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Why People Don’t Plan?

in Articles by Greg McIntyre Leave a comment

Ego… People don’t plan because their egos get in the way. The dictionary definition of ego is a person’s sense of self-esteem or importance. It’s the part of us that we build up over time to protect us from fears and dangers that our true selves don’t deal with directly. So we develop this ego. The ego doesn’t think. It runs on autopilot. It can take over and run you if you let it.

Planning requires introspection. It requires taking a look at ourselves, our lives, our families. Planning requires us to look at the good, bad and the ugly of our lives. Many of us are protected too much by our egos to get that vulnerable. To take a realistic look at your life takes courage. To get vulnerable and discuss financial wealth with an attorney would require a removal of that protective ego to lay everything out on the table. True planning works that way, though. The best planning comes from a total honest and reflective look at the person, their desires, their savings and their family. It requires one to get in touch with their feelings. What do you feel? What do you want? This can be hard for some people. This can be hard for most people. When we drop the ego we become vulnerable and can engage in true planning because we see ourselves and others through an unclouded lense. We hear our true selves.

The planning I do, like in depth estate planning, works best when my clients trust me. Really, that is the only way it works. The more real and vulnerable I am, the more real and vulnerable they are willing to be and the better, more true and real plans we can create. I have worked for years to plan my life, my business, my family and I fail miserably lots of the time. It is from these failures that I learn. That I apply those lessons to my own life and convey those lessons to my clients. There was one time I thought it would be a brilliant idea to create a virtual estate planning platform. I spent tens of thousands of dollars on it. The project sits unfinished and I realized the platform would compete against our brick and mortar offices. I did, however, learn a ton from that project. I still use bits and pieces of that project in other ways today at our firm. It is through trial and error and learning and growing that we make progress. I share all my failures with client if appropriate and relates to the subject at hand so the clients won’t have to make the same mistakes. I have seen what works and doesn’t work with thousands of clients through handling their estate plans and probate estates. Ultimately, I (…and my ego) take pride in the fact we have saved literally hundreds of millions of dollars for clients over the years. I have experience with being vulnerable. I have sobbed my eyes out reading a poem on Facebook to all of our followers before. Talk about setting aside your ego. It would satisfy my soul if at the end of my journey a crowd of people might gather and say, “Greg was a great guide.” That is what I want to be, a guide… a guide that helps you navigate life and your estate planning journey for the betterment of you and your legacy. Call me if I can help at 704-749-9244 or reach us online at mcelderlaw.com.

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Greg McIntyre Elder Law Attorney

Greg McIntyre Elder Law Attorney

written by:

Greg McIntyre

Elder Law Attorney

704-749-9244

greg@mcelderlaw.com


Estate Planning & Elder Law Attorney, Greg McIntyre, discusses the main psychological reason why people don’t plan.

Can we help protect your future?

 FREE CONSULT
1. Let’s look at saving assets.
2. Let’s look at protecting family.
3. Let’s plan for the future.
704-749-9244
 Book online: mcelderlaw.com/freeconsult

Schedule Free Consult

IN PERSON . VIDEO CONSULT . PHONE CONSULT

What if You Want to Sell Real Estate but the Other Owners Refuse?

in Articles by Greg McIntyre Leave a comment

What if You Want to Sell Real Estate but the Other Owners Refuse?

So, you’ve inherited some property and want to sell. Unfortunately, there’s at least one other owner and they either refuse to let go of the property or they are dragging their feet. If you and the other owner or owners cannot agree, there’s a solution: partition. 

People have been fighting over what to do with property as long as people have owned property. Because of people’s inherit propensity to disagree, the legal remedy of partition has been utilized for generations as a resolution to disputes among owners. Essentially a partition is simply one or more of the owners exercising their right to hold the interest separate from the other owners.

            What is a Partition?

There are two types of partitions partition in kind and sale in lieu of partition. Courts favor a partition in kind if it is available. A partition in kind means that the property in question is physically split into multiple parts and distributed to each co-owner. For example, let’s say there’s a 100-acre tract of land owned by person A and Person B. Person A wants to sell but person B refuses. So, person A petitions the court for a partition. The court would likely split the land into two 50-acre tracts and give them to person A and B respectively. Now person A is free to sell her part.

