Need to get started today? (336) 378-1122

(336) 378-1122

Need to Get Started Today?

Medicaid Planning

North Carolina Elder Law Attorney: Medicaid Planning with Annuities

March 28, 2019

The prospect of your spouse entering a nursing home for long-term care can be overwhelming, especially with all of the logistical issues and care coordination concerns that accompany such a move. Financial planning for Medicaid eligibility can add more stress since there are strict asset and income limits that must be adhered to by both…

Read More

Division of Assets in North Carolina

July 11, 2015

For married couples with one spouse in a North Carolina nursing home, division of assets is an important concept to protect the spouse at home. Under Medicaid law as first enacted, both spouses needed to be impoverished in order for one spouse to qualify for care. However, Congress eventually reconsidered this, since the spouse at…

Read More

Medicaid and Trusts

November 21, 2014

To plan for Medicaid but not give up control, you may want to use trusts for Medicaid planning

Read More

Medicaid’s Asset Transfer Rules

November 20, 2014

Medicaid penalizes applicants who recently transferred assets by gift. That’s because Congress does not want you to move into a nursing home on Monday, give all your money to your children (or someone else) on Tuesday, and qualify for Medicaid on Wednesday. So there are strict rules about transferring assets without receiving fair value in…

Read More

Should I give my home to my child?

November 14, 2014

Gifting a home to a child can protect assets from Medicaid. However, gifting the home to a child is often a bad idea. Even presuming that your child has a great relationship with you and is financially secure with no worries about his or her marriage, there are tax reasons not to make the gift. Gift…

Read More

The Right Time to do Medicaid Planning

October 19, 2014

Many people ask, “When is the Right Time to Do Medicaid Planning?” Our office receives many calls from concerned loved ones and family members wondering if or when they should start Medicaid planning.  The answer:  It is never too early or too late to discuss the planning options available.  Below are just two examples of…

Read More

Can Financial Gifts to Children Protect Your Assets From Medicaid?

October 19, 2014

After her 73-year-old husband, Harold, suffers a paralyzing stroke, Mildred and her daughter, Joan, come to you. Dark circles have formed under Mildred’s eyes. Her hair is disheveled. Joan holds her hand. “The doctor says Harold needs long-term care in a nursing home,” Mildred says. “I have some money in savings, but not enough. I…

Read More

Stay up to date with elder law news

Sign up to receive The Elderlaw Firm Newsletter