Estate Planning In St. Joseph Mo - 6 Tips To Find The Right One

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. Our individual paths to our "golden year" are different. Unfortunately, it has become more difficult over the years. Our firm prides itself on offering unique planning and solutions tailored to our clients' needs. Contact us today if you have questions concerning your home, farm and real estate deeds. Click here for Why Not Find Out More Estate Planning In St. Joseph Mo

Elder Law

Elder Law is a special practice that assists seniors with their legal issues. As we get older, we have to deal with many different issues. Elder Law addresses these and other issues that affect the elderly.

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.

Estate Planning In St. Joseph Mo

Brent's thoughtful and professional advice has given peace of mind for thousands of families in Saint Joseph, Northwest Missouri. Over 30 years of experience in working with senior citizens to create estate plans, real property transfers, deeds.

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 plan for long term care, and they are often misinformed about the process of Medicaid. Many families don't know who is eligible for nursing home Medicaid planning or how it can benefit them or their family. It is crucial to hire a nursing home attorney who has experience and is committed 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 most of the information you hear about nursing home Medicaid is accurate, it's almost always incorrect.

Affordable Estate Planning In St. Joseph Mo

It is almost never too late or too early 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 important to understand the legal strategies and protections for spouses and families of residents in nursing homes. Many people fear losing their home and savings if the spouse or loved one is forced to move to a senior living facility. This is almost impossible to prevent in most cases.

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 "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. 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.

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). 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 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 the spouse who has more assets than their spouse will see their assets decrease. Working with an Elder Law lawyer in this process is crucial in order to protect everyone's interests. According to the Wall Street Journal, 86% are living below the poverty level due to having to pay for their spouse's care costs.

Estate Planning In St. Joseph Mo - How to Choose

People Also Asked:

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Consider John and Mary, a married couple, with $300,000 of financial assets. John suffers from dementia and requires nursing home services. The Medicaid caseworker assigns the $300,000 worth of financial assets to Mary, who will then CSRA $128,640 and John $171,360. John must have less that $5,000 to be eligible for Medicaid. John will tell his family to spend $166.360 of John's assets. 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. Avoid costly, unplanned spenddowns by using the right legal strategies and documents.

But what if the planning was not perfected in time? Are all your hopes lost? The answer 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 has all the experience and expertise necessary to ensure Mary is not left behind.

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 people age, they start to think about how to transfer their property, farmland or other assets to their loved ones. Others might need assistance selling real property without a broker.

Estate Planning In St. Joseph MoG. Brent PowersTo determine the best course of action, each family's circumstances must be assessed. 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? How do you tax the transfer of your 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 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.

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 assist you in setting up an appropriate estate plan.

Where to find Estate 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 has been a practicing lawyer in Saint Joseph, Missouri and Northwest Missouri since 1980.

His career started as a trial-lawyer. But, due to the needs of his parents and many referrals, he transitioned into Elder Law, Medicaid nursing facility 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 from Northwest Missouri, and he grew up near Saint Joseph.

He is a Central High School grad, who received his undergraduate degree and his law degree from the University of 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 provide education and training as well as a network of experts for member attorneys in order to assist seniors and people with special disabilities.

 

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