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Elder Law and Medicaid Planning

Elder Law Attorney in Cary, NC

Cary, NC Elder Law Attorney

Long-Term Care Planning and Asset Protection

Many people plan sufficiently for retirement, but fail to take into account the possibility of becoming disabled through an accident, illness, or progressive condition. Many individuals who become disabled and require skilled nursing care cannot afford to pay for such services with their own funds – there just isn’t enough to cover everything. This process can be scary.

  • How much will long-term care cost?
  • What resources are available to me?
  • How will I pay for my care?
  • Will my kids be stuck paying my nursing home bills?
  • What planning can I do now to protect myself and my family?

NC Planning can help answer these questions and put a plan in place that will give you and your family peace of mind.

We can develop a personalized strategy tailored to you to minimize your “out of pocket” expenses and maximize your savings and inheritance to your family.

Medicaid Long-Term Care Assistance in North Carolina

Navigating the process of applying for Medicaid benefits can be intimidating. Our lawyers can help to analyze your potential for eligibility and put a plan in place to get your skilled nursing care taken care of.

Medicaid is a means-tested benefit program that is directed by the Federal Government and administered at the State level. Because of this, there can be specific rules that must be followed in North Carolina that do not apply to other states. The program, overall, is meant for the disabled and impoverished.

One way to meet the “impoverished” definition is for an individual to “spend down” their assets to get below $2,000 in countable resources. Our goal is to start the planning well before assistance is needed and instead of having “spend down” as your only option.

Planning as early as possible is important and the difference in personal costs can be significant – sometimes hundreds of thousands of dollars. Our Cary, NC Medicaid Planning Lawyers can help you and your family.

At NC Planning, we will perform a detailed analysis of your financial condition and asset composition while determining your current and future level of care.

Protect Your Home from Nursing Homes and Creditors

Medicaid eligibility rules allow you to keep your personal residence, but after you’re gone, your family may be forced to sell the house and pay the proceeds to the Government. Our lawyers can put a plan in place to protect your house and your Medicaid eligibility. Planning more than 5 years before Medicaid assistance is needed can save your home from “State Medicaid Recovery” and can avoid transfer penalties. If you’re in need of assistance now, and cannot wait 5 years, there are strategies we can use to save as many assets as possible for your surviving spouse or children.

Our Most Recent Articles

Tax Reform 2017: What Can We Expect?

Tax Reform 2017: What Can We Expect?

How Will Estate Planning and Business Be Impacted by Tax Reform? While there hasn’t been a bill that has passed...

What Happens if a Spouse Dies Without a Will in NC?

What Happens if a Spouse Dies Without a Will in NC?

Spouse Dies Without a Will in NC – What Now? A common question we receive is “what happens if a...

Medicaid Long Term Care: Exempt Transfers

Medicaid Long Term Care: Exempt Transfers

Under Medicaid regulations, there are several types of Exempt Transfers which will not be penalized if made by the applicant prior to applying.

Applying for Medicaid Too Late or Too Early

Applying for Medicaid Too Late or Too Early

The timing when an individual, or their "authorized representative", apply for Medicaid is extremely important. Applying too early or too late can result in significant unintended consequences.

Medicare and Nursing Home Care in North Carolina

Medicare and Nursing Home Care in North Carolina

It would make sense that Medicare should pay for nursing home care. Well, when it comes to long-term care in a nursing home, Medicare just doesn't cover it - at least not all of it. 

Medicaid Long-Term Care Eligibility and Your Home

Medicaid Long-Term Care Eligibility and Your Home

The Medicaid application in North Carolina can be a tricky minefield for people experiencing it for the first time. Disability, income, assets - all with different standards and different ramifications on your (or your loved one's) eligibility. And while not all assets are treated equally, how you respond to a certain eight word question can have a very significant impact on Medicaid eligibility and future medical treatment.

What is the Difference Between Medicaid and Medicare?

What is the Difference Between Medicaid and Medicare?

Cary, NC Elder Law Attorney Both are federal programs, both are administered at the federal level by the Center for...

Medicaid Asset Protection Trusts in North Carolina

Medicaid Asset Protection Trusts in North Carolina

If used properly, Medicaid Asset Protection Trusts can help Medicaid applicants keep their home a non-countable asset, but also remove the home from their estate and potential Medicaid Estate Recovery.

Medicaid Spend Down Planning in North Carolina

Medicaid Spend Down Planning in North Carolina

Many people think "Spend Down" means "spend all of the money" - but Spend Down planning actually involves converting assets, not necessarily wasting them. 

Special Needs Planning: What it is, Who it’s for, and Why it’s Important

Special Needs Planning: What it is, Who it’s for, and Why it’s Important

Since October is Special Needs Planning Month, I figured today we would talk about Special Needs Planning, what it really is, who it applies to, what’s the family should think about it seriously and implement planning for themselves.

Five Legal Hurdles North Carolina Small Business Owners Will Face, and How to Handle Them

Five Legal Hurdles North Carolina Small Business Owners Will Face, and How to Handle Them

Small business owners will encounter a number of obstacles, but pro-active planning can help.

Estate Tax Exemption for Estates in North Carolina – 2018 Update

Estate Tax Exemption for Estates in North Carolina – 2018 Update

Another year, another rise in the unified lifetime estate and gift tax exemption. 

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