medicaid estate recovery - Michael Cohen Dallas Elder Lawyer

27 Jan WHO GETS YOUR PROPERTY IF THE GRANTEE/BENEFICIARY OF YOUR LADYBIRD DEED PREDECEASES YOU?

Posted at 16:38h in Estate Planning, Lady Bird Deed, Michael Cohen Dallas Elder Lawyer, Probate Administration

A Ladybird deed is an enhanced life estate deed whereby the named beneficiary (grantee) is to be entitled to the property upon the death of the property owner (the grantor). It is considered a transfer subject to divestment (grantor changing his or her mind unless...

05 May 5 REQUIRED GOVERNMENT REIMBURSEMENT PROVISIONS IN ADDITION TO PROBATE

Posted at 14:52h in Estate Planning, Medicaid Planning, Miller Trust, Public Benefits Protection

There are numerous Medicaid programs that require a pay-back of governmental benefits advanced after the death of the Medicaid recipient. This is most common is if the will of the deceased is probated or under the laws of intestacy (when the Medicaid recipient doesn’t have...

28 Apr IS A HOUSEBOAT A HOME? lAWS ADRIFT – WILL PROTECTION SINK?

Posted at 18:22h in Asset Protection, Bankruptcy, Medicaid Planning, Property Taxes, Taxes, Wills

Laws vary on whether a houseboat is a home, if it is protected from creditors or if there can even be any tax benefits. Medicaid, bankruptcy and the Internal Revenue Code all address treatment of houseboats. MEDICAID TREATMENT OF HOUSEBOATS AS HOME: Under long-term care Medicaid...

17 Feb Are Mobile Homes a Stepchild in Beneficiary Designations?

Posted at 10:17h in Beneficiary, Estate Planning, Lady Bird Deed, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Probate Administration, Public Benefits Protection, Transfer of Death, Trusts, Wills

It is often the goal of many to simply avoid probate even though it is often best to have a Will or Trust to consider protection for the beneficiary. Financial accounts can be established with a beneficiary designation to avoid probate. Real estate can be...

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...

01 Apr Medicaid Estate Recovery Kill Bill

Posted at 15:01h in Asset Protection, Beneficiary, Business, Disability Benefits, End of Life Care Planning, Estate Planning, Lady Bird Deed, Medicaid Application, Medicaid Planning, Medicare, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Social Security, Transfer of Death, Trusts

U.S. Congresswoman Jan Schakowsky of Illinois has proposed a bill that would end Medicaid estate recovery (Medicaid estate recovery is the process to recoup care costs such as nursing home care, care at home, medications, etc.) from the estate of the deceased Medicaid recipient. Typically,...

04 Oct 8 Exceptions To Losing “Tara” Under Texas Medicaid Estate Recovery Laws

Posted at 11:15h in Asset Protection, Beneficiary, Disability Benefits, End of Life Care Planning, Estate Planning, Lady Bird Deed, Medicaid Application, Medicaid Planning, Michael Cohen Dallas Elder Lawyer, Nursing Home, Probate Administration, Public Benefits Protection, Social Security, Transfer of Death

Tara, the fictional plantation in “Gone with the Wind”, was more than Scarlett O’Hara’s plantation home. It was a symbol of family and continuity for Scarlett. The homestead is often the most important (in addition to being the most valuable) asset that a deceased person...