A tie? Pajamas? Give a gift that keeps on giving for generations. Give the gift of planning with McIntyre Elder Law. Call: 704-259-7040 or online at: mcelderlaw.com/holidays.
It’s that time of year again. Time for our family of clients to schedule their free annual reviews. If there has been a change in your family, and your life during the past year it is a great time to schedule your free annual review to ensure you were state plan still meet your needs. Call our office today to schedule: 704-749-9244 or online at: mcelderlaw.com.
IF YOU ARE A CLIENT:
I hope that this letter finds you well, and I want to tell you how much I value the trust you have placed in me as your attorney. As a service to you and my other valued clients, I offer a free review annually, not only to have the chance to visit and catch up with how you are doing, but also to review your estate plan and other documents in light of any possible changes. Such changes can occur because of a change in your situation or at the whim of a well-intended legislator, but with just a few minutes in my office, we can insure that everything is in place in accordance with your needs and wishes. Below is a short list of some such occurrences which may create a need for minor – and, infrequently, major – changes to protect your home, other property and assets, and your hard-earned money:
|· Marriage||· Birth of Child|
|· Divorce||· Birth of a Grandchild|
|· Death of a Spouse or Family Member||· Child Becoming 21|
|· Purchase or Sale of a Home||· Change in Resources/Inheritance|
|· Purchase of Rental or Vacation Home||· Special Needs Child or Spouse|
|· Declining Health||· Aging|
Please call at your convenience, and we will set up a few minutes for you to either come to my office or, if you would prefer, meet in your home – or in a restaurant over a cup of coffee (I’ll buy). As always, whether or not you have any changes which affect your situation, there is no obligation for this meeting; it is totally free of charge to you, a valued client, and I look forward to hearing from you soon. You may reach me at my office at 704.749.9244.
Very Truly Yours,
Gregory S. McIntyre, JD, MBA
Attorney at Law
Elder Law Report: How to Protect the Things You are Thankful For: ALSO… Join us for our office Thanksgiving party!!!
Greg McIntyre: As I walk through the office, I’m smelling the turkey. Look at that. Bam. Bam. We’re having Thanksgiving dinner here at the office and it got me thinking today for the Elder Law Report that I wanted to talk about, a little bit about Thanksgiving, what we had to be thankful for. I’m going to film a little of our office Thanksgiving, too, so I’ll show you what we’re doing. People in there hard at work. Felicia. We’re going to have our whole office coming together today. And they’re going to be coming together … Hey, Brent.
Brenton: Hey. Oh, doing a video.
Greg McIntyre: Yeah.
Brenton: Looking good.
Greg McIntyre: I didn’t have it facing forward, I had it facing toward me.
Brenton: Oh, okay. Well, I waved and I guess you didn’t catch it.
Greg McIntyre: You know, Brent, what I was talking about today, here’s our cook. Our chef. My wife’s at home making stuffing by hand.
Sonya: Green bean casserole.
Greg McIntyre: That turkey I just showed you in the oven, Sonya who is literally … I mean, she’s a great cook.
Sonya: Thank you. I love it.
Greg McIntyre: And loves cooking. We’re all going to be together, our whole office.
Sonya: Whole office.
Greg McIntyre: We thought it was important to-
Sonya: I want everybody here.
Greg McIntyre: … shut down the Charlotte office literally today, come in to the Shelby office.
Sonya: And break bread together.
Greg McIntyre: And break bread together and be together. And that’s what families on Thanksgiving.
Brenton: It’s like a pilgrimage.
Sonya: It is.
Greg McIntyre: Yeah, a pilgrimage. We are making a pilgrimage-
Brenton: From Charlotte to Shelby.
Greg McIntyre: … all of us to be together today. This is, yes, Plymouth Rock.
Brenton: And we are the Indians.
