Michael Cohen Dallas Elder Lawyer |

30 Jan Success Story of the Month – Rearranging Assets for Government Care Assistance

Posted at 14:05h in 529 plan, Asset Protection, Dementia, Estate Planning, Financial Powers of Attorney, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Public Benefits Protection, Success Story of the Month, utma

Mom has dementia that has resulted in the need for skilled care. Although mom owns a homestead, she now lives with daughter due to the dementia. Mom has no long-term care insurance. Mom’s only assets are the home (which she purchased for $200,000 – although...

22 Jan Home Sweet Home – Equity Limit Increased for 2025 Announced

Posted at 13:51h in End of Life Care Planning, 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, Transfer of Death

As of January 1, 2025, the homestead equity limit for a Medicaid applicant who is not married and who either applies for the nursing home Medicaid program or “waiver” home care Medicaid program will increase to $730,000 ($713,000 in year 2024). Thus, if the home...

01 Jan Decision Tree Chart on Ladybird Deeds vs. Transfer on Death Deeds

Posted at 09:40h in Asset Protection, Beneficiary, End of Life Care Planning, Estate Planning, Home Equity, Lady Bird Deed, Long Term Care, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Mortgage, Power of Attorney, Probate Administration, Public Benefits Protection, Special Needs, Special Needs Trust, Taxes, Transfer of Death, Trusts

Decision Tree Chart on Ladybird Deeds vs. Transfer on Death Deeds Many ask the question on the differences between an Enhanced Life Estate (Ladybird) Deed and a Transfer on Death Deed since both avoid probate. In other words, the grantee/beneficiary of the deed would simply either...