Even though a partition in kind is favored, there are many instances where this type of partition could materially injure one or more of the owners. For example, if the land cannot be split equally because of the physical nature of the property or if the property in question is just a house on a less than 1-acre lot. In these situations, a sale in lieu of partition is more appropriate.

If the property is sold in lieu of actual partition, the proceeds of the sale of the property are split among the owners of the property based on their ownership interest. So, if someone owns 10% of property, they will be entitled to 10% of the proceeds of the sale, with one small caveat.

Costs

When it comes to forcing the sale of property, the subject of cost will inevitably arise because, usually, one of the owners has kept up the property up to the point of the partition. For example, all owners of the property are liable for the property taxes. The property taxes must still be paid, even if one owner refuses to chip in their fair share. This, many times, results in one owner bearing the costs for the others. This unfairness tends to incentivize partition of the property, so that the responsible owner is not punished. The partition fixes the issue going forward, but what about the money that’s been paid up to that point?

Thankfully, the courts have recognized that one or more of the parties may have had to pay more than their share of costs for the property. Thus, the law in North Carolina allows for an owner to recover costs they’ve paid to maintain the property through the partition process. Although, the owner must be able to prove such payment through appropriate documentation.


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Conclusion

If you are in the position where you own property with another and you cannot come to an agreement on what to do with or how to pay for the property, a partition may be right for you. Let the experienced attorneys at McIntyre Elder Law help. Call (704) 259-7040.

Schedule Free Consult

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Brenton S. Begley, Elder Law Attorney

Book Your FREE CONSULT Today!

Regards,

Brenton S. Begley

Elder Law Attorney

McIntyre Elder Law

“We help seniors maintain their lifestyle and preserve their legacies.”

www.mcelderlaw.com

Phone: 704-259-7040

Merry Christmas from The McIntyre’s!!!

in Articles by Greg McIntyre Leave a comment

We are in the middle of as house move and trying to put together a great Christmas for the kids and each other. In the end we are blessed to have each other and Christmas turned out great! Please share our Christmas with us.

I have saved HUNDREDS OF MILLIONS $$$ for clients and their families!!!

in Articles by Greg McIntyre Leave a comment

I have saved HUNDREDS OF MILLIONS $$$ for clients and their families!!! Who I am and how I can help you. Schedule your FREE consult today: mcelderlaw.com/freeconsult.

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The Season for Thanks And (Efficient) Giving

in Articles by Greg McIntyre Leave a comment

The holiday season brings many of us an annual reminder to share our love, our cooking, and our gifts with those around us.  I have been thinking specifically about what it means to give gifts during this time of year because of the unique position my role as an attorney provides for me to witness the power of giving on a daily basis. 

I see it when parents come in and do the hard work of planning ahead for future medical and financial decisions so that their children aren’t challenged with handling future crisis situations on their own.  I see it when someone comes in to take on the task of seeking guardianship for a parent that needs help with managing their affairs and receiving care later in life.  I see it when an individual takes the time to set up estate planning documents that benefit a charitable cause that they are passionate about.  I simply see continuous examples of how giving our clients can be and how powerful that giving is. 

I am also reflecting on what role we as attorneys have in that giving process.  There is a school of thought that I like to reference called efficient giving.  It typically refers to what is the most efficient way to donate your money to charitable organizations.  Some organizations believe that their charitable goals are best met if the donations they receive are used in broader ways, such as a focus on marketing to get new donors and grow their total number of gifts that they receive.  On the other side of that coin are organizations that focus on maintaining as little overhead costs as possible so that they maximize the extent to which every donation they receive goes directly to the cause that they are supporting. 

I bring this up not to argue for one position over the other, but to argue for the idea of efficient giving itself when it comes to caring for those that mean the most to you and how our firm fits into that ideal.

I see how our firm plays an important role in making sure that your giving is efficient.  We study these areas intensely and always look to better ourselves in this practice so that when you turn to us for help in giving to those that you care about, we know how to get you to your goal in the best possible way.  When documents are done poorly, when cases are handled incorrectly, or when actions are taken without the right advice it can be a recipe for a very inefficient way for you to give to your loved ones. 