Greg McIntyre: I guess the point that I was thinking about and the message that I was going to send is we could talk about legal planning on this episode. We could talk about lady bird deeds, help you save your home and pass it to the kids. We could talk about foundational work, general durable power of attorney, healthcare power of attorney, living will and will that if you don’t have in place could jeopardize you or your loved ones’ ability to save your home and other money or property if you become incompetent or incapacitated because of illness or injury. We could talk about trust that can help you protect your assets, maximize your taxable exemption, control money and property well after you’re gone. We could talk about those things. But what’s really important is the fact that we’re going to be together. And that presents an opportunity.
Sonya: It does.
Greg McIntyre: When families come together at Thanksgiving and around the holidays, they really have an opportunity to get together to talk, to discuss things. And sometimes it’s hard to talk to mom or dad.
Sonya: It’s the hard questions to ask.
Greg McIntyre: It’s hard. For me, it’s hard to think about stepping up and approaching my mom or my dad and saying, “Hey, look. I’m concerned about these things. We’re all getting older. We ain’t getting no younger, right?”
Sonya: Not yet.
Greg McIntyre: And what are your plans? Do you even have the basic things in place that if something happened to you that we would be able to take care of you and keep the band playing, keep the bills being paid, keep the accounts being managed? Do you have things in place to protect real estate, to protect your retirement? Those are tough conversations to have, but they need to be had.
Sonya: It’s questions that need to be asked.
Greg McIntyre: That’s right.
Sonya: And what more of an important time and availability to make that happen is when all of the family, especially extended family who may be out of town who are going to play a part in this decision making and help come to those decisions, so this is the perfect time to sit around the table, break bread with your family, and have those tough conversations.
Greg McIntyre: Literally sit around the Thanksgiving table and take time over the holidays. For me, I’m going to Savannah, Georgia because my family moved there in 2002 with my dad’s job. My four sisters are there. I’m going to take four days. I’ll probably leave Wednesday evening and I’ll be down there through Sunday.
Sonya: Awesome, awesome.
Greg McIntyre: And we’re just going to hang out together. There’s plenty of opportunities for me to go hit a golf ball with dad and talk to dad about it.
Sonya: Spend some time.
Brenton: And you know, speaking of hard conversations, I think that our clients if I had to guess are very thankful for the fact that we have hard conversations with them. Our consultations are real and that’s what we asked you to do and we employed you to do to sit down with your parents, with your loved ones, with your siblings and have those hard conversations, because what you get from that is peace of mind.
Greg McIntyre: We have those conversations every day. That’s a good point.
Brenton: Yeah. And vitamin G as Bob would say, that vitamin G, that gratefulness that you have afterwards of having that conversation and getting things in place and feeling like you have some structure there and not having to worry.
Greg McIntyre: And that’s the peace of mind, right?
Brenton: That’s right. That’s the peace of mind.
Sonya: You can’t put a price on that.
Brenton: No, you can’t.
Greg McIntyre: I mean, I have clients who call me and tell me that they literally stay up nights, they stay up nights worrying.
Brenton: Oh, man. Yeah.
Greg McIntyre: They stay up nights worrying.
Brenton: That gets me every time, too, because you don’t have to.
Greg McIntyre: Getting those planning elements in place can save you from that, can give you that peace of mind. So I would employ you …
Greg McIntyre: I would implore you. I employ you. Actually, I kind of feel like I work for her a lot of times, okay? This is our office manager. And my unsteady hand. Don’t let me drop you, okay? I employ you. This is not funny anymore.
Greg McIntyre: I implore you. Sit down at the table, at the Thanksgiving dinner table. When I’m taking a walk with dad or hitting a golf ball with dad or maybe get in the kitchen with mom and have a few of those tough conversations. Hey, as a conversation starter, some times I’ll show you what can help. This is a great help conversation starter. This is Saving the Farm, a book I wrote, a practical guide to the legal maze of aging in America. It talks about foundational planning, lady bird deeds, trust planning. We’d be glad, we’d love for you to have a copy. Call us to get a copy, 704-749-9244 or go to MDElderLaw.com/savingthefarm, okay? That’s a great conversation starter. Great gift and great bedside table book or coffee table book for mom or dad when they’re looking and thinking about how to make that planning happen and what to do.
