Estate Planning In St. Joseph Mo - Finding A Professional

Published Jun 17, 22
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
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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 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.

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Elder Law

Elder Law is a specialist practice that offers senior citizens guidance and help with their legal needs. 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 want to be a burden to their children, family, and society.

Estate Planning In St. Joseph Mo

With his thoughtful and skilled advice, Brent has brought peace of mind to thousands families in Saint Joseph and Northwest Missouri. 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 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 is eligible, or how they can benefit from nursing home Medicaid planning. It is important that you choose a Nursing Home Attorney who has the experience and is dedicated helping families.

Brent has helped many families save thousands of dollar through effective nursing home Medicaid planning. As a Nursing Home Lawyer, Brent would advise a few key things to remember when it comes to Medicaid - Brent, a nursing home lawyer, would recommend a few key points to remember about Medicaid. Most of what people tell you about nursing facility Medicaid is not accurate.

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

Even if your loved one moves to a nursing facility, they can still be eligible for Medicaid assistance.

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. We can almost always insure that this won't happen to you.

Numerous financial safeguards can be provided for seniors and couples, without jeopardizing Nursing Home Medicaid eligibility.

Estate Planning In St. Joseph Mo - Finding A Professional

Division of Assets

1988 was the year Congress passed the "Spousal ImpoverishmentAct". This law was, despite its title, designed to prevent married couples from having their entire financial assets expended before one of them can qualify 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 also set limitations on the assets that the Community Spouse can keep if the Institutionalized Spouse wants to receive benefits. These limits are also known as the Community Spouse Resource Allowance. Missouri's 2020 Community Spouse Resource Allowance (CSRA) allows for a minimum of $25,728 and a maximum amount of $128.640.00. This amount is adjusted for inflation each year and changes in the cost of living. The Division of Assets is the process Missouri Medicaid uses to determine the amount that the Community Spouse can keep within the range.

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 marital couple's countable assets, which excludes very few assets that are exempt, are divided into two and each spouse is given their half. 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 a spouse with significant assets will have their assets reduced. Working with an Elder Law lawyer in this process is crucial in order to protect everyone's interests. According to a Wall Street Journal article, 86% live below poverty level because they have to pay for the care of their spouses.

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Let's say John and Mary have $300,000. John has dementia 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 have less $5,000 to qualify for Medicaid. John's assets must be paid down by the family, who will then have to spend $166.360. John and Mary will be told that John must spend 55% their lives' savings before John can apply 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). 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 The answer is no. Mary can retain most of her financial assets, even if John is incapacitated. Mary could use a "Marital Medicaid Compliance Annuity" to help her. G Brent Powers is a professional with the necessary experience and expertise to make sure Mary doesn't become homeless.

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

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Real Estate / Deeds

As they age, people begin to consider how to best transfer their farmland, home, or other property to their loved ones. Others may need assistance with selling property without the aid of a broker.

Estate Planning In St. Joseph MoG. Brent PowersEvery 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 you need long-term care or nursing facility care? What is the best option? What tax implications will a transfer of property have? 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 means maintaining control of your assets while living, continuing to provide for your care and your loved ones, even if incapacitated or disabled, distributing your property after your death to whom you want, when you want and the way you want at the lowest overall 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.

Along with helping you set up an appropriate estate plan, Brent can help you with further advice on: Brent is available to help you create an estate plan.

Where to find Estate Planning In St. Joseph Mo

Administration of trusts

Brent is available to assist you in determining the best way of handling your affairs.

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 has been president of Saint Joseph Bar Association.

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 an active member of the National Academy of Elder Law Attorneys

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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