Elder Law Medicaid Planning In St. Joseph Mo - Tips For Hiring The Right One

Published Oct 19, 21
7 min read

Where Can I Find Elder Law Medicaid Planning In St. Joseph Mo in St. Joseph Mo?

  

 

G Brent Powers Law Office
3715 Beck Rd D-401, St Joseph, MO 64506
Q5QW+6R St Joseph, Missouri
18162330257
https://gbrentpowerslaw.com/

Elder Law Medicaid Planning In St. Joseph Mo



Elder Law Medicaid Planning In St. Joseph Mo 

We want to help you and your loved ones make informed decisions about Elder Law issues, such as estate planning and nursing home Medicaid planning. Everybody has their own path to "golden years". Unfortunately, this path has become more complex over the years. Our firm prides themselves on providing unique solutions and planning that are tailored to each client's needs. Please contact us today to discuss your questions regarding your home and farm, real property deeds, power-of- attorney, trusts/vs. wills probate vs. not-probate transfers, or long-term issues. Click here for Content Elder Law Medicaid Planning In St. Joseph Mo

Elder Law

Elder Law is a specialty that helps seniors and provides guidance. As we get older, there are many more issues that we face than we did when we were younger. These include long-term care, housing, retirement and wealth transfers. Elder Law covers these and many other concerns that elderly people face.

Many elderly citizens worry that they will lose their home and savings if they are in need of long-term nursing home care. They don't wish to become a burden for their family or society.

Elder Law Medicaid Planning In St. Joseph Mo

Brent has provided expert and thoughtful advice to thousands of families across Saint Joseph and Northwest Missouri, providing them with peace of heart. He has more than 30 years' experience working with clients to design estate plans and real estate transfers.

Brent can help you create a plan that suits your needs and learn more about Elder Law.

Nursing Home Medicaid Planning It's never too early for you to start planning for Medicaid, long-term or even short-term care. Many people don't know how Medicaid works and haven't planned for long-term care. Many families don't know who can be eligible for Medicaid or how their spouse and family can benefit from it. It is important to select a Nursing home Attorney with extensive experience who is dedicated to helping families.

With his expertise in nursing home Medicaid planning, Brent has helped families across the community save thousands of dollars. Brent is a licensed nursing home lawyer and would like to share some key points about Medicaid. While the majority of information about nursing home Medicaid is good-intentioned, it is almost always inaccurate.

Affordable Elder Law Medicaid Planning In St. Joseph Mo

It is almost never too much too soon to plan.

Your loved ones can still receive Medicaid benefits even after they move into a nursing home.

Elder Law Medicaid Planning In St. Joseph MoIt is crucial to be aware of legal protections and strategies that are available for the spouse or family member of a resident at a nursing facility. People are often afraid that they might lose their home or their life savings if their spouse or a loved one must move into a nursing care facility. We can almost always insure that this won't happen to you.

Numerous financial safety nets are available for both couples and seniors without jeopardizing Nursing Home Medicaid eligibility.

Elder Law Medicaid Planning In St. Joseph Mo - Finding A Professional

Division of Assets

A 1988 law, commonly known as the "Spousal Impoverishment Law", was passed by Congress. This law, which is often referred to as the "Spousal Impoverishment Bill", was meant to prevent married couples having to lose all of their assets before one of them could qualify for nursing home Medicaid. The "Community Spouse" can retain a portion of the couple’s resources while the "Institutionalized Spouse", who is eligible for Medicaid, can receive benefits.

Congress also set limitations on the assets that the Community Spouse can keep if the Institutionalized Spouse wants to receive benefits. These limits are often referred to as Community Spouse Resource Allowances (CSRA). The Missouri Community Spouse can retain $25,728 to $128,640.00 for 2020. This amount will be adjusted each year for inflation or the cost to live. Missouri Medicaid allows for a Division of Assets to be used to determine how much the Community Spouse is allowed to keep.

