Estate tax planning got much more straight forward over the last decade since the federal estate tax exemptions increased so significantly that most families won’t ever have an estate tax planning need. The focus shifted more towards streamlining succession or creating asset protecting plans for the support of beneficiaries who may need it. But there’s a segment of the population who…

A common question that we receive from clients is: “How do the Financial Agent, Executor, and Trustee work together and what does each control?” Each of these roles have very specific scopes and may cover very different wishes and assets, so it’s important to break down each role individually to understand how they work together to carry out your wishes…

Medicaid Long Term Care Lawyer in Cary, NC 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. Applying Too Late Applying for Medicaid too late – assuming the individual is otherwise eligible – can result in the lost opportunity to have the…

Elder Law Attorney in Cary, NC Generally speaking, gifts made by an individual for the purpose of becoming Medicaid-eligible in the five (5) years preceding their application for Medicaid will be penalized at a rate of one (1) month for every $6,400 in value gifted. However, that rule does not apply to all types of gifts. Under Medicaid regulations, there…

Medicaid Planning Lawyer in Cary, NC 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…