528 College Road
We have a lot of experience working with Elder Law Attorneys since one of our Financial Planners, Cheryl David, is an Estate Planning and Elder Law Attorney.
We work directly with and are in the same building as the lawyers at Law Offices of Cheryl David, Estate and Elder Law Center. Working with the attorneys, we legally position your assets to mitigate the loss of your estate to Nursing Home Care.
We evaluate each asset, including your real estate, retirement accounts, insurance, brokerage accounts and checking and savings accounts, to assist you in protecting assets. We also work on budgets and manage your assets to preserve them, to the extent possible, for your family members after you pass away.
Without our assistance, the law in North Carolina only allows the sick individual to retain $2000 of cash assets. Many people believe that they may keep their home if they’re ill and need benefits, but they are unaware that a lien is placed on the home and this asset is sold and benefits are paid back at your death. With married couples the sick spouse may still only retain $2000, but the other spouse, known as the well spouse or the community spouse, must contribute to the sick spouse’s care and may keep only ½ of the estate, up to $137,400 in 2022, and their social security and pension.
We work with our clients’ lawyers and families to assist them, to the extent legally possible, in preserving their assets through individually tailored strategies and financial tools.
If you or a family member have this concern, please contact us to see how we may be able to help.