The Division of Assets begins on the day that the Medicaid applicant is admitted to a hospital or nursing home for at most 30 consecutive days. The spouses' countable assets (which does not include a small amount of assets that may be exempt) is divided into two. Each spouse gets their share. It doesn't matter which spouse owns the asset. The couple's assets will be combined to determine the Division of Assets. This means that assets will be reduced for the spouse with more assets. It is crucial to consult an Elder Law lawyer to help you navigate this process. This will ensure that everyone's rights are protected. According to the Wall Street Journal, 86% are living below the poverty level due to having to pay for their spouse's care costs.

Elder Law Medicaid Planning In St. Joseph Mo - How to Choose

People Also Asked:

  • What is the difference between will and estate planning?
  • What is involved in estate planning?
  • When should I start estate planning?
  • Can I do my own estate planning?
  • What should you never put in your will?
  • Is it better to have a will or a trust?
  • What are the disadvantages of a trust?
  • Do I need a will or an estate plan?
  • How much should I expect to pay for estate planning?
  • How do I protect my assets from nursing home?
  • At what age should you set up a trust?
  • At what age should you create a trust?
  • Can I put my house in a trust without a lawyer?
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As an example, suppose John and Mary are married and have $300,000 in assets. John is demented and needs nursing home care. The Medicaid caseworker will assign the $300,000. in financial assets to Mary and attribute $128.640 to Mary as her CSRA. John is credited $171,360. John must also have less than $5,000 to be eligible. John's assets must be paid down by the family, who will then have to spend $166.360. John and Mary will now be told to spend $55,360 of their savings each year before John is eligible for Medicaid. This reduction in assets means that 86% surviving spouses are at risk of living below the poverty level due to the spouse's medical bills.

John and Mary won't have to use any of the savings they have if they do their planning in a timely manner with the help and assistance of G. Brent Powers (Medical Asset Protection attorney). Avoid costly, unplanned spenddowns by using the right legal strategies and documents.

But what if planning wasn't done in advance? Do you think all is lost? The good news is that the answer to this question is "no". Mary could still retain nearly all her assets through the use of a "Marital Medicaid compliant Annuity", even though John is currently in a nursing home. G Brent Powers is a professional with the necessary experience and expertise to make sure Mary doesn't become homeless.

Brent always makes time to meet in person with clients before presenting or applying for a court appearance.

Best Elder Law Medicaid Planning In St. Joseph Mo

Real Estate / Deeds

As people age, they start to think about how to transfer their property, farmland or other assets to their loved ones. Others may require help selling real estate, even without the assistance of an agent or broker.

Elder Law Medicaid Planning In St. Joseph MoG. Brent PowersEvery family's situation must be assessed to determine the best course of action. Do you think there are benefits to gifting your property to your kids now? What happens when you or your spouse need long-term, or nursing home care. What living trust would be the best? What are the tax implications of transferring property? Can the property owner finance its sale?

Brent has assisted hundreds of families over the years to make the right decision when they are transferring a house, farm, or other property.

Estate Planning

Proper estate planning is about maintaining control over your assets while you live, continuing to provide care for your loved ones even if you are incapacitated or disable, and distributing your property after you die to who you want, when and how you want it, at the lowest possible cost.

Planning should consider the needs of you and your family. Only then can we identify and use the appropriate documents and strategies to ensure that your planning will be as successful as possible.

Brent can help with additional advice and assistance, as well as helping you establish a suitable estate plan.

Where to find Elder Law Medicaid Planning In St. Joseph Mo

Administration of trusts

Brent is available to help you determine the best way for your affairs to be managed. This will prevent future problems, unnecessary expenses, and skill gaps.

Brent Powers is a Saint Joseph, Missouri-based lawyer who has been practicing since 1980.

Although he began his career in the courtroom as a trial advocate, he changed to Elder Law due to the need of his parents, his older clients, and numerous referrals.

He served as the President of the Saint Joseph Bar Association. He also served on numerous community boards and took part in many events sponsored or organized by the Saint Joseph Bar Association in order to assist people in need of sound legal advice.

Brent is a native Missourian, having grew to be a Saint Josephian.

He graduated from Central High School and received his undergraduate degree at the University of Missouri-Columbia. He then earned his law degree in Missouri – Kansas City.

He is an active member of the National Academy of Elder Law Attorneys

These national organizations offer education, training, as well as a national network for expertise to assist senior citizens and those with special needs.

 

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