estate planning Tag

09 Apr SUCCESS STORY OF THE MONTH – TALES FROM THE CRYPT – HOW TO PROVIDE FOR CHILDREN AND PROTECT ASSETS FROM GREEDY EX-SPOUSE

Posted at 09:00h in Asset Protection, Divorce, End of Life Care Planning, Estate Planning, Inheritance, Long Term Care, Michael Cohen Dallas Elder Lawyer, Probate Administration, Success Story of the Month, Texas Bar Today Top 10 Blog Posts

Divorcee (client) wants an estate plan so that all her assets pass upon her death to her unmarried adult child (who has no descendants), but she wants to make sure that such assets never pass to her manipulating and greedy ex-husband. Since client’s child is...

22 Feb Tax Planning for Non-Taxable Estate after the New Tax Law

Posted at 09:00h in Asset Protection, Disability Benefits, Estate Planning, Long Term Care, Michael Cohen Dallas Elder Lawyer, Taxes

Client, whose husband died relatively recently, is concerned about the potential negative tax impact of the recently passed Tax Cut and Jobs Act (hereinafter the “Tax Act”). Client has 2 pieces of real estate (her home and a property in which her daughter live). The...

18 Dec SUCCESS STORY OF THE MONTH

Posted at 09:00h in Alzheimer’s, Asset Protection, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Quality of Life, Social Security, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Wills

Last Monday we were requested to do a Will for an 89-year-old married woman who was just put on hospice. Due to her being on hospice, we put her as an immediate priority. Her 90-year-old husband has Alzheimer’s disease and is living in an institutional...

20 Nov SUCCESS STORY OF THE MONTH

Posted at 11:00h in Alzheimer’s, Asset Protection, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Quality of Life, Social Security, Special Needs, Special Needs Trust, Success Story of the Month, Transfer of Death, Trusts

13 Nov ONLINE NOTARIZATION COMING TO TEXAS IN 2018

Posted at 11:00h in Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Notarizations

Online notarization, whereby a notarial act is performed by means of two-way video and audio conference that meets standards for credential analysis and identity proofing as well as standards for equipment, security and certain technology, will be permitted in Texas as of July 1, 2018....

30 Oct TEXAS REVOCABLE LIVING TRUSTS ADVANTAGES AND MISCONCEPTIONS

Posted at 11:00h in Asset Protection, Estate Planning, Financial Powers of Attorney, Long Term Care, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Power of Attorney, Probate Administration, Public Benefits Protection, Retirement, Social Security, Trusts

Many are under the mistaken impression that only the wealthy need trusts and that it is never needed in Texas since the probate process (the court process confirming the Will is valid) is simple in Texas compared to many other states. Although what is best for the individual may vary,...

02 Oct ANTICIPATED TRUMP TAX REFORM PROPOSALS – WHAT IT MEANS TO YOU

Posted at 15:11h in Business, Estate Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Retirement, Taxes

Although details of President Trump based on prior statements tax proposals have not yet been released and this is mere speculation, here are a few of the anticipated tax reform proposals: For individuals: Double the standard deduction; Eliminate itemization deductions (other than contributions to retirement savings,...

25 Sep SUCCESS STORY OF THE MONTH

Posted at 11:00h in Beneficiary, End of Life Care Planning, Estate Planning, Long Term Care, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Social Security, Success Story of the Month, Taxes, Wills

Mr. and Mrs. Smith (the names have been changed for confidentiality reasons) had the unusual situation where both of them had to go into a nursing home at approximately the same time. Neither Mr. nor Mrs. Smith has long-term care insurance. Both could live a...

04 Sep 10 WAYS TO PROTECT MY HOME (OR SALES PROCEEDS) FROM MEDICAID ESTATE RECOVERY

Posted at 11:00h in Asset Protection, Disability Benefits, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Power of Attorney, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Taxes, Transfer of Death, Trusts, utma

Although most Texas homes are a non-countable resource (if equity is under $603,000 as of January 1, 2021 if you are single, unlimited if you are married for Medicaid applicants) for long-term care Medicaid eligibility purposes, the state usually has a right to make a claim against the Medicaid recipient’s estate after...

21 Aug WILL NEW LAW RESULT IN INCREASED ACCEPTANCE OF DURABLE POWERS OF ATTORNEY?

Posted at 11:00h in Business, Estate Planning, Financial Powers of Attorney, Guardianship, Lawsuits, Power of Attorney

Many are surprised that financial powers of attorney do not have to be recognized by others including banks and other financial institutions. If the principal (the one who signs the power of attorney) becomes incompetent and the one who is presented with and asked to...