Being in a position to minimize the stressful nature of these situations and allow you to efficiently give is something that I am proud of.  And you should be proud too, because the gift that you give by stepping up to difficult conversations and hard tasks for the benefit of someone that you care deeply about leaves a legacy that keeps on giving.  As we move towards a new year, this being my first with the team here at McIntyre Elder Law, I am rejuvenated knowing that our work at this firm carries on the ideals of giving and helping others to give.  If there is something in your life that comes to your mind as you read this, a gift that remains undelivered, we are here to work with you to achieve that.  Our goal is to make your gift to a loved one in the most efficient way possible, so that you get to give yourself less stress and peace of mind.

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Jake Edwards

Estate Planning & Elder Law Attorney

mcelderlaw.com

Hendersonville Office

136 S. King St. Hendersonville, NC 28792

828-233-5991

How do I Qualify My Loved One for Nursing Home Medicaid in NC?

in Articles, Attorney Advisor Series by Greg McIntyre Leave a comment

Don’t worry… We can help.

   So, you’re one of the few people who understand that 70% of individuals over 65 will need long-term care. You also understand that figure to mean that you have a 70% chance of paying tens of thousands of dollars a month in long-term care. Lastly, you’re someone who’s worked hard their whole lives and you don’t want to see everything you worked hard for go to some facility. Thus, you know that you should plan to use Medicaid to pay for long-term care. The only issue is, how do you qualify?

            Before we talk about qualification, let’s clear the air. First, Medicaid is a system that you’ve contributed to your whole life. It’s not assistance, it’s reimbursement.  Second, those who have Medicaid pay for their long-term care are not forced to some “Medicaid facility.” That’s a myth.

            Now that we’ve cleared the air, lets talk assets. Take stock of your assets and break them down into the following categories: 1. Financial Assets e.g. cash, accounts, investments; 2. Real property; 3. Titled personal property; and 4. Other miscellaneous assets e.g. businesses and business equipment. The following rules apply to those categories:

 Finances or financial assets (not counting income unreceived) is considered to be a countable asset for Medicaid purposes. This means that it is an available resource that Medicaid would “count against” the applicant.

            Real Property: Real property is generally considered to be a countable asset except for the following: a. the personal residence (where the applicant intends to remain or intends to return) ; b. life estate interests; and c. tenants in common interests, also known as a less than 100% interest in property.

            Business interests: Businesses are countable assets; however, the working capital, inventory, and equipment do not count. Thus, the business’s value is what is countable.

            Personal Items: personal items are generally not countable unless they are a titled asset, or they are some sort of currency or currency equivalent like gold or silver. With respect to titled assets, an applicant and spouse is allowed to own ONE vehicle. 

Note that the applicant can only have up to $2,000.00 worth of countable assets in their name. The applicant’s spouse can only have up to roughly $126,800.00 worth of countable assets in their name.

So, what can you do if you’re over the threshold? The answer is: it depends. It’s different depending on whether you’re in a crisis i.e. need care immediately or if you’re pre-planning. If you’re pre-planning you have many options. Some of those options may be trusts or certain deed work that can exempt your property from being considered a countable asset.


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If you’re in a crisis situation, then the plan is a little different. There are many options that you can use spend-down the countable assets while preserving the value. If you have questions about Medicaid Qualification, call the experienced attorneys at McIntyre Elder Law (704) 259-7040.

Schedule Free Consult

IN PERSON . VIDEO CONSULT . PHONE CONSULT

Book Your FREE CONSULT Today!

Brenton S. Begley
Elder Law Attorney

Regards,

Brenton S. Begley

Elder Law Attorney

McIntyre Elder Law

“We help seniors maintain their lifestyle and preserve their legacies.”

www.mcelderlaw.com

Phone: 704-259-7040

Back To Your Roots

in Articles by Greg McIntyre Leave a comment

Sometimes you have to go back to your roots to move forward. We stand on the shoulders of our parents, our grandparents. Soon, we will be the roots. Let us help you build a firm foundation and plan at McIntyre Elder Law. Visit us today: mcelderlaw.com.

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How can I be HURT by simply NOT KNOWING?

