Wills

02 Aug SUCCESS STORY OF THE MONTH – HOW TO PROTECT CHILDREN FROM THEMSELVES YOU DON’T HAVE TO BE WEALTHY TO USE TRUSTS

Posted at 09:00h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Planning, Probate Administration, Retirement, Short Term Care, Special Needs, Special Needs Trust, Success Story of the Month, Trusts, Wills

Many have the misconception that only the wealthy need or can use trusts for estate planning. In this case, an elderly couple has two children – one of the children has a drug problem and the other is a spendthrift and has creditor issues. The...

04 Jun SUCCESS STORY OF THE MONTH – PROTECTING THE LOAN ON PARENTS’ HOME FROM MEDICAID ESTATE RECOVERY – LADYBIRD TO THE RESCUE

Posted at 19:44h in Asset Protection, Divorce, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Success Story of the Month, Taxes, Transfer of Death, Wills

Parents own homestead as their major asset. Their health is beginning to decline, and neither of them have long-term care insurance or enough income or assets to pay for long-term care. As a result, if either of them needs long-term care, Medicaid is likely to...

04 Jun FIVE COMMON MISTAKES AT WILL SIGNING

Posted at 14:24h in Beneficiary, Estate Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Probate Administration, Wills

Mistakes made during the signing of a Will are frequently the cause of litigation. Some of the common mistakes are as follows: Attorney should handle the Will signing ceremony. Although it is not required by law that an attorney handle the ceremony, the probability of error is...

01 May U.S. SUPREME COURT RULES THAT EX-SPOUSE NOT ENTITLED TO LIFE INSURANCE

Posted at 15:45h in Beneficiary, Divorce, End of Life Care Planning, Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Retirement, Wills

Although beneficiary designations (such as the beneficiary of a life insurance policy or retirement account) supersede a Will or intestate succession due to the Contracts Clause of the U.S. Constitution, the U.S. Supreme Court has ruled that if the state has a law that results...

01 May WILL BY BLINKING OF EYES APPROVED BY COURT

Posted at 15:28h in End of Life Care Planning, Estate Planning, Michael Cohen Dallas Elder Lawyer, Notarizations, Probate Administration, Texas Bar Today Top 10 Blog Posts, Wills

The Will of a quadriplegic man (the “Testator”), who was unable to speak and who communicated with his attorney through a blinking system, was recently upheld by a Fort Worth appellate court. The attorney asked “yes” or “no” questions to the Testator who responded by blinking....

01 May NEW RETIREMENT SAVINGS ACCOUNT BILL LIKELY TO PASS THIS YEAR

Posted at 09:00h in 401(k), Beneficiary, Business, End of Life Care Planning, Estate Planning, Inheritance, Michael Cohen Dallas Elder Lawyer, Retirement, Taxes, Trusts, Wills

As a result of less employer-sponsored pension plans and the desire of Congress to encourage savings for retirement, it is anticipated that Congress will pass the Setting Every Community Up for Retirement Enhancement (SECURE) Act later this year as it has bipartisan support. It will...

11 Apr SMALL ESTATE AFFIDAVIT – CHEAPER OPTION TO TRANSFER ASSETS AFTER DEATH

Posted at 19:27h in Asset Protection, End of Life Care Planning, Estate Planning, Guardianship, Michael Cohen Dallas Elder Lawyer, Transfer of Death, Wills

If a Texas resident dies (the “decedent”) without a Will (“intestate”) and the estate assets are less than $75,000 (excluding exempt property such as a homestead if it retains its homestead status when there is a surviving spouse and minor children of the decedent in...

11 Apr PROPOSED NEW LEGISLATION: ONE MORE WAY TO DETERMINE STATUTE OF LIMITATIONS FOR GOVERNMENT TO MAKE CLAIM AGAINST YOUR HOME

Posted at 19:26h in Assisted Living, Beneficiary, End of Life Care Planning, Estate Planning, Lady Bird Deed, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Transfer of Death, Trusts, Wills

Although there are numerous ways to avoid a successful claim for estate recovery by the state government for Medicaid benefits (such as long-term care in a nursing home, assisted living facility or care at home, in addition to drugs) as set forth in a prior...

07 Mar TO ERR IS HUMAN, TO PURR IS FELINE – FASHION DESIGNER LAGERFELD LIKELY MAKES HIS CAT, CHOUPETTE, WORLD’S RICHEST CAT (BREAKING MEWS)

Posted at 17:25h in Disability Benefits, End of Life Care Planning, Estate Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Trusts, Wills

When world famous Chanel fashion designer Karl Lagerfeld died on February 19, 2019, it has been widely speculated that a good portion of his estimated estate of more than $150,000,000.00 will be inherited by his Birman cat, Choupette, if proper legal planning was prepared. Lagerfeld...

