Fortify Your Future: A Guide to Safeguarding Your Real Estate Assets

Safeguarding Your Real Estate: Strategies and Risks

Understanding the protection of your real estate involves recognizing key risks. These include the expenses associated with long-term care and the intricacies of probate.

Why Are Long-Term Care and Probate Significant Concerns?

A large portion of the population, particularly those over 65, faces the possibility of needing long-term care, which can be costly, ranging from $5,000 to $10,000 monthly. Many people, unable to afford these costs, might have to sell their assets, including real estate, or rely on benefits, both of which put their property at risk.

Probate plays a crucial role here. For example, if someone incurs substantial nursing home expenses or uses Medicaid for care, these entities will seek reimbursement. In states like North Carolina, which is a “limited recovery state,” this reimbursement is mainly pursued through the probate process. Thus, avoiding probate can be crucial in protecting your assets.

Strategies for Protecting Real Estate

1. Utilize a Ladybird Deed for Your Home:

This allows you to qualify for Medicaid or VA Aid and Attendance benefits while keeping your home out of probate. Unlike transferring ownership to a relative, which could disqualify you from benefits, a Ladybird Deed lets you retain control of your home and avoid probate upon your passing.

2. Leverage a Percentage Interest Deed for Other Properties:
Owning a partial interest in additional real estate can help you qualify for benefits. A deed granting a partial interest, coupled with a “right of survivorship,” helps avoid probate for these properties.

3. Establish a Trust for Comprehensive Protection:
Trusts are effective pre-planning tools for safeguarding assets from long-term care expenses and probate. By setting up a convertible or irrevocable trust, your assets can be exempted for benefit eligibility purposes. Trusts also facilitate avoiding probate for any assets they hold, sidestepping a potentially lengthy and costly process.

Take Control and Plan Ahead

Real estate often represents a person’s most significant asset and a legacy for future generations. Proactive planning and legal advice are key to safeguarding these assets. For detailed guidance on asset protection, consider consulting with experienced attorneys, such as those at McIntyre Elder Law, and explore your options in a free consultation.

Free Consultation Offer

For those interested in exploring their estate planning options, including the use of tools like the Lady Bird Deed, a free consultation is available. You can schedule this by visiting or calling 1-888-999-6600.

Brenton Begley

Estate Planning & Elder Law Attorney

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Greg McIntyre, JD, MBA

Meet Greg McIntyre

Greg McIntyre, founder of McIntyre Elder Law, is more than just an attorney. As a Navy Veteran, father to six kids, and a loving husband, he values family deeply. This drives his commitment to helping clients safeguard their futures and pass down legacies.

Greg has a passion to help people. Beyond just legal advice, he loves having conversations and strives to build a long-term relationship with every clients that comes through his door.

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Act now to secure your legacy and protect your loved ones.

At McIntyre Elder Law, we’re dedicated to assisting North Carolina families, seniors, and their loved ones as they plan for the future.

Whether you need to prepare for future long-term care, access Medicaid or nursing home benefits, or need help settling a loved one’s estate, we’re here to support you.

Contact us for a complimentary consultation to take the first steps towards safeguarding your lifestyle, your legacy, and your family’s wellbeing.

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