Planning ahead allows you to:
- Choose your decision-makers
- Avoid guardianship proceedings
- Keep your family out of court during an already stressful
time
Start Planning Early for Long-Term Care
Long-term care is one of the largest threats to retirement security. Nursing home care and assisted living can quickly drain a lifetime of savings if no plan is in place.
At age 60, you still have options. Timing matters!
Long-term care planning may include:
- Evaluating long-term care insurance as a potential income stream for care
- Structuring or setting aside assets to protect them from future care costs
- Planning ahead for LTC Medicaid eligibility
Set Beneficiaries Correctly and Avoid Probate
In North Carolina, probate is:
- Time-consuming
- Public
- The place where claims can attach to assets
This is especially important if long-term care benefits are later activated, as probate assets can be exposed to recovery claims.
An effective plan coordinates your goals, your assets, and your family structure to ensure:
- Assets pass to the right people
- Claims are minimized
- Decision-makers are clearly in place