I hope everyone out there has a Happy Thanksgiving. Please watch for a few minutes longer. I want to show you our great team and I want to show you what we’ve made for Thanksgiving dinner at our office, a little pre Thanksgiving so we can come to Plymouth Rock, right?
Brenton: That’s right.
Greg McIntyre: So we can come here to McEntire Elder Law to our home office and break bread together. So have a great weekend, have a great holiday. Bye.
Sonya: They got passed down and now it’s mine. That’s what they have, but instead of being that color it’s [crosstalk 00:07:08].
Greg McIntyre: This is the knife.
Sonya: That’s the knife.
Greg McIntyre: You could hack up a turkey with this thing.
Sonya: That’s what your daddy does. [crosstalk 00:07:14]
Greg McIntyre: This kind of smells when you run it.
Sonya: You don’t get no turkey. No turkey for you.
Greg McIntyre: No, I just mean the knife. You can smell-
Sonya: You can smell the love. They got passed down and now it’s mine. That’s what they have, but instead of being that color [crosstalk 00:07:32].
Greg McIntyre: This is the knife.
Sonya: That’s the knife.
Greg McIntyre: You could hack up a turkey with this thing.
Sonya: That’s what your daddy does. [crosstalk 00:07:40]
Greg McIntyre: This kind of smells when you run it.
Brenton: I was reading your name tags-
Greg McIntyre: Trick or treat, smell my feet. Give me something good to eat. Oh, wrong holiday.
Stefanie: Wrong holiday.
Greg McIntyre: You made all this, Stefanie?
Stefanie: I did. Sonya made the turkey and she made-
Greg McIntyre: Sonya made the turkey, you made all this. My wife and firm manager, Thanksgiving party. Thank you, Sonya.
Sonya: You’re welcome. Let’s eat.
Greg McIntyre: Thank you.
Stephanie: You’re welcome.
Greg McIntyre: Wife. Stephanie.
Taylor: Stephanie, I just want to let you know that I made it today. I wasn’t invited but I made it.
Greg McIntyre: Where’s everybody at?
Taylor: I wasn’t invited.
Stefanie: I’m sure that-
Greg McIntyre: Is this everybody? We didn’t get everybody here.
Stefanie: You were invited, it was just like unspoken.
Sonya: You just knew you were supposed to be here.
Brenton: [crosstalk 00:08:26]
Greg McIntyre: Unplug the phones.
Speaker 6: Jessica.
Jessica: Yes, ma’am?
Speaker 6: For guardianship, do I just message you and [crosstalk 00:08:42]-
Greg McIntyre: Where’s everybody else in the back?
Brenton: [crosstalk 00:08:42]
Greg McIntyre: I just filmed you doing that. Come on, eat. Woo.
Stefanie: And he won a truck. I won a door prize from [inaudible 00:08:57] Woodworking, but I got to go pick it up. I won it three weeks ago and I forgot to go get it.
Greg McIntyre: You’re fine.
Sonya: We need to be playing the Adam Sandler [crosstalk 00:09:08].
Greg McIntyre: Kelly, come eat. Ayana, come eat.
Kelly: I’m coming.
Speaker 9: Okay.
Greg McIntyre: It’s grub time. [crosstalk 00:09:20]
That’s not good. Okay. I got gravy. Who wants gravy?
Sonya: It’s all gravy, baby.
Greg McIntyre: Dude, man. Thanksgiving dinner is not complete without gravy. Who wants gravy? Anybody want gravy.
Sonya: I’ve got gravy.
Greg McIntyre: You don’t want gravy?
Brenton: All right. We’re going to have to get all close over the [inaudible 00:09:51].
Greg McIntyre: God, man. Freaking gravy averse. Hey guys. You want some gravy. I’ve got gravy.
Stefanie: You’ve got little pots-
Greg McIntyre: I’ve got a pot of gravy, Kelly.
Kelly: I don’t want no gravy.
Greg McIntyre: Eat your gravy. Stef, you want gravy?
Stefanie: You know, I don’t know yet. I’m going to see.
Greg McIntyre: Okay. Well, I’m going to put it on the stove.
