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At Brady Cobin Law Group, PLLC, we understand that the decision to move into assisted living is a significant one. It often involves emotional considerations, financial implications, and most importantly, the wellbeing of a loved one. Fortunately, North Carolina offers a range of affordable assisted living options that ensure quality care without breaking the bank.…

When it comes to estate planning, one crucial step often overlooked is trust funding. Trust funding involves transferring your assets to your living trust and updating beneficiary designations on various accounts, such as life insurance or retirement accounts. This process is essential for the success of a trust-based estate plan, especially when it comes to…

Opting to gift your assets to your beneficiaries during your lifetime can appear as an effortless way to sidestep probate. However, the process of gifting involves certain complications. The Timing Challenge of Gifting Gifting to avoid probate presents two main dilemmas: Too Much Too Soon: If you gift too much of your property too early,…

Many North Carolina residents ask us, “If I sell my house, will Medicaid know about it?” The answer is yes.  In North Carolina, Medicaid programs must follow federal guidelines, but they vary greatly from state to state. When you apply for Medicaid, the program considers your income and assets to determine eligibility. Medicaid has strict…

Estate planning often involves seeking strategies to streamline the transfer of assets after death and avoid probate—a typically lengthy and complex legal process. One such strategy that’s become popular due to its relative simplicity is the use of Transferable on Death (TOD) and Payable on Death (POD) properties. Let’s delve into this approach and understand…

Assets like life insurance, annuities, and qualified retirement plans (e.g., IRA, 401k, 403b, etc.) are a critical component of many people’s estate plans. At the owner’s death, these assets often transfer directly to beneficiaries as stated in the asset contract, bypassing the probate process. Since these transfers are governed by the contract, there is no…

Nursing home care is expensive, and many Americans deplete their savings in a matter of just a few years of long-term care. But what is the nursing home cost per month in North Carolina? Our lawyers at Brady Cobin Law Group can help you plan to pay for nursing home care in North Carolina. Call…

Have you ever wondered how to make the complex process of probate easier to manage, or even avoidable altogether? One commonly used strategy is jointly property. This article explores one type of joint ownership which automatically passes ownership to the surviving owner: Joint Tenants with Rights of Survivorship (JTWROS). The Double-edged Sword of Joint Property…

If your spouse needs to go into a nursing home, it can bring some relief to know that Medicaid can help pay for their care. But Medicaid has strict requirements, and your spouse can only keep $2,000 worth of assets to be eligible. Below, learn how to protect assets if your spouse goes into a…

Research shows that around 70% of Americans over 65 require long-term care at some point in their lives. Unfortunately, the cost of nursing home care can be steep if you are not eligible for Medicaid benefits. Read on to learn what qualifies a person for a nursing home in North Carolina and find out whether…