ELDER LAW

Elder Law is an area of practice that includes advocating for Seniors and their family members. It encompasses preservation of one’s dignity, protecting their assets, and making sure you or your loved one gets the Long Term Care you need in the event that you require it. There are a multitude of important facets to creating an effective elder plan that is right for your family. Every family’s situation is unique and different in its own way. The Law Offices of Lawrence Cohen will make certain that your Last Will and Testament or Trust follows your specific wishes and provides critical protection for your family.

No one likes to think about illness, disability or death, but they are unavoidable parts of growing old. Your loved ones will be saved from trouble and grief by planning now for inevitable life events. Comprehensive Estate Planning includes protection and preservation of assets – and a person’s dignity. A comprehensive Estate Plan can have many components, however there a few basic essentials that every estate plan must include. Every Estate Plan must include Advance Directives which will allow you to select the person who will make healthcare and financial decisions for you in the event that you are unable to do so for yourself due to incapacity. Your Advance Directive documents will include a Healthcare Proxy, Living Will and a Durable Power of Attorney.

To accomplish the goal of avoiding the high cost, extensive delay, and the lack of privacy caused by Probate, a Trust is the most sought after estate planning tool. Although Trusts have more upfront costs over a traditional Will, a Trust has many benefits, which include asset protection, tax reduction, probate avoidance and cost savings. A Revocable Living Trust is a complete Will substitute and allows you to entirely maintain control over your assets, with the freedom to change the terms at any time during your lifetime. A big benefit is the designation of a backup Trustee, who will have the ability to seamlessly step in and manage your assets and provide for your needs if you become incapacitated or disabled. Unlike a Will, a Revocable Living Trust provides continuity in the management of your affairs after your death, and your assets will go directly to your beneficiaries without delay and with complete privacy, no court costs, and significantly reduced attorney fees.