Brenton talks about his career, tells us a little bit about himself, and why he practices elder law.
Hi, Brenton Begley with McIntyre Elder Law. And I wanted to jump on today and tell you why I chose elder law as a profession. You know, there’s lots of different types of law and I could’ve chose any one of those. I’ve actually done a few types of law, but elder law is my favorite one. Okay. And I decided to do this type of law because it makes me happy. Selfishly it really does make me happy. And the reason why it makes me happy is because I care about my clients that care about the law. And my clients really do care about the law. They want to know how to preserve their assets, they want to know how to protect their assets. They want to know how to make sure their children or their children’s children benefit from their hard earned money and assets.
And my clients do care about the law. When I say that, I mean it. And I love being able to educate them about the things that can help them preserve their assets and maybe pay for their long term care. Right? And I have clients that come in all the time and say, I just feel like there’s such a lack of information out there. And that’s true. They tell me, why don’t more people do a Lady Bird Deed? Why don’t more people know about the benefits of a trust and avoiding probate? And the reality is that there’s just a severe lack of education out there for people like you. Right?
And that’s what my goal is to educate. I love to teach. If I wasn’t doing this, I would probably be some type of law professor, right? But there’s lack of information out there for my clients. So this is what I chose to do is to teach every day my clients, new concepts to help prevent their money, their hard earned assets from being taken. Okay?
And that’s why we started McIntyre Elder Law in the first place is to protect people like you who have concerns about what’s going to happen in the future. How am I going to pay for longterm care? What risks do my assets face? We would love to tell you how that works, right? All of that and more. And we have a lot of information. Like I said, we love to teach. We put videos out all the time. We’ve written books. We have a podcast. If you want more information, I encourage you to visit our website at www.mcelderlaw.com or call our office (704) 259-7040.
Elder Law Attorney, Greg McIntyre, explains why he practices Elder Law and founded McIntyre Elder Law, a Firm with a focus on estate planning and elder law. Learn more at mcelderlaw.com or call: 704-749-9244.
Greg McIntyre: Hi, I’m Greg McIntyre with McIntyre Elder Law, and this is why I practice elder law and why our practice is named McIntyre Elder Law. I named our practice McIntyre Elder Law a number of years ago to focus us both internally and send a message externally that all we practiced is estate planning and elder law. That’s all. However, still people come in from time to time to asked me who my partner, mister elder, is, so we want, which I think it’s funny and they do, sometimes, but we wanted to just make sure that we didn’t get outside of our lane. Our goal is to be an inch wide and a mile deep in our knowledge area and our subject area and just stay within the field and be knowledgeable in the field of elder law and estate planning. So that is what our firm name is. That’s what our focus is.
Why did I focus on estate planning and elder law way back when? And I did love courtroom work, but this allowed me to do both. I still get to do litigation with guardianships, as well as contested probate litigation, which can be pretty intense and pretty tough sometimes, believe it or not, when people are fighting over money and estates. And so I’ve always actually enjoyed the courtroom work side of it, but I also enjoyed the strategy of planning to help people save their hard earned money and property.
I mean, I’ve had a grandfather, Papa Mack, who stayed in assisted living care over 14 years. It really took everything you had. And I never thought it was fair that he or anyone else in that situation who, because of no fault of their own and perhaps a lack of perceived planning or planning options or knowledge about planning, that people lose everything they’ve earned all their lives in the last few years of their lives because of the high cost sometimes assisted living, or nursing home care, or in home care.
There are other options out there and I wanted to find those options. In the quest for those options, I became a member of a national group of elder law attorneys. That’s Elder Council, which I’m very proud to be a member of Elder Council. That gives me a very deep bench of attorneys who help me solve problems and I help them solve problems if there’s things that we are working on or haven’t seen before. It just gives me a great network to communicate with and to work within. So very proud member of Elder Council.
