The best time to plan to preserve your assets, make life easier for your family, and avoid the possibility of devastating health care costs in retirement is while you’re healthy. Organizing and protecting your assets is crucial to your future security, and is one of the best things you can do for your spouse, your children…and yourself. . Some of the estate planning services we offer in Greensboro, NC include:
- Setting up a trust to protect your estate or assets
- Create a legal last-will-and-testament
- Outlining how to manage or distribute estate assets
- Avoiding probate and its associated costs and headache
- Determining whether beneficiaries have to pay estate tax
And so much more
Need Help with Estate Planning?
If you’re ready to get started, get in touch. And we can’t wait to meet you.
The Elderlaw Firm provides much more than just traditional will, living trust, and routine power of attorney services. Our elder law estate planning services cater to the residents and families of Greensboro, NC and the surrounding areas. For all things estate planning, we help you make the most informed decisions about your future as possible. Our goal is to help you save money and pay the least amount of taxes on the property that you worked your entire life to build.
We specialize in estate planning and estate administration matters such as wills, trusts, probate administration, and even Veterans Aid. The estate planning services offered by The Elderlaw Firm encompass planning for intergenerational wealth transfer to help spouses, children, and grandchildren avoid the complex probate process. Consult with an experienced estate planning attorney to assist you in setting up and managing your future to protect yourself and loved ones.
The Elderlaw Firm: Estate Planning Services
Planning for Incapacity
Sudden catastrophic events like strokes, accidents, disabling injuries, and diseases may have the unfortunate result of leaving you mentally incapacitated. Other diseases such as Alzheimer’s or Parkinson’s can rob families and spouses of the ability to make crucial decisions. As we get older, we’re able to enjoy so much of life, but some of us also face disruption due to disastrous, unexpected events.
By having the right powers of attorney in place, navigating health care and financial matters is easier for your family and spouse. Preserve familial harmony by designating powers of attorney carefully and thoughtfully, while you’re still mentally sound and able. Designating powers of attorney is much more involved than simply a few forms. It’s important to talk with an experienced attorney specializing in elder law who can make certain someone (such as a spouse, offspring, or other trusted agent) can act on your behalf. We can help you give someone you trust a durable power of attorney to manage the estate, financial, and other responsibilities. Our attorneys have a long history of providing trust and estate planning services in Greensboro, North Carolina, and we’re ready to help you get started.
Planning for Inheritance
There are two types of inheritance plans. Will-based inheritances and trust-based inheritances will outline how property is transferred from one person to another after passing. Determining which is right for you will depend on your unique situation, your family circumstance, and how you’d like your assets to be divided. Be cautious of elder law attorneys who insist each individual requires a living trust, because it may not be necessary. Although a trust-based inheritance plan can speed administration processes up while keeping private affairs confidential and reducing court costs, they simply aren’t for everyone.
To figure out which plan is right for you and your family, discuss inheritances and other estate planning services with an attorney from The Elderlaw Firm. Our attorneys ensure your estate is distributed among the designated heirs to benefit from your assets, according to your wishes. If you’re interested in avoiding the long and expensive probate process to transfer property to heirs, contact us today. We can work with you to plan appropriately, giving you the peace of mind knowing that your assets will be distributed properly after death. Learn how to prepare and file probate and estate planning matters with an experienced attorney at your side.
Planning for Health Care
Planning for health care often involves a combination of legal and financial strategies. Legally, there are particular types of irrevocable trusts that can speed up the eligibility process for government assistance such as Veterans Aid and Attendance, along with nursing home Medicaid.
We can help you to construct a financial strategy that will protect you and your family from the devastating costs of major health or long-term care. If you are healthy enough, we can help to obtain insurance contracts and design a plan that will also leverage a portion of your investments or IRA. This strategy can pay for health care costs while still leaving a tidy inheritance to your family.. Discussing these options with a certified and experienced lawyer can help you outline the right strategy for your needs.
The Elderlaw Firm Difference
Creating an estate plan is critical for your peace of mind and the future of your loved ones. Our estate planning services are designed to protect families and plan accordingly in the event of sudden incapacitation or death. We’re conveniently located in Greensboro, North Carolina and have helped countless families and individuals plan for their future goals.
Consult With An Experienced Estate Planning Lawyer Today
Our estate planning services include wills and trusts to distribute your assets and maintain familial balance after your passing. Avoid putting your family through the stress and headache of the probate process or financial disputes by developing a quality estate plan with The Elderlaw Firm today. We can help you understand estate planning services which include long-term care insurance or government benefits that you, your beneficiaries or surviving spouse are entitled to.
We address inheritance plans, powers of attorney, health care and Medicaid planning, guardianships, and more. It’s in your best interest to contact the law offices of The Elderlaw Firm for quality legal advice. From initial preparation and drafting of estate planning documents like wills to wealth protection planning, we have you covered. The estate planning attorneys with The Elderlaw Firm are prepared to navigate your familial and financial future with you, each step of the way.
Here are some suggestions for your elder law estate planning
Planning for incapacity
What if you (or your spouse) is healthy one day and has a stroke the next? What if you have an accident or some other disabling injury or disease that leaves you alive but mentally incapacitated? Or what if you don’t face a sudden event, but Alzheimer’s, Parkinson’s or some other disabling disease robs you or or your spouse of the ability to make decisions? That’s where having the right powers of attorney can make all the difference. With powers of attorney already set, navigating health care and financial matters while preserving family harmony can be simple. Designating powers of attorney is a lot more involved than simply filling out some forms. You’ll need to talk with an experienced elder law attorney who can make certain someone (your spouse, child or other trusted agent) can act for you if you can’t act yourself.
Planning for inheritance
This answers the question of what happens if you die. It really deals with how property transfers from one person to another after death. There are two types of inheritance plans: will-based and trust-based. Which is right for you? It depends. Don’t listen to a lawyer who insists that everyone needs a living trust; not everyone does. A trust-based plan can speed administration and avoid court costs, and keep a person’s affairs more confidential. You’ll find lots of information on this site to help you have a conversation with your elder and estate planning attorney about which type of plan would be right for you.
Planning for health care
Planning for health care often involves a combination of legal and financial strategies. On the legal side of things, there are particular types of irrevocable trusts that can speed up the eligibility process for government assistance such as Veterans Aid and Attendance, and nursing home Medicaid. Financial strategies will depend more upon being healthy enough to obtain insurance contracts that will leverage a portion of your investments or IRA, and allow you to pay for health care costs if they arise while leaving a tidy inheritance to your family if you never need long-term care. Discussing these options with a certified and experienced lawyer can help you quarterback the right strategy for your needs. Of course, gathering more information through our resource center is a great way to jumpstart the process!