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Knowledge is power in a legal maze of changing rules and laws. From taxes to changes in the law regarding long term care benefits. Stay INFORMED! Learn what you NEED TO KNOW to protect your children and grandchildren. Leave a legacy of life long learning. Signup for the FREE Elder Law Report eNewsletter TODAY! SIGN UP NOW!: https://mcelderlaw.com/signup-newsletter/

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Adult Guardianship: What is it and when is it needed?

in Articles by Greg McIntyre Leave a comment

Guardianship over a loved one can be tough but needed.

Overview

Guardianship is a legal process that involves the adjudication of an allegedly incompetent person and the appointment of a Guardian over that person. In other words, a court makes a determination, based on the evidence presented, as to whether a person is incapable of making important decisions concerning their own personal welfare and/or financial resources. Once a person is adjudicated incompetent, a suitable candidate is often presented to the court to determine their eligibility to act as guardian and whether they can faithfully execute and manage the many responsibilities that come along with being a guardian.

Once deemed incompetent, the individual is commonly referred to as the “ward.” A close family member that is both eligible and willing, may be appointed guardian over the ward’s person, estate, or both. Note that guardianship is not to be used as an attempt to control an individual’s behavior. It is most appropriate where there are no other simpler alternatives available, such as pre-existing General Durable or Healthcare Power of Attorney documents. The overall purpose of guardianship is to appoint a guardian to help an individual exercise their rights.

Incompetence

How do you know if someone is incompetent?  Ultimately, the answer to that question lies with the court.  However, there are numerous considerations that can be taken into account.

Pertinent questions include:

  • Whether the individual can understand and participate in regular conversations?
  • Whether they make decisions related to household chores, following a daily schedule, using a bank, or shopping at a store?
  • Do they understand and can they communicate their healthcare choices and follow medication instructions?
  • Can they pay their own bills and manage their own finances?
  • Are they subject to financial exploitation by others?
  • Can they recognize danger and seek shelter as needed?
  • Is the person able to eat and drink independently?
  • Is the person able to maintain their own personal hygiene?

Note that this list is not comprehensive, but it serves a logical purpose. Every guardianship involves a review of an allegedly incompetent person’s mental and physical condition. The primary focus is on their ability to be responsible for their own personal and financial welfare.

Appointment

Once a person is adjudicated incompetent by a court, the next step is to determine who will be appointed as guardian.  As previously mentioned, there are several ways that can happen. The court will seek to appoint a suitable candidate in every guardianship proceeding. A suitable candidate may be appointed as a “Guardian of the Person,” or GOP for short. A GOP is appointed for the sole purpose of performing duties related to the care, custody, and control of the ward. A “Guardian of the Estate,” or GOE, is appointed to manage the property, estate, and business affairs of a ward. A “General Guardian” is defined under the relevant statute as a guardian of both the estate and the person. In some situations, a limited guardian is appointed allowing the ward to retain certain legal rights and privileges, dependent upon the nature and extent of the ward’s capacity to make and communicate decisions related to their personal and financial welfare.

A guardian candidate’s suitability really hinges on their ability to make knowledgeable, informed decisions about the ward’s personal welfare and/or their income and property. Additionally, the court will consider the proximity of the proposed guardian candidate to the ward. It is preferred that a guardian be local to the ward’s area and available to the ward when needed. Be mindful that the court does not always appoint a family member as guardian. For example, the court, in considering the best interest of the ward, may appoint a third-party attorney to handle a ward’s financial matters where there is no other suitable candidate. Ultimately, the decision rests with the court.


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Here at McIntyre Elder Law, we regularly help families decide whether guardianship is the best answer. Once confirmed, the need for guardianship becomes a legal process handled by our professional team. If you believe that guardianship may be in order or if you have concerns about a loved one’s competency and ability to handle and manage their own affairs, please call (704) 259-7040 to schedule your free consultation today.

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Therron Causey

Estate Planning & Elder Law Attorney

704-749-9244

therron@mcelderlaw.com

mcelderlaw.com

How Can I Afford Estate Planning?

in Articles by Greg McIntyre Leave a comment

How Can I Afford Estate Planning?

Anyone can afford estate planning. We have clients from all walks of like and we have trained checkout personnel that will work with you to help you achieve your goals and plan.

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