And the more I started doing those things, the more it became imperative that I just focus in this area because I enjoyed it so much. And one of the hardest things I ever did was to cut out all the other areas of law that I practiced, because I loved my clients in those areas and I loved practicing in the courtroom and I loved those areas. But actually narrowing down that focus has allowed us to develop so many tools, opportunities, just new relationships and become the firm that we are today at McIntyre Elder Law, which has multiple attorneys and, I think, one of the greatest staffs that I’ve ever seen at a law firm assembled and just very blessed to be a part of that team also. I mean, everybody’s handpicked for the most part, gets along great. And our goal is to serve our clients and to go the extra mile.
So I’m Greg McIntyre at McIntyre Elder Law, and I practice elder law because I like helping people. That’s exactly why I practice. And it makes me feel great to help you and your family save your hard earned money and property because I think you deserve it. Give us a call if you have any questions. Our number’s (704) 749-9244 or you can go online and visit our website mcelderlaw.com. That’s M-C-E-L-D-E-R-L-A-W.com. Have a great day.
Wow! great show today on the Charlotte Today Show! Greg, Colleen and Eugene talk about Lady Bird Deed’s and how they can SAVE YOUR HOME. Get the LBD Map here: mcelderlaw.com/lbd or call: 704-749-9244 to learn more.
Speaker 1: Well, many people work their entire lives to pay off their home just to lose them in the end. How is this happening and how can it be prevented?
Speaker 2: For that, we turn to Greg McIntyre with MacIntyre Elder Law. Greg, good morning, welcome to Charlotte Today, we’re glad you’re here.
Greg McIntyre: Thank you very much, thanks for having me.
Speaker 2: Okay, so let’s talk about this. A lot of people receive longterm care in their older years, whether it’s a nursing home or assisted living. How is longterm care resulting in people losing their homes?
Greg McIntyre: Yeah, so many people work 30 years to pay off a mortgage, they pay three times to the bank what they actually bought the house for. Then, because of the high cost of longterm care and they need it, maybe they have to roll to a benefit like Medicaid to pay for that care, that runs up a large lien that then ends up taking the house when it passes, say, to the children for example. That’s how people lose their houses all the time, all across this county and the state, and really across the country, frankly.
Speaker 1: Well, you say there’s a protective deed to go ahead to mitigate against that so what is this deed that we’re talking about?
Greg McIntyre: Sure. It’s called an enhanced life estate deed, it’s built off the framework of a traditional life estate deed, it’s nicknamed a Lady Bird Deed, so a Lady Bird Deed and that’s a hot buzzword in the estate planning and Elder Law world over the last few years.
Speaker 2: Lady Bird Deed.
Greg McIntyre: Lady Bird Deed.
Speaker 2: Okay, so how is this different from other deeds, can you explain it to us?
Greg McIntyre: Absolutely. A Lady Bird Deed would allow, say, a senior and/or spouse, senior or spouse, to own their home for the rest of their lives and then pass it on directly to whom they want to. Let’s say, for example, the kids. Outside of the will and estate process automatically, when the last one of, say, husband and wife passes away and Medicaid which has a look back period, three years for assisted living, five years for nursing home Medicaid, if you have to apply for that because of the high cost of care, then even if you put a Lady Bird Deed in or own the house within that period, it’s okay because it’s Medicaid policy in North Carolina to allow that and to allow the home to then flow through.
Greg McIntyre: They know they can’t back recover it and that has helped many, many people over, say, the last seven, eight years that we’ve been using them, protect the home, save the farm so to speak, and keep that in the family.
Speaker 1: Basically, it’s a pass through to my kids?
Greg McIntyre: Let’s say deed planning passes outside of the probate estate. North Carolina is not an expanded recovery state so where liens attach private creditors or the state have to go through the probate estate to put a lien on that property.
Speaker 1: Gotcha.
Greg McIntyre: It passes outside of that directly to the beneficiaries or the grantees, so to speak.
Speaker 2: Greg, you’ve put together this Lady Bird Deed Map, we showed it on the screen a moment ago, you’re holding a copy right there. How can viewers get a copy of that if they’d like one?
