Who says you can’t save more than the “maximum”? This case illustrates how you can protect more assets than the “maximum” pursuant to long-term care Medicaid rules. FACTS: Wife, 70, has dementia and needs long-term care. She has no long-term care insurance. She receives Social Security of...
Last month a lawsuit was filed against Jerry Jones to determine if Jones is the father of a child (Alexandra Davis) who was not born of Jones’ marriage to his wife. Last year a will contest was filed against the Estate of Charley Pride by a...
Cryptocurrency (digital currency such as Bitcoin) is on the rise in the U.S. which causes a need for additional planning not previously contemplated by estate planners. Records are kept by blockchain (not by the government) and purchased on exchanges such as Coinbase. Owners can access their...
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...
Texas law does not provide domestic partners or significant others the same home protection rights as a surviving spouse. If you are married, your surviving spouse has a right to live in the homestead of the deceased spouse for the remainder of the surviving spouse’s...
Diamonds may be a girl’s best friend, but actress Anna Strasberg (who some say Monroe never met or only met once) received much more than that from the legendary actress – even though that was probably not Monroe’s intention. Monroe, who died in 1962, left her...
Harry and Meghan’s recent explosive interview by Oprah Winfrey has sent shockwaves to the Royal family. Will this result in a different estate plan for Queen Elizabeth? Although Prince Charles and Prince William were probably already likely to receive a king-sized portion of Her Majesty’s...
When someone fails to plan for his or her estate, it means that person is letting the state determine how and to whom assets should pass upon death of that individual. It may or may not be distributed the way the deceased wanted and the...
Most Texans have inadequate income and resources or lack long-term care insurance to pay for the cost of long-term care (such as nursing home and assisted living care or care at home). As a result, they often use long-term care Medicaid to help pay for...
Although you would think the rich and famous would be the last to make estate planning errors, but they make mistakes (from which we can learn) like others. Here are some celebrity estate planning mistakes: No Estate Plan. Famous singers Prince and Aretha Franklin failed to...
