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
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From This Source Nursing Home Medicaid Lawyer 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 on offering unique planning and solutions tailored to our clients' needs. We are available to answer any questions you may have about your home, farm or real estate deeds. Click here for Blog Here

Elder Law

Elder Law, a speciality practice that aids seniors in their legal matters, is new_paragraph. As we age, we are faced with many new issues, including housing, retirement, wealth transfer, and long-term nursing. Elder Law addresses these and other issues that affect the elderly.

Many elderly citizens fear they might lose their home, savings and everything that they have worked so hard to earn. They don’t want the burden of being a burden on their families 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. 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 will help you to create an Elder Law plan. Call Brent today.

Nursing Home Medicaid Planning It's never too late to begin planning for Medicaid and long term care. Many people are not planning for long-term health care and are frequently misinformed on how Medicaid works. Many families do not know who is eligible and how planning for nursing home Medicaid can help their spouse or loved ones. 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, as a Nursing Home Lawyer, would recommend the following key points regarding Medicaid:Brent, a lawyer for nursing homes, has some tips to help you remember the basics of Medicaid. Most of what you hear from others about nursing home Medicaid are well-meaning, but they are almost always wrong.

Affordable Elder Law Medicaid Planning In St. Joseph Mo

It is almost never too soon or too late for planning.

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

It's crucial to know the legal protections and strategies available for the spouse and their family members of a resident in a nursing home. People often fear that their loved one or spouse will move into a nursing home, and they may lose their home and financial savings. We can almost always insure that this won't happen to you.

Many financial protections are available to elderly couples and individuals without jeopardizing Nursing Home Medicaid eligibility.

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

Division of Assets

The "Spousal Impoverishment" Act was passed by Congress in 1988. It was intended to prevent married couples from having to spend all their assets before one spouse is eligible for nursing home Medicaid. As a result, the "Community Spouse", the spouse who remains at home, is allowed to keep a portion of their resources and the spouse who needs Medicaid (the “Institutionalized Spouse”) can get benefits.

Congress set limits on the assets that the Community Spouse may retain if the Institutionalized Spouse becomes eligible for benefits. These limits are known as the Community Spouse Resource Allowance, (CSRA). Missouri's Community Spouse may retain at most $25,728 or $128.640.00. This amount is adjusted for inflation each year and changes in the cost of living. Missouri Medicaid's Division of Assets process determines the maximum amount that the Community Spouse may 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 couple's countable assets are divided into 2 with each spouse receiving their one-half. 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 assets will be reduced for the spouse with more assets. This is why it is important to work with an Elder Law attorney to ensure everyone's best interests are protected. The Wall Street Journal recently reported that 86% widows don't have enough income to cover the costs of caring for their spouses.

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

As an example, consider John and Mary as a married couple. John has $300,000 worth of assets. John has dementia. Mary requires 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 have less $5,000 to qualify for Medicaid. The family will be asked to spend $166,360 on assets that John has been attributed. John and Mary will be told that John must spend 55% their lives' savings before John can apply for Medicaid. It is easy to see why 86% of spouses who survive are living below poverty line due to their spouse's medical costs.

John and Mary don't have any need to spend their entire life savings if they are able to plan well and get the advice of an experienced Medicaid Asset Protection attorney, such as G. Brent Powers. It is crucial to plan ahead and use the correct legal documents and strategies to avoid a costly and embarrassing situation.

What if there was no planning? All hope is lost Is it all over? 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 all the experience and expertise necessary to ensure Mary is not left behind.

Brent is always available to meet with clients before they apply or appear in court.

Best Elder Law Medicaid Planning In St. Joseph Mo

Real Estate / Deeds

As they age, people think about how to best transfer their house, farmland, and other properties to loved ones. Some people may require assistance in selling real estate without the help of a broker or agent.

Every family's situation must be assessed to determine the best course of action. Is it possible to gift property to your children right away? What happens if your spouse requires long-term or nursing home care? A living trust is the best choice? What are the tax implications of transferring property? Are you allowed to finance the purchase of your property by an owner?

Over the years, Brent has helped many families make the right decisions when it comes to transferring their home, farm, and business properties.

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.

Proper planning requires that we consider the unique needs of your family and their assets. Only then, can we decide which documents and strategies are needed to make your planning work.

Brent can also help you to create a proper 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 was a lawyer in Saint Joseph since 1980.

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 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 and 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 member of both the National Academy of Elder Law Attorneys as well as the National Organization of Social Safety Claimants Representatives.

These national organizations offer training, education, and a national network to support senior citizens and persons with special needs.