07 Mar UNGRATEFUL DEAD – FIVE WAYS TO DISINHERIT YOUR CHILD

Posted at 17:16h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Inheritance, Michael Cohen Dallas Elder Lawyer, Probate Administration, Trusts, Wills

Although most parents do not want to disinherit a child, sometimes they become estranged for reasons ranging from disrespect by the child to the child doing some sort of criminal act. As a result, sometimes disinheritance becomes logical and needed. The following are a few ways...

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...

06 Sep DID ARETHA FRANKLIN GIVE HER HEIRS ANY “R-E-S-P-E-C-T”?

Posted at 14:40h in Disability Benefits, Estate Planning, Inheritance, Long Term Care, Michael Cohen Dallas Elder Lawyer, Music, Probate Administration, Special Needs, Special Needs Trust, Taxes, Wills

Aretha Franklin, the beloved “queen of soul” died on August 16 with an estimated $80 million estate without a Will or other estate planning documents. She was survived by four sons – one of whom has special needs. Although her music and legacy will live...

31 Jul 2ND SUCCESS STORY OF THE MONTH – JUDGE TO HELP ALAMO DESCENDANTS SAVE “TARA” WITH ORDER PERMITTING LADYBIRD DEED

Posted at 20:48h in End of Life Care Planning, Estate Planning, Guardianship, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Success Story of the Month, Transfer of Death, Wills

An ancestor of client received a Spanish land grant for what is presently client’s homestead with the acreage surrounding it. The property has been passed from generation to generation for almost 200 years (well before Texas became a state). One of client’s ancestors was even...

11 Jul SUCCESS STORY OF THE MONTH – WHERE THERE IS A BAD WILL, THERE IS A WAY

Posted at 19:15h in Beneficiary, Divorce, Estate Planning, Notarizations, Probate Administration, Short Term Care, Success Story of the Month, Wills

Husband and wife (2nd marriage for each and both having children of prior marriage) purchase real estate together, but they fail to deed it into their joint revocable trust that they signed twenty years ago. Since the property wasn’t deeded into the trust, there was need...

14 Jun BABY YOU CAN DRIVE MY CAR – FINALLY! NEW FORM LIKE LADYBIRD DEED OR TOD DEED FOR A CAR

Posted at 17:40h in Beneficiary, Estate Planning, Lady Bird Deed, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Transfer of Death, Wills

After almost a year since Governor Abbott signed the bill allowing vehicle owners to transfer their vehicle upon death to a beneficiary (and they can sell their car without the consent of the beneficiary), the Department of Motor Vehicles (DMV) finally created a one-page form...

14 Jun 7 REASONS TO NOT GIVE OUTRIGHT ASSETS TO YOUR CHILD

Posted at 17:31h in Asset Protection, Beneficiary, Disability Benefits, Divorce, End of Life Care Planning, Estate Planning, Guardianship, Inheritance, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Public Benefits Protection, Trusts, Wills

It is common for parents with simple wills or trusts to have their children inherit and have outright ownership of parents’ assets after the parents’ death. However the following seven (7) reasons are advantages for the child to inherit by trust (not including, the power often...

01 Jun SUCCESS STORY OF THE MONTH – WHERE THERE IS NO WILL THERE IS A WAY

Posted at 09:00h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Guardianship, Lady Bird Deed, Long Term Care, Medicaid Planning, Nursing Home, Power of Attorney, Special Needs, Special Needs Trust, Success Story of the Month, Wills

Married couple has no estate planning documents (no Will, no power of attorney, etc.) and the husband has lost mental capacity (you cannot sign a Will, power of attorney, etc. if you lack sufficient mental capacity). Husband is institutionalized and it is anticipated that he...

01 May BARBARA BUSH – DEATH WITH DIGNITY: END-OF-LIFE CARE PLANNING

Posted at 09:00h in Disability Benefits, End of Life Care Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Wills

Prior to her death last week, Barbara Bush, wife of former President George H.W. Bush, decided she wanted comfort care at home during her final days as opposed to being connected with machines to keep her alive. She knew she was going to die –...

24 Apr THE TEXAS TWO-STEP: HOW MUCH CAN AN EXECUTOR BE PAID?

Posted at 09:00h in Estate Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Taxes, Wills

A common question by someone who has been appointed as an executor of a Will after the Will has been probated (the process where it is determined the decedent’s Will is valid) is “What can I charge for acting as Executor?” After all, it often...

22 Mar SUCCESS STORY OF THE MONTH: TAP THE BRAKES ON PROBATE AND PUT IT IN REVERSE (MORTGAGE)

Posted at 09:00h in Asset Protection, Beneficiary, Disability Benefits, Estate Planning, Home Equity, Long Term Care, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Success Story of the Month, Taxes, Wills

Mom dies at age 99 with three (3) surviving children. Mom has $50,000 in a bank account, $20,000 of debt and a home (which has homestead exemption) worth $150,000 that has no lien against it. One daughter, age 70, is unmarried (hereinafter referred to as...

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