What is Medicaid Planning?

Medicaid planning

If you’re new here, you may want to subscribe to my RSS feed. Alternatively, you may sign up for email updates in the box to the right. Thanks for visiting!A frequent misconception about Medicaid is that it is only for poor people. In reality, Medicaid is a government-run social program that is used to help people pay for nursing home expenses. However, to qualify for Medicaid, you must meet certain income and asset thresholds. An elder law attorney can help people to position their assets and income such that when they apply for Medicaid, they will be approved for benefits […]

What is the Gift Tax in NC?

Gift tax in NC

You came to this page looking for information on the gift tax in NC, and more specifically, you probably want to know some answers to the following questions: What is the Gift Tax in NC? How much money can you gift away without having to pay a gift tax? How much money or property can you give away during your lifetime? So let’s dig in and start with some of the basics… What is the Gift Tax in North Carolina? At its basic level, the gift tax in NC is a tax on the transfer of assets from one person […]

Do You Need a Probate Attorney in North Carolina?

North Carolina Probate Attorney

If you have been named as the executor or administrator of an estate in North Carolina, you may or may not need a Probate Attorney to assist you with the process. This article is intended to help you understand the basics of probate in North Carolina and decide whether you will need to hire a probate lawyer to help you. What is Probate? Probate is the legal process in North Carolina where the probate court qualifies an individual (the executor or estate administrator) to wrap up the final financial affairs of someone who has died (We typically call this person […]

What Happens If You Die Without an Estate Plan?

Die Without an Estate Plan

Everybody has an estate plan. Even if you don’t think you have an estate plan, that is a plan in and of itself. And if you die without a will in the State of North Carolina, a statutory scheme has been developed for you to divide up your assets in a way that you may or may not approve of. When this happens, you are said to have died “intestate” or “without a will”. Before we get into the details of how your property would be divided if you died without a will in place, a bit of background is […]

Going to the Beach this Summer? Watch Your Kids

going to the beach this summer

Last week my family and I drove down to the coast to celebrate my son’s 7th birthday at Carolina Beach. We had a great trip, but not without some excitement. On Saturday afternoon, the waves were high and the tides were strong as a result of storms in the area. While our kids were busy building sand castles, every parent’s worst nightmare was unfolding in what could have been an absolutely tragic afternoon. It all started while Charlie (my son) and I were playing in the water and I heard some commotion down the beach. About 50 yards down from […]

What is Included With a Typical Estate Plan?

typical estate plan

If you talk to one of our clients about our estate planning services, you will find out a couple of things. First, our plans are extensive. We don’t just copy and paste your name into a pre-written package of 5 documents and call it a day. Second, you will find out that we are not the cheapest estate planning lawyer in town. But as you can see from reading below, there is a reason that we charge a premium rate – our service greatly exceeds that of other firms. What Sets Us Apart from other Estate Planning Firms? Our plans […]

What the Cavs Game 3 Loss Can Teach Us about Estate Planning

What the Cavs Game 3 Loss Can Teach Us about Estate Planning

For those of you that don’t know, I’m a huge Cleveland sports fan. Although I was born in the Carolinas, I was raised in Cleveland (Chagrin Falls to be exact), and have been a huge fan of the Cavs, Browns, and Indians for as long as I can remember. You could call me a glutton for punishment. Yes, the Cavs won the NBA Championship last year, but as time goes on, it is starting to feel more and more like a blip on the screen of Cleveland sports. Which brings me to the topic of today’s post – the Cavs […]

Estate Planning for the Sandwich Generation… What You Need to Know

Estate Planning for the Sandwich Generation... What You Need to Know

How do you know if you are part of the current sandwich generation? If you are like me, you are a member of “Generation X”, a demographic grouping of people who were born somewhere between the mid-60’s and the early 80’s. Do the math and you should be in your 30’s or 40’s right now. What is unique about this age range? For starters, it makes you part of the current “sandwich generation”. In other words, you are old enough to have young children that you must care for, but still young enough to have aging parents that may also […]

Estate Planning Basics: Coordinating Beneficiary Designations

beneficiary designations

Here is a fairly typical scenario that I see all too frequently. A happily married couple, Fred and Susan, have put together a basic estate plan for themselves but have failed to coordinate their beneficiary designations. They have what are commonly referred to as “sweetheart wills”. Fred has a will that leaves all of his assets to Susan, and Susan has left all of her assets to Fred. Here is a list of the assets that they each have: Fred’s Assets $200,000 of equity in the marital home (½ of a Tenancy by the Entirety with Susan) $25,000 in a […]

A Day of Remembrance

Memorial Day

I don’t normally write on Mondays, and I don’t normally share the contents of my weekly newsletter publicly. I suppose today I am making a couple of exceptions. Today is a special day. Today is a day when we remember those who fought for our country but are no longer with us. In this week’s edition of my e-newsletter, I took a minute to reflect on what this day means, and how we should interact with Veterans today. Things we should say and things we shouldn’t. What this day is all about, and what this day is not about. Here […]