Greg McIntyre: Again, as you may know by now, I’m a very visual thinker so I put exactly what happens if you’re one of the 70% of seniors that need longterm care and have to roll to Medicaid. If there’s a Medicaid lien to pay for that care, how that can attach in probate, not get to, say, the kids. Then, how a Lady Bird Deed, and I’ve listed some of the attributes of the Lady Bird Deed, actually helps pass that outside of the probate estate directly to the children.
Greg McIntyre: To get a Lady Bird Deed Map, go to mcelderlaw.com/lbd. We abbreviated it. Mcelderlaw.com/lbd. Then the Saving the Farm Book, which we talked about before, we’re going to give away a free audio book, an eBook copy of Saving the Farm if you go get that Lady Bird Deed Map today as well.
Speaker 2: Saving the Farm, there’s a copy of the book right there. You wrote this really to help people with a lot of these issues, kind of what you’re talking about today, among other things.
Greg McIntyre: I couldn’t find a book like it out there that really spoke directly to the consumer, directly to seniors and their families, so I wrote Saving the Farm, a Guide to the Legal Maze of Aging in America. We’ve sold tens of thousands of copies of that book, given away a lot too, and we’re going to give away a copy of that today if you go to mcelderlaw.com/lbd to get the Lady Bird Deed Map.
Speaker 2: That’s the website to go to to get a copy of that. Greg, thank you so much for being here today. Appreciate, pleasure, thank you.
Greg McIntyre: Yes, thank you, thank you very much, thanks for having us.
Speaker 1: Protect your home.
Greg McIntyre: Absolutely, protect your home, sometimes it’s the biggest asset.
Speaker 1: I know, protect your home. All right, thank you. Well, coming up on Charlotte Today, it’s time to pull out the warm winter coats. How to help our neighbors stay warm this winter when you clean out your coat closet.
Speaker 2: To get a good night’s sleep the answer might be a bed in a box.
Speaker 4: Are you interested in featuring your business on WCNC, NBC Charlotte or Charlotte today? Reach out to our sales team. Grow your business at wcnc.com.
Lady Bird Deed Map!!! Here is the In Depth After Party where Greg explains a Lady Bird Deed and how it can protect your house. Get the LBD Map here: mcelderlaw.com/lbd or call: 704-749-9244 to learn more.
Greg McIntyre: Hi, this is Greg McIntyre with McIntyre Elder Law, helping seniors protect their assets and legacies, and we just finished up the Charlotte Today Show talking about Lady Bird deeds and the Lady Bird deed map. And I wanted to use this, this is the after show kind of explanation where we get a little more in depth and dig a little deeper into whatever subject matter.
And today we’re talking about Lady Bird deeds, a little known deed that packs a big impact. It could impact you and your family, let me tell you how. 70% of seniors over the age of 65, according to a 2005 US Department of Health and Human Services report, are going to need some type of longterm care during their lives, either in home, assisted living or nursing home care. Those are huge odds, those are absolutely worse than Vegas odds and Vegas is a big place, it wasn’t built on winners.
So, I don’t want you or your family to lose. So I want to give you this information that you may not hear everywhere. I’m an elder law attorney, that’s all we practice at our firm, McIntyre Elder Law, is estate planning and elder law. We are so serious about it, we named our firm McIntyre Elder Law some time ago, and I still have people come in and ask me who my partner is, Mr. Elder. There is not a Mr. Elder partner, that is the type of law we practice. So I’m going to tell you in elder law how we use Lady Bird deeds, they’re also called enhanced life estate deeds, which means that it’s built off the framework of a traditional life estate deed, but works a little differently.
If you are one of the 70% of seniors over 65 and you need some type of longterm care, do you have the means, do you have the money to pay for that care? Because he can be very expensive when you look at average cost of nursing home or assisted living care annually, and it can take sometimes everything someone worked for their entire lives and spin that down in the last few years of their lives for care. If that happened or if you find yourself in that situation and you don’t have longterm care insurance to pay, then you may roll to Medicaid to pay for that longterm care. If you roll to Medicaid to pay for assisted living or nursing home Medicaid, which is called special assistance Medicaid, that’s the program in North Carolina that pays for assisted living.
