS LEGAL PRECEDENCE IN WILL REFORMATION CASE

21 Jul DALLAS AMBUSH: GUN CONTROL FROM AN ESTATE PLANNER’S PROSPECTIVE

09 Jun WHAT IS A MILLER TRUST?

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

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

10 Apr SPECIAL NEEDS TRUST FUNDED BY IRAs

09 Mar Special Needs Trust Fairness Act Reintroduced

13 Feb VA PROPOSES SWEEPING CHANGES TO PENSION RULES

29 Jan DISABLED CHILDREN OF MILITARY FAMILIES HELPED BY PASSAGE OF NATIONAL DEFENSE AUTHORIZATION ACT OF 2015

28 Jan Veterans (or the Surviving Spouse of the Veteran) Get Small Benefit Increase in year 2015 for Care Cost

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

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

04 Nov LADYBIRD DEEDS UNDER ATTACK

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

09 Jun Increased Federal Tax Proposals for year 2015 Budget Announced

02 Jun Do you trust your Trust?

03 Feb SOCIAL SECURITY ADMINISTRATION ISSUES NEW POLICY INTERPRETATION CONCERNING SPECIAL NEEDS TRUSTS

27 Dec Veterans (or the Surviving Spouse of the Veteran) Get Small Benefit Increase in year 2014 for Care Cost

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

24 Jun VA Benefits Planning Under Attack- Again