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.
In addition, there are several planning strategies and legal documents that are essential for Elder Planning clients, such as: Durable Power of Attorney, Healthcare Care Proxy, Living Will, and a Medicaid Asset Protection Trust. A Medicaid Asset Protection Trust has several benefits, such as: a) Placing your primary residence in trust while allowing you to enjoy it and maintain the exclusive right to occupy it; b) Qualifying for Medicaid benefits to pay for long term care; c) Continuation of tax benefits such as elimination of capital gains taxes and avoidance of gift taxes; d) Avoiding probate; e) the ability to change beneficiaries; f) the ability to keep real estate exemptions; and g) the ongoing ability to sell the trust owned home and buy a replacement.
Schedule a meeting with Lawrence Cohen and allow him to be a resource and caring advisor to you through the process.