Longterm care Medicaid pays for nursing home care, special assistance Medicaid has a three year look back period. Longterm care Medicaid has a five year look back period and they’re going to look at all deed transfers you’ve made, all bank transfers, any asset transfers within that lookback period, and they’re going to make sure that those transfers fit the Medicaid spin down rules, it’s what you’ll see. And you can Google those rules and those are pretty straightforward, but one of the little known policies of North Carolina Medicaid is that they allow a Lady Bird deed to be placed on a home to protect your home, even if you’re within that lookback period. Otherwise, if we gifted the home or if we placed a traditional life estate deed on the home, it wouldn’t be allowable under those Medicaid rules, under that look back period. So you would have to transfer it back or the kids would have to transfer their interest back before Medicaid would pay for longterm care.
A Lady Bird deed allows you to protect your home and any surrounding property, any surrounding parcels and connecting adjacent parcels up to a property value this year of $572,000. So if it’s that or below, then you could put a Lady Bird deed on your home and still access that benefit and it would be fined under the Medicaid rules in North Carolina, even if it was within the lookback period when you placed that on the property. I would argue that even if you already own Medicaid and in endanger of losing your house, then you could put one on then. Timing is not important there, because Medicaid allows that by policy.
Now, the reason Medicaid can take the home is when the home passes title, it has to pass title somehow. Well, that’s through the probate or estate administration, with or without a will, that process at the courthouse. A Medicaid lien can attach to the house if there’s one out there or any other lien, and then it forces the sale or auction of that house and the family loses the house. That is an unfortunate situation. So to combat that, a Lady Bird deed passes the property outside of the probate estate directly to the heirs, that’s how deed planning works, that’s how deed plannings work for a long time, even with traditional life estate deeds. So, a Lady Bird deed is a unique deed that our firm has used for years to help families, specifically with a longterm care issue or are in danger of losing their homes due to longterm care costs.
That’s my cue to start wrapping it up. So, we’ve used that to help them protect their homes and keep farms, land, homes in the family for the next generation. So I would rather, I know, I have six children. My wife and I would rather pass our hard earned money and property to our children, rather than simply losing it or giving it up to the state. I play plenty in taxes, I promise you. So what we’ve done is we’ve created a Lady Bird deed map. I am a visual thinker, I have mapped this out for you. What this is, is this shows that if you’re part of that 70% that needs longterm care, if there is a Medicaid lien that pays for care, how it attaches when it passes through the will and probate process and does not get to the kid because it’s sold to satisfy that lien. But a Lady Bird deed, and we’ve listed the attributes here, passes it directly to the loved ones.
You can get this free Lady Bird deed map by going to mcelderlaw.com, that’s M-C-E-L-D-E-R.com/lbd. You can go to Mcelderlaw.com/lbd and get that free Lady Bird deed map that I’ve created for you today. In addition, if you go to mcelderlaw.com/lbd, we’re also going to give you a free ebook and audio book version of Saving the Farm, A Guide to the Legal Maze of Aging in America. I wrote that look because I didn’t see a lot of books out there like it, that spoke directly to the client and the senior and their families and told them how to navigate that. And it gives you a lot of information, we interviewed experts in their field in different areas of senior care, paying for long term care, benefits, all packed in the Saving the Farm. Very proud of that book. I’m probably more proud of that than most of the things I’ve done in my life besides marrying my wife and have six children.
So, check out that. I’m giving a free copy of that away on the mcelderlaw.com/lbd link, and you’ll get the brief estate planning map. Thank you so much for watching today. I hope you and your family have a good holiday season and I hope you save your farm, your house. Saving the farm is a metaphor, obviously, but everybody really has that legacy they worked to build for themselves and hopefully that can benefit your family. Have a great day. See you soon.
The information in this article can help transform your situation and life.
I’m Hayden Soloway of McIntyre Elder Law. My guests today are Woody and Franda Aud. They’re going to talk to us about their experiences with McIntyre elder law.
My name is Woody Aud and I just recently retired from the financial services industry. I met Greg at a financial seminar dealing with elder law and financial planning several years ago. I was impressed with the message he had, and the things he could do to help clients. When I retired, I started referring folks to him with regards to veteran’s benefits because I had great confidence in him.
