12201 Merit Drive Suite 230 Dallas, TX 75251 | (214) 720-0102 Fax: (214) 754-0936 | www.dallaselderlawyer.com
Personal Message

Welcome to the February issue of the Texas Elder Law E-letter  

Our free monthly “Estate Planning Essential Workshops” continue to be “sold out”. Our next workshop is scheduled for March 17 at 2:00 p.m. If interested in this free workshop, call (214) 720-0102 or sign up on our website at www.dallaselderlawyer.com. In addition, you may sign up on our website for an informative (and delicious) Social Security Seminar with expert Tom Clark, presented with Ricker Retirement Specialists on Tuesday, March 24, 2015 at Abuelo’s 3420 North Central Expressway, Plano, Texas 75075 from 6:00-7:30 p.m. This seminar is primarily designed for those between 55-65. Also, if you are interested in attending a Workshop for Widows - designed for either widows or financial planners, either give us a call at (214) 720-0102 or find the information about the event at http://bit.ly/17B6EEB.

Also, if you wish to be a part of our walk team (whether you walk or not) for the benefit of the Alzheimer’s Association, you may also sign up for that on our website at www.dallaselderlawyer.com. Also finally, don’t forget Michael B. Cohen can be heard on KAAM 770 every Tuesday at 1:30 p.m. and 2:30 on Saturday except when it conflicts with SMU basketball (so, for example on February 27 we will be heard at 1:30 p.m. instead of February 28 due to a game). Podcasts of the shows are also available on our website.

Michael B. Cohen & Associates, Ricker Retirement Specialists, Tom Clark, are not affiliated, and the companies have not requested nor authorized any association with Michael B. Cohen & Associates.

MEDICAID TRANSFER PENALTY DIVISOR TO BE INCREASED IN YEAR 2015

It is anticipated that the Texas Medicaid transfer penalty divisor will be increased to the rate of $162.41 for those who apply for long-term care Medicaid on or after September 1, 2015.

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IRAs UNDER ATTACK!

President Obama has attacked Individual Retirement Account (IRAs) as indicated by his Fiscal Year 2016 Budget released two weeks ago.

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PRESIDENT PROPOSES CHANGES TO GIFT TAX LAWS

Under current law, a donor may give $14,000 per year, per person, without having to report such gift to the IRS or be subject to gift taxes.

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SPECIAL NEEDS TRUST FAIRNESS ACT REINTRODUCED TO HELP DISABLED PERSONS

Although the Special Needs Trust Fairness Act did not pass in the last federal legislative session, it has been introduced again to overcome the present legal presumption that all disabled persons lack sufficient mental capacity to handle their own assets

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LONG-TERM CARE INSURANCE CONTINUE TO INCREASE

According to the 2015 Long-Term Care Insurance Price Index, long-term care insurance premiums increased approximately 8.6% in year 2014 as a result of higher claim costs and low interest rates.

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ASSISTED LIVING FACILITY PAYS $750,000 FOR UNLAWFUL CONFINEMENT TO ESTATE OF “KUNG FU” JUDGE

A New York assisted living facility which was alleged to have kept former Brooklyn judge John Phillips confined to its facility against his will for 8 months prior to his death and banned his family members to visit him has agreed to pay $750,000 to his e

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The Overuse of Antipsychotic Drugs in Nursing Homes

Many nursing homes are improperly prescribing antipsychotic drugs to patients even though federal law has put restrictions on their use.

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Redo Your Estate Plan When You Remarry

If you are getting remarried, you obviously want to celebrate, but it is also important to focus on less exciting matters like redoing your estate plan.

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