Prepare for the Future & Protect Your Loved Ones
Almost 70% of Americans age 65 now will need some type of long-term care in the future. If you have not planned for how you will live as you age, you could end up disabled and exploited. The laws in our state can make it confusing to draw up do-it-yourself plans that work. Online wills and estate plans often lead to emotional family discord and even court battles.
We create the legal frameworks that allow you to save the most money and make the best decisions for yourself and your family as you age. We also prepare deeds, living trusts, caregiver agreements, family LLC’s, asset protection trusts, special needs trusts, Medicaid trusts, and more. From Medicaid planning, long-term care plans, and avoiding Medicaid Recovery expenses to leaving more assets to your heirs and making advanced directives, we’ve got you covered.
SOME OF THE ESSENTIAL LEGAL DOCUMENTS TO PLAN FOR YOUR FUTURE PEACE OF MIND INCLUDE:
Last Will and Testament:
A Will outlines how you would like to distribute your assets and who you would like to care for any children.
If you don’t make a will, the state decides how to distribute everything you own. A will can also lower probate and administrative costs to your estate.
Durable General Power of Attorney:
Preparing this legal document allows you to choose who will make decisions for you if you become incapable of making your own decisions. It also prevents a need for future guardianship hearings.
Healthcare Power of Attorney:
This person makes medical decisions for you if you become incapacitated or incompetent. You decide about your future healthcare.
Advance Directives (Living Will):
This legal document allows you to decide about future specific medical treatments. You choose whether respirators, dialysis, feeding tubes and other interventions are acceptable for your care. You can also include a DNR (do not resuscitate order). Your Advance Directive guides your Healthcare Power of Attorney as they make other difficult decisions for you.
Your Plans Are Important
You may not realize that how your plan affects your healthcare, lifestyle, and ability to make your own choices as you age. Many of us want to age in place and make our own decisions. This is possible for some, but the majority of us need to plan for the day that we can no longer make our own decisions.
Drawing up advanced directives and power of attorney documents can help you age in place longer with your loved ones. With well-crafted legal documents, you choose who will help you make difficult decisions as you age. Without these documents in place, you can find yourself in a guardianship dispute. Your loved ones may argue over who will care for you.
Your decisions about your healthcare are important for your future level of care. Choose what types of medical treatments that you find acceptable. Decide how you want to be treated if you should lose your ability to make decisions for yourself. Your life hangs in the balance.
Your Finances Matter
Keeping your finances safe from state recovery programs and long-term care costs can make all the difference for your heirs. At Cape Fear Law, we work within North Carolina estate planning laws to bolster your financial bottom line.
Don’t let your family home, hard-earned retirement savings, and current retirement income go toward throwaway costs. Medicaid spend downs, long-term care facilities, and Medicaid recovery costs programs can eat into your estate assets. However, using a combination of payable on death accounts and trusts, you can keep your nest egg for your family instead of letting the state bleed you dry in probate court.
Meet with us to discuss your next steps. Find out how we can help you save money and live better as you age. Protect your finances and your own freedom to choose how you live your life.