Congratulations on your move and welcome to our beautiful state! While enjoying the barbecue, touring scenic golf courses, or heading to the annual North Carolina Pickle Festival, don’t forget to spend some time updating your legal documents.
While trusts and wills may not be as exciting as taking in the local sights, they are just as important to your time in North Carolina. By working with an experienced asset protection attorney, you can more effectively keep your money, real estate, and assets where you want them no matter what life throws your way.
Why You Should Update Your Estate Plan After Moving
Because of potentially major differences in state law, your previous estate plan may not be legally enforceable in North Carolina. While specific laws can vary wildly depending on where you moved from, the biggest potential differences to keep in mind involve Medicaid. Although Medicaid is a nationwide program, there are still variations in eligibility groups and waivers between states.
After getting situated in your new home, you should make a point to bring your existing plan to an attorney who understands North Carolina-specific laws. We can help ensure your estate planning goals are consistent with state law while maintaining Medicaid eligibility for a future nursing home stay.
Even if you’ve previously given gifts that may impact your Medicaid eligibility due to the five-year look-back period, we may still be able to help by changing the nature of assets from countable to non-countable.
While updating your plan, we can further discuss your:
- Asset protection goals
- Intended beneficiaries
- Retirement plans
- Strategies to avoid probate
Our Wilmington Asset Protection Attorneys Will Work Hard for You
If you want to protect your assets from going to the nursing home or to the government when you are incapacitated or pass away, an estate plan is critical to establish as early as possible. Use our online contact form to request a consultation. We can update your existing plans after you move, and keep them updated over the years to make sure your wishes are honored.