Welcome to the January Issue of the

Texas Elder Law E-Letter
 
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Our office is now open (although some are working remotely). We are giving options to meet in person or virtually (phone calls, audio/video meetings, etc.)  as we continue to follow CDC guidelines. Our next free virtual “Estate Planning Essentials” workshop will be on Thursday, February 13, 2021 from 10:00 a.m. until 12:00 p.m. Call (214) 720-0102 to register or sign up online at www.dallaselderlawyer.com. 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. Our goal is to make it easy for you to attend from the comfort of wherever you reside.
Due to so many requests for our article about what to do when a loved one dies, we have now attached a list of 47 things to do consider at that time on the home page of our website – www.dallaselderlawyer.com.      

 

Please note that Michael B. Cohen’s radio show on estate planning and elder law can be heard on KAAM (770 AM) on Mondays and Tuesdays at 1:00 p.m. and Saturday at 10:00 a.m. Prior shows (topics are categorized) can be heard as podcasts on SoundCloud and as indicated on our website www.dallaselderlawyer.com. Our podcasts can also be heard on Spotify and Apple Podcasts. Subscribe to be notified of future releases. 

 
 
 

 

Top Six Most Read Articles of 2020
 
 
 
 

 

Michael B Cohen's Latest Blogs
 
 
 
 
‘TIL DEATH DO US PART, SURVIVING SPOUSE PROTECTIONS (EVEN IF DISINHERITED)
 
Do you think that if you are married that your spouse automatically is entitled to all of your assets?

Do you think that if you disinherit your spouse or perhaps your children in your Will that they automatically will not be entitled to any rights to your assets?

If you thought the answer is “yes” to either question, then you might be surprised.
 
 

 

 

READY, WILLING AND ABLE FOR FINAL REGULATIONS OF ABLE ACCOUNTS?
 
The IRS has issued final regulations for Able accounts, a tax-advantaged savings account for those determined to be disabled before age 26, pursuant to the Achieving a Better Life Experience (Able) Act that was passed six years ago. Funds deposited into Able accounts do not risk loss of Supplemental Security Income, Medicaid and other government benefits assuming the qualifications are met. 
 
 

 

 

SUCCESS STORY OF THE MONTH – IT IS BETTER TO GIVE THAN RECEIVE – UNLESS YOU APPLY FOR MEDICAID
 
Facts: Potential Medicaid applicant for governmental assistance to help pay nursing home costs had limited amount of cash and monthly income and had given away money to a relative who spent the money gifted and could not give anything back. This success story is an illustration of how to overcome mistakes made prior to getting legal advice. 
 
 

 

 

WHAT FEE IS “REASONABLE” FOR A NON-PROFESSIONAL TRUSTEE UNDER TEXAS LAW?
 
Many trusts indicate that the trustee is entitled to “reasonable compensation”.  Also, unless the terms of the trust provide otherwise, the trustee is entitled to “reasonable compensation” from the trust for acting as trustee under Texas law but there is no guidance as to “reasonable compensation”.
 
 
 
 
 
 
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