Worried About Long-Term Care? Learn How Elder Law Can Protect Your Assets

Long-term care can quickly drain a lifetime of savings.

In North Carolina, skilled nursing home costs can exceed $12,000 a month. Medicare will cover short-term care in a skilled nursing facility or rehabilitation center, but not extended stays, leaving families to pay for those expenses out of pocket.

To qualify for Medicaid, your countable assets must be under $2,000 if you are single or $3,000 for married couples, making early planning essential.

What Elder Law Can Do for You

At Trusts and Estates Law Group, we’ve helped people across North Carolina understand how the system works and how to make smart choices early—long before any crisis arises.

You don’t need to wait until you or someone you love is in a facility to start thinking about these things. And you don’t need to spend everything you’ve saved to qualify for help.

Some Tools That Can Make a Big Difference

Here are a few things to think about that can help you protect your assets:

• Irrevocable trusts allow you to move certain assets out of your name, so they aren’t counted toward Medicaid. But the clock starts ticking five years before you apply, so waiting too long could cause problems.  It is important to consider that when you create this type of trust, you lose control over the assets place in the trust.
• Certain assets are excluded—including your primary home (up to a cap), one car, personal items, and some prepaid expenses.
• Estate Recovery: While your primary residence does not count towards the resource limit, Medicaid can recover against it after you pass away, up to the amount paid for your care.  There are certain strategies to protect your home that will prevent estate recovery.
• Spousal protections help ensure the well spouse isn’t left without enough income or resources. I there is a spouse able to remain at home, he/she will be able to keep more than the $3,000 limit explained above.
• Other tools like Medicaid-compliant annuities or long-term care insurance can also help protect what you’ve worked so hard to build.

Why Advance Planning Matters

When families take the time to plan ahead, they gain more than just financial protection, they get peace of mind. They know their savings won’t disappear overnight, their home won’t be lost, and their loved ones won’t be left scrambling to make difficult choices under pressure. It’s not just about eligibility, it’s about control, comfort, and clarity in the face of something none of us can predict.

Ready to Take the Next Step?

You’ve worked hard. Let’s make sure it lasts.

Call us at 919-782-3500 or online to schedule a consultation.

There’s real peace in knowing you’ve taken care of tomorrow—today.