The Dove Firm PLLC

The federal ABLE (“Achieving a Better Life Experience”) Program, signed into law in December, 2014, was created to encourage and assist individuals and families in saving funds for the purpose of supporting individuals with disabilities. The Texas ABLE program, enacted a year later and administered by the Texas Comptroller’s Office, is not yet open for enrollment, but the Texas Comptroller announced on February 16, 2018, that significant progress had been made on implementing the program. The program manager is completing the marketing, enrollment, and record-keeping websites and developing program material. No date has yet been announced as to when the Texas program will be open for enrollment. In the meantime, however, eligible Texas residents can open an account in any state with an active ABLE program that accepts out-of-state residents. Over twenty states currently have active ABLE programs, and most of those programs will accept Texas residents. Of further note, there have been som...

ABLE Accounts are tax-advantaged savings accounts for individuals with disabilities and their families. ABLE accounts were created by federal legislation passed in 2014 (“the ABLE Act”), which recognized the fact that millions of individuals with disabilities rely on public assistance such as SSI and Medicaid for their living expenses, housing, and health care. Eligibility for these public benefits has a strict means test — no more than $2,000 in savings and other assets. Recognizing that the living costs for disabled individuals are often significantly higher than normal, the ABLE Act provides that special ABLE savings accounts can be established by the individuals and their families without jeopardizing eligibility for public assistance.  The ABLE Act limits eligibility to individuals whose disability had its onset before reaching 26 years of age. Annual total contributions made on behalf of any individual are limited to $14,000 at present.  ABLE accounts are to be ad...

People with limited resources who need long-term skilled nursing care may have to rely upon Medicaid to pay for this expense.  To help recover the cost of these government services, every state must have a recovery program.  In Texas, the program is the Medicaid Estate Recovery Program, or "MERP", which gives the state the right to ask for money back from the estate of a Medicaid recipient after his or her death.   Quite often, the largest asset in the estate of a Medicaid recipient is a homestead.  Fortunately, in Texas there are methods to protect the home from Medicaid recovery.  Through the use of special deeds conveying the house on death (such as Ladybird Deeds or Transfer on Death Deeds), homes can be protected even after the death of a Medicaid recipient.  If you or a loved one are facing a situation in which you have to rely upon Medicaid to help pay for long-term care, consider all the options available to you in protecting your home and other...

This is often a difficult question for someone preparing their will.  It may be helpful to understand what an executor does in order to make the best decision.  An executor, simply put, will be responsible for handling your affairs after you pass away.  Some typical duties include: Probating your will.  This includes hiring an attorney to handle the court filings and attending a hearing at the courthouse.  Gathering up your assets.  This usually just means finding out what you owned and changing the name of the owner from you to your estate. Paying your debts.  If you have outstanding balances on credit cards or other debts, they will most likely be dealing with debt collection agencies.  If you owed any taxes at the time of your death, the executor must also deal with the taxing agency. Closing your estate by distributing your assets to the beneficiaries you have named in yo...

Many folks are interested in forming revocable living trusts as a part of their estate plan, and many others are interested in selling revocable living trust kits.  Here’s what you should consider if you are wondering if this estate planning tool is right for you: Where do you live ?  One of the highlights of revocable living trusts is they are designed to avoid probate.  If you live in Texas, the probate process is relatively simple, allowing for an independent administration of assets which typically only requires one short court visit.  In states like this, forming and administering a revocable living trust would generally be more of a hassle (and often more costly) than the probate process itself.  If you live in a state that only has dependent administrations, a revocable living trust may be more beneficial to you. What types of assets do you have ?  Some assets can be titled in such a manner that...