Estate Planning In St. Joseph Mo - How To Find The Best Company

Published Oct 19, 21
7 min read

Where Can I Find Estate 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/

Estate Planning In St. Joseph Mo



Estate 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. Each person has a different path to reach their "golden years", which unfortunately has become increasingly complicated over time. Our firm prides itself in providing customized solutions for our clients. We are available to answer any questions you may have about your home, farm or real estate deeds. Click here for Click Site Estate Planning In St. Joseph Mo

Elder Law

Elder Law is a special practice that assists seniors with their legal issues. As we age, many issues arise that are not common in our younger years. These include housing, long-term care, wealth transfers and retirement. Elder Law covers these and many other concerns that elderly people face.

Many elderly citizens fear they might lose their home, savings and everything that they have worked so hard to earn. They don’t want to be a burden to their children, family, and society.

Estate 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. With over 30 years experience, he can assist clients in developing estate plans, property transfers, deeds probate, power-of- attorney, trusts and other legal needs of senior citizens.

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

Nursing Home Medicaid Planning. Planning for Medicaid and long-term care is a good idea. This is especially true if a parent or spouse may require nursing home care. Many people don't know how Medicaid works and haven't planned for long-term care. Many families don’t know who is eligible, or how they can benefit from nursing home Medicaid planning. It is important to find a skilled and dedicated Nursing Home Attorney who is committed to helping families.

Brent has helped many families save thousands of dollar through effective nursing home Medicaid planning. Brent is a licensed nursing home lawyer and would like to share some key points about Medicaid. Most of what you hear from others about nursing home Medicaid are well-meaning, but they are almost always wrong.

Affordable Estate Planning In St. Joseph Mo

It's almost never too early or too late to plan.

You can still get Medicaid assistance for your loved one even if they move to a nursing home.

Estate 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 fear losing their home or life savings if their spouse/loved one moves into a nursing facility. In most cases, we can guarantee that this will not happen.

There are many financial safeguards available for couples and elderly without jeopardizing Nursing Home Medicaid eligibility.

Estate Planning In St. Joseph Mo - Finding A Professional

Division of Assets

The 1988 "Spousal Impoverishment act" was passed by Congress. It was intended to prevent married people from having to give up all their assets in order to qualify for Medicaid nursing home Medicaid. The spouse who stays in the home (the "Community Spouse") is allowed to keep some of their resources while the spouse who requires Medicaid (the"Institutionalized Spouse") may receive benefits.

The law also established limits on the assets the Community Spouse can retain, if the Institutionalized Spouse will be eligible for benefits. These limits are often referred as the Community Spouse Resource Allowance or CSRA. Missouri's Community Spouse may retain at most $25,728 or $128.640.00. This amount is adjusted each year for inflation and the cost of living. Missouri Medicaid requires that a Division of Assets Application be completed in order to determine what amount the Community Spouse will be permitted to keep.

The Division of Assets takes effect on the first day of the Medicaid applicant's admission to a hospital/nursing house for at minimum 30 consecutive days. The countable assets of a married couple (which excludes some assets exempted) are divided in two, with each spouse getting their own one-half share. The Division of Assets does not consider the assets of any one of the spouses. Instead, all assets of the couple are combined. This means that a spouse with significant assets will have their assets reduced. This is why it is important to work with an Elder Law attorney to ensure everyone's best interests are protected. According to a Wall Street Journal article, 86% live below poverty level because they have to pay for the care of their spouses.

Estate Planning In St. Joseph Mo - How to Choose

People Also Asked:

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  • 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?
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  • 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 is going to allocate $300,000 in financial assets, and attribute $128.640 to Mary (as her CSRA) and $171.360 to John. John must also have less than $5,000 to be eligible. The family will be asked to spend $166,360 on assets that John has been attributed. 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 will not have to spend down any of their life savings if they plan properly and promptly with the help of G. Brent Powers, a qualified Medicaid Asset Protection lawyer. To avoid an expensive and regrettable situation, it is important to prepare the right legal documents and strategies.

But what if planning wasn't done in advance? All hope is lost The answer is no. Mary would be able to keep almost all of her financial assets even if John is now in a nursing care facility by using what is called a "Marital Medicaid Compatible Annuity". G Brent Powers has both the expertise and experience to ensure Mary's safety and prevent her from becoming homeless.

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

Best Estate Planning In St. Joseph Mo

Real Estate / Deeds

As they get older, many people start to think about how to transfer their home, farmland and other properties to their loved one or others. Others may need assistance with selling property without the aid of a broker.

Estate Planning In St. Joseph MoG. Brent PowersEach family's situation should be evaluated in order to determine the best course. Is there a benefit to gifting property to children now? What happens if your spouse is in need of long-term nursing home or long-term care? Is a living estate the best option? What tax consequences will you face if your property is transferred? Can the property owner finance its sale?

Brent has helped hundreds upon hundreds of families, over the years, make the right choice when it comes time to transfer a home or farm.

Estate Planning

Proper estate planning involves maintaining control of your assets and continuing to care for your loved ones. It also means that you can distribute your property after your death to the people you choose, whenever you wish, and at the lowest cost.

Proper planning should take into consideration your and your family’s unique needs and assets. Only then will we be able to determine the right documents and strategies that can be used to make sure your planning is as effective as possible.

Brent can assist you in setting up an appropriate estate plan.

Where to find Estate Planning In St. Joseph Mo

Administration of trusts

Brent will help you to determine the best method to manage your affairs.

Since 1980, Brent Powers has been practicing law in Saint Joseph and Northwest Missouri.

His career began as a trial attorney. However, due to his parents' needs and the many referrals, he moved to Elder Law, Medicaid nursing homes planning and Division of Assets.

He was the president of Saint Joseph Bar Association and volunteered for a number of community boards. He also participated in many events sponsored by Saint Joseph Bar Association to provide sound legal advice to people in need.

Brent is a native Missourian who grew up in Saint Joseph.

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 a National Academy of Elder Law Attorneys member and the National Order of Social Security Claimsants' Representatives.

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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