The main thing that Greg helped us with was with my wife Franda’s aunt, who recently became ill. I’ll leave it to Franda to tell the particulars on that.
Hi Franda, about your aunt, Frances, could you tell us a little about what Greg did for her and you?
My Aunt Frances survived two husbands, she never had children. I have two cousins and a brother and we’re the only family she has left. She’s 93 and her health started to go down rapidly. She had poor circulation and issues throughout her life but would always snap back. Unfortunately, this time that didn’t happen.
We were forced to find some type of care for her. She was in a facility following surgery, and the money was running out, and she needed twenty-four hour care. You know how expensive those situations can be. As my husband said, he met Greg at a seminar, but it didn’t dawn on me to call Greg at the time she was going through these things. Thank goodness Woody remembered.
We came to the office and Greg was able to guide and help us get Frances qualified for long-term-care for Medicaid, because her assets were very small. She did not manage her assets wisely. I guess with losing both husbands she was on her own and wouldn’t ask for help.
Like most seniors, we put most of our assets into our home. Once that’s paid for you feel like, at least I’ve got a place.
Right, you feel confident at that point. But we were concerned about her home, and when we came to Greg, he got us to do the Ladybird Deed to protect her home. That was a blessing.
A Ladybird Deed is not available in all states. Fortunately, North Carolina is senior friendly and does accept Ladybird deeds. So, you’ve protected her home and she’s qualified for Medicaid.
Yes, and that went through very quickly. If we had to do that on our own, we would probably still be trying to get her qualified.
Woody mentioned about it being a crisis situation. Planning in advance, which is less expensive, can help protect many more assets. If you are in a crisis and are already in a nursing home and the money is flying out the door, it’s unbelievable how expensive it is, but we can stop it and help preserve those assets.
We were very glad we had Greg to help us. It was a blessing.
We appreciate you coming in and sharing this. I think this can help others ask the questions we didn’t know to ask, and benefit from your experience.
To find out more about Ladybird deeds, crisis planning, long-term-care for Medicaid, or any aspect of elder law, contact McIntyre Elder Law at 704-259-7040 or visit mcelderlaw.com and sign up for the free newsletter.
I’m Hayden Soloway of McIntyre Elder Law. My guest today is Samantha Yelton. She’s going to talk to us about her experience with McIntyre elder law.
Samantha, we met at the world series, you were looking at the booths, and McIntyre Elder Law had one set up.
I had previously thought about contacting an attorney to help me with protecting my mother’s assets, and I just happen to see the booth and of course elder law caught my attention. I went over and Greg was there. He introduced himself and I spoke with him. He told me what he was able to do. I gave my phone number and it went from there.
Tell me a little about your mom?
She’s in her late seventies. My father passed away about two years ago, so she’s by herself, and I was just trying to prepare for her future.
What about you?
Well, I’m a mother, I have one son and I’m a home care nurse for Hospice Cleveland County. I really enjoy my job. That’s something I’m passionate about is helping others.
Since you needed information about your mother, what did Greg suggest you do for her. What kind of work did she need done to prepare?
I’d gone to him to find out more information about the Ladybird Deed. It was something I’d heard about in the community and through working for hospice. The term had been thrown around and I wanted to see if it was something we could use to help protect her property, in case she ever needed to go into a nursing home. Also, she had a health care power of attorney and durable power of attorney, but I felt they needed to be updated since my father’s death.
What was your experience of working with Greg and getting the Ladybird Deed completed?
I came to the office and I told him what I wanted. He provided information and told me step by step what I needed to do. There were things I needed to take care of on my end as far as getting titles transferred into my mother’s name. Once all that was done, Greg and his team took care of it. They were very knowledgeable and professional. It was a good experience.
To find out more about Ladybird deeds, healthcare power of attorneys, durable power of attorneys, or any aspect of elder law, contact McIntyre Elder Law at 704-259-7040 or visit mcelderlaw.com and sign up for the free newsletter.