Elder Law Attorney in Cary, NC
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.