Happy Thanksgiving

Welcome to the November issue of the Texas Elder Law E-Letter
 
 

 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 Tuesday, December 1, 2020 from 1:00 p.m. until 3:00 p.m. and on Thursday, December 17, 2020 from 1:00 p.m. until 3:00 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.
 
 

If you would like to contribute to our Alzheimer’s Association walk team, Michael’s Marchers, click here.

 

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. 

 
 


Michael B Cohen's Latest Blogs
 
 
 
COMPREHENSIVE TO DO CHECKLIST AFTER LOVED ONE DIES (36 ITEMS TO CONSIDER)
 
While the loss of a loved one may be emotionally devastating, the tasks to accomplish after one dies could be overwhelming. As a result, we have compiled a checklist of some of the important things to consider.
 
 
12 THINGS SENIORS SHOULD DO OR DISCUSS WITH THEIR CHILDREN IN THE EVENT OF DISABILITY OR DEATH (BUT NOT ON THE 12 DAYS OF CHRISTMAS)
 

Communication reduces risk in achieving your desired goals if unfortunate events should occur. The following should be topics of intergenerational discussions that should be addressed regarding estate, financial and health plan being in place for a parent’s later years.
 
 
2021 MAXIMUM RESOURCE LIMITS FOR SPOUSAL MEDICAID
 
As we live longer, there is a greater likelihood of disability and the need for long-term care. However, most Americans have inadequate resources or income for such care and also lack long-term care insurance or similar insurance products. As a result, some elderly and disabled seek public benefits (such as Medicaid) to help defray such cost.
 
 


POTENTIAL TAX RAMIFICATIONS OF THE 2020 ELECTION ON INDIVIDUALS
 

President-elect Biden has suggested various changes in tax laws to help achieve his legislative agenda.  Although 2 Senate seats in Georgia have yet to be decided which could make a difference in likelihood of success in achieving the goals of the President-elect, the following are a few of the tax changes that could occur.
 
 


HOME SWEET HOME MEDICAID HOMESTEAD EQUITY (MAXIMUM VALUE) LIMIT INCREASED TO $603,000 FOR 2021
 

As of January 1, 2021, 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 $603,000.
 
 
 
 
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