Nursing Home Medicaid St. Joseph Mo – 10 Tips For Choosing The Best Company
Where Can I Find Nursing Home Medicaid 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
Company Website – Nursing Home Medicaid 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. Every person is on a unique journey towards their “golden” years. Unfortunately, the process has become more complicated with each passing year. Our firm prides themselves on providing unique solutions and planning that are tailored to each client’s needs. Please contact us today to discuss your questions regarding your home and farm, real property deeds, power-of- attorney, trusts/vs. wills probate vs. not-probate transfers, or long-term issues.
Elder Law is a specialty that helps seniors and provides guidance. 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 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.
Nursing Home Medicaid 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 can help you create a plan that suits your needs and learn more about Elder Law.
Nursing Home Medicaid Planning. It’s never too late to begin planning for Medicaid and long term care. Many people are unaware of the benefits of Medicaid and have not planned for it. Many families don’t know who is eligible for nursing home Medicaid planning or how it can benefit them or their family. It is important to find a skilled and dedicated Nursing Home Attorney who is committed to helping families.
Through effective nursing home Medicaid planning Brent has helped many families in our community save hundreds of thousands of dollars. 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 late or too early to plan.
Even if your loved one moves to a nursing facility, they can still be eligible for Medicaid assistance.
It 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.
Numerous financial safety nets are available for both couples and seniors without jeopardizing Nursing Home Medicaid eligibility.
Nursing Home Medicaid 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 “Community Spouse” can retain a portion of the couple’s resources while the “Institutionalized Spouse”, who is eligible for Medicaid, can 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 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 every year to reflect inflation and costs of living. Missouri Medicaid allows for a Division of Assets to be used to determine how much the Community Spouse is allowed to keep.
The Division of Assets starts on the day the Medicaid applicant is admitted for at least 30 consecutive nights to a hospital/nursing facility. 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 assets of the spouse with significantly more assets will be reduced. 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% of widows are below the poverty line due to the cost of caring for their spouses.
Nursing Home Medicaid St. Joseph Mo – How to Choose
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 $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. If the Community Spouse’s assets are reduced by this amount, it’s easy to see how 86% end up living below poverty due to their spouse’s health care expenses.
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). You can avoid an unpleasant and costly situation by making sure you have the right legal strategies in place.
What if you didn’t plan ahead? Can all hope be 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 is a professional with the necessary experience and expertise to make sure Mary doesn’t become homeless.
Brent makes every effort to meet with clients personally before he applies or appears in court.
Best Nursing Home Medicaid St. Joseph Mo
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 require help selling real estate, even without the assistance of an agent or broker.
To determine the best course of action, each family’s circumstances must be assessed. 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? What living trust would be the best? What tax implications will a transfer of property have? Is it possible for the owner to finance the sale?
Brent has assisted hundreds of families over the years to make the right decision when they are transferring a house, farm, or other property.
Proper estate plan means maintaining control over your assets, continuing to provide for you and your loved ones even when you’re incapacitated, and distributing your property to the beneficiaries you desire at the lowest possible 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 also help you to create a proper estate plan.
Where to find Nursing Home Medicaid St. Joseph Mo
Administration of trusts
Brent will help you to determine the best method to manage 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 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. He received his undergraduate and law degrees at the University of Missouri.
He is an active member of the National Academy of Elder Law Attorneys
These national organizations offer training, education, and a national network to support senior citizens and persons with special needs.