Estate Planning

We advise families on how to arrange assets and choose the proper legal documents to help you plan so your loved ones are provided for in the event of your illness or death. Customized to your specific set of circumstances, estate planning can include drafting a will, a living will, healthcare power of attorney, trusts, and durable general powers of attorney.

Wills

A last will and testament addresses your wishes after you pass away. This legal document names an executor of your estate to manage it, pay debts, and distribute property as directed. The distribution of assets is explained in the will, but it must go through probate court first.

Trusts

The benefit of a trust is that it does not go through probate like a will. Property is still distributed at death, but it is done without a court proceeding. With a trust, your property will move into the trust during your lifetime. The trust owns the property, and a trustee distributes assets to your beneficiaries after your death. There are many types of trusts used to meet various goals, such as asset protection when qualifying for Medicaid and protecting a child with special needs.

Medicaid Asset Protection Trust (MAPT)

You may want to protect your home and assets for the benefit of family members instead of being spent down to pay for medical needs. A MAPT prepares you for potential health issues, sheltering resources to prevent a financial crisis.

Special Needs Trusts

Omega Elder Law can help you plan and prepare for the current and future care of the special needs individual in your family. Depending on your situation, we can assist with applying and qualifying for Medicaid, providing for your loved one in your will, or setting up a special needs trust or other legal arrangements. There are many ways to ensure quality care and support your loved one without jeopardizing government benefits. We can also talk about alternative caregivers and guardianship.

Powers of Attorney

Powers of attorney are critical parts of an estate plan. In these legal documents you designate a trusted person to act as your agent to make decisions on your behalf during times of incapacity. An agent under a financial power of attorney makes decisions related to financial matters; a health care agent makes health care decisions.

Living Wills

A living will explains your wishes for end-of-life care. This document can include what medical treatments you prefer if you are incapacitated. A living will takes the stress of making those difficult decisions off family members during emotionally challenging times.

Advance Instruction for Mental Health Treatment

An advance instruction for mental health treatment tells physicians and mental health providers what mental health treatments you would or would not want if you are unable to communicate your wishes. You also can name a person you trust to make your mental health decisions.

If you or a loved one has been diagnosed with Alzheimer’s or dementia, Omega Elder Law offers customized legal planning and recommends starting as soon as possible.

Request a consultation with an experienced estate planning attorney!

Janna Wallace is an NC State Bar Board Certified Specialist in Elder Law and has been practicing law for 20 years. She is the owner of Omega Elder Law, with offices in Fuquay-Varina and Raleigh, NC. Janna developed an interest in elder law during her four years as a Medicaid Eligibility Specialist for the Department of Social Services. Her practice is focused on estate planning and administration, as well as elder law, including Medicaid planning, special needs planning, and assistance with Alzheimer’s and dementia.