Why Keeping Assets in Your Name Matters
We typically advise clients to retain ownership of their assets during their lifetime while using strategic planning tools to ensure loved ones
are protected in the future.
Estate planning is not a one-time decision—it’s a flexible, living strategy that should evolve as your family, finances, and goals change. There are ways to protect assets for long-term care or benefits planning without giving away everything you’ve worked so hard to
build.
Preventing Financial Exploitation
Unfortunately, increased financial stress has led to a rise in elder exploitation. We regularly see situations where well-intentioned asset transfers—such as putting a home in a child’s name—create devastating consequences due to divorce, bankruptcy, lawsuits, or tax
issues.
In many cases, these transfers are unnecessary.
Safer alternatives may include:
- Payable-on-death (POD) designations on bank and retirement accounts
- Beneficiary designations on life insurance and similar assets
- Lady Bird Deeds (Enhanced Life Estate Deeds) for North Carolina real estate, allowing property to pass automatically at death with tax advantages—while you retain full control during your lifetime
These strategies
allow you to pass wealth efficiently without sacrificing control or security.
