Estate Planning In St. Joseph Mo - the Best Tips For Choosing 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. Our individual paths to our "golden year" are different. Unfortunately, it has become more difficult over the years. Our firm prides themselves on providing unique solutions and planning that are tailored to each client's needs. If you have any questions regarding your farm, home, real estate deeds or power of attorney, trusts and wills, probate vs. unprobate transfer, long-term care, or trusts vs. Wills, please contact our firm today. Click here for More Bonuses 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 addresses these and other issues that affect the elderly.

Many seniors fear that they may lose their home, savings, or everything they have worked for all their lives if they need nursing home or long-term care. They don't want their children, families, or society to feel like a burden.

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. He has more than 30 years' experience working with clients to design estate plans and real estate transfers.

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 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, 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.

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. 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 is almost never too late or too early to plan.

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. People fear losing their home or life savings if their spouse/loved one moves into a nursing facility. This is almost impossible to prevent in most cases.

Many financial protections are available to elderly couples and individuals 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. 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 set limits on the assets that the Community Spouse may retain if the Institutionalized Spouse becomes eligible for benefits. These limits are also known as the Community Spouse Resource Allowance. The Missouri Community Spouse can retain $25,728 to $128,640.00 for 2020. 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 is calculated the first day a Medicaid applicant is admitted into a hospital/nursing home for at least 30 consecutive days. The couple's countable assets are divided into 2 with each spouse receiving their one-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 the spouse who has more assets than their spouse will see their assets decrease. To ensure everyone's protection, it is essential to work with an Elder Law lawyer during this process. 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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Let's say John and Mary have $300,000. John has dementia 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. 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). Avoid costly, unplanned spenddowns by using the right legal strategies and documents.

But what if the planning was not perfected in time? Can all hope be lost? The answer is no. Mary could retain almost all of her financial assets by using a "Marital Medicaid Compliant Anuity". Even if John is in a nursing facility, Mary can still use the Annuity. G Brent Powers has the knowledge and expertise required to ensure Mary's financial security.

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

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. Some people may require assistance in selling real estate without the help of a broker or agent.

Estate 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 if you need long-term care or nursing facility care? What is the best option? What tax implications will a transfer of property have? Is it possible for the owner to finance the sale?

Brent has assisted many families to make the right decisions in transferring their homes, farms, or businesses over the years.

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 must take into account your unique needs, wishes and assets. Only then can we decide what documents and strategies to use to ensure your planning works as you expect.

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

Where to find Estate Planning In St. Joseph Mo

Administration of trusts

Brent can help you decide the best way to manage your affairs.

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 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. He received his undergraduate and law degrees at the University of Missouri.

He is a member of National Academy of Elder Law Attorneys, and the National Organisation of Social Security Claimants’ 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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