12201 Merit Drive Suite 230 Dallas, TX 75251 | (214) 720-0102 Fax: (214) 754-0936

www.dallaselderlawyer.com

Welcome to the December Issue of the

Texas Elder Law E-Letter

HAPPY HOLIDAYS!

Our next free “Estate Planning Essentials” workshop will be held on Saturday, December 15, 2018 from 10:00 a.m. to noon. Seating is limited. Call (214) 720-0102 to register or sign up online at www.dallaselderlawyer.com. We will also have a workshop on Thursday, January 10, 2019 from 1:00 p.m. to 3:00 p.m. and on Saturday, February 2, 2019 from 10:00 a.m. to noon.

Our Facebook Live Workshop has been postponed to Saturday, February 9, 2019 at 10:00 a.m. We begin each workshop by asking “what questions do you have about estate planning or elder law?” Then we proceed to answer your questions over the course of the workshop.

Also for our estate planning clients who are not presently “maintenance members” (with numerous benefits ranging from a free annual meeting to free phone calls and changes to existing documents as well as other valuable benefits), we are offering a special limited time option to join as a maintenance member if you join before the end of the year. If interested or if you want to find out more, please call (214) 720-0102.

Also, Michael B. Cohen was selected for Marquis Who’s Who in the World for year 2019 which consists of the top 3% of professionals in the world.

Michael B. Cohen’s radio show on estate planning and elder law can be heard on KAAM (770 AM) every Monday at 2:00 p.m., Tuesday at 1:00 p.m. and Saturday at 2:30 p.m. Prior shows (topics are categorized) can be heard as podcasts on Sound Cloud as indicated on our website www.dallaselderlawyer.com.

SUCCES STORY OF THE MONTH - HOODWINKED ELDERLY CLIENT SALVAGES MEDICAID

An elderly client, whose husband lives in a skilled nursing home due to his lack of mental capacity, retains us to apply for long-term Medicaid for her husband so that the government will help pay for his cost of care.

IT'S BETTER TO GIVE THAN RECEIVE - END OF YEAR CHARITABLE GIVING TAX TIPS

The great majority of Americans who were able to get a tax deduction for giving to charities in prior years may no longer itemize and take advantage of such deduction in year 2018 and thereafter.

NURSING HOME MEDICAID INCOME CAP TO RISE

Presently, if an applicant for nursing home Medicaid has “countable” income (certain income is exempt or excluded) over $2,250 per month, then such applicant is ineligible for nursing home or long-term care Medicaid.

MARVEL MOGUL DID NOT NEED SUPERHERO TO PROTECT HIM

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.

VETERANS BENEFITS INCREASE ANNOUNCED

Many non-service connected disabled wartime (which means service during a period of war as defined by VA) veterans or their surviving spouse take advantage of these benefits to help subsidize their care costs.

HOMEWARD BOUND - MEDICAID HOMESTEAD EQUITY (MAXIMUM VALUE) INCREASED TO $585,000

As of January 1, 2019, the equity limit for a homestead applicant (who is single) for either the nursing home Medicaid program or “waiver” home care Medicaid program has increased to $585,000

IRS ANNOUNCES HIGHER 2019 ESTATE AND GIFT TAX LIMITS AND PROPOSES NO CLAWBACK FOR LARGE GIFTS MADE BEFORE 2026

The IRS announced last month that the estate and gift tax exemption will be $11.4 million per individual (up from $11.18 million) as of January 1, 2019.

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Michael B. Cohen & Associates 12201 Merit Dr. Suite 230 Dallas, Texas 75251 United States (214) 720-0102