Elder Law
FUTURE CARE PLANNING SUPPORT
At The Mayo Law Firm, we provide comprehensive legal aid for clients who need help planning for their own future care or the care of a loved one.
Our elder care lawyers can help you avoid catastrophic costs if you, your spouse or loved one needs long-term care. Here are some of the things that we can help you with:
Elder Law can be defined as the holistic application of general legal principles to the specific emotional, logistical and financial needs of mature Americans. Many of these Americans are concerned with two fundamental threats to their dignity:
(1) becoming incapacitated, and thereby losing control to the court system over their personal, health care and financial decisions; and
(2) running out of money due to the catastrophic costs of long-term care.
Fortunately, these threats may be minimized, or even avoided, through properly coordinated legal and financial planning.
Whether it is advance or in response to an unanticipated need for long-term care, The Mayo Law Firm can help protect your estate with careful planning. Our lawyers are well-versed in the laws surrounding Medicaid. We can help you plan ahead and properly distribute your assets to ensure that you qualify for these benefits sooner rather than later.
Maintain control and protect your assets from unnecessary taxes, lawsuits and other costs associated with long-term care by utilizing the estate planning services of The Mayo Law Firm. Depending on your needs, our experts can help set up both revocable and irrevocable trusts.
What is a Revocable Trust?
This type of trust allows the grantor to remain in complete control over their assets. A revocable trust can be amended or revoked at will by the grantor and is included in estate taxes.
What is an Irrevocable Trust?
Unlike the trust above, an irrevocable trust can not be altered or terminated without the permission of the beneficiary. In this type of trust, the grantor effectively renounces all ownership to the assets and the trust.
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