WebSep 9, 2024 · N.C. Gen. Stat. § 1C-1601 (a) (1). 529 Plan. North Carolina law protects up to $25,000 placed in a 529 college savings plan, which benefits a child of the debtor and will actually be used for the child’s college or university expenses, if the plan was purchased more than 12 months prior to a creditor obligation. WebFeb 15, 2024 · Form a life estate. Some of the strategies that can help protect your assets require advance planning—as in, at least five years before you'll need nursing home …
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WebFeb 10, 2024 · Assisted living facilities - $3,000 to $7,000 per month. Dementia care assisted living - $3,000 to $8,000 per month. Nursing home care - $10,000 to $12,000 per month. When looking to protect assets from the cost of long-term care, people generally think about Medicaid planning so that the government pays for your long-term care … WebJan 6, 2024 · A Medicaid Asset Protection Trust (MAPT) is a type of irrevocable (irreversible) trust that protects assets from being counted towards Medicaid’s asset limit. These trusts also preserve assets for family and other loved ones as inheritance. Assets, which may include one’s home, are put into a trust and are no longer considered owned … ios has access to gmail
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