Probate Law Attorney In St. Joseph Mo – Tips For Finding A Good Company

  

 

G Brent Powers Law Office
3715 Beck Rd D-401, St Joseph, MO 64506
Q5QW+6R St Joseph, Missouri
18162330257
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Straight From The Source Medicaid Trust In St. Joseph Mo

We will help you and all your family members make informed decisions regarding Elder Law matters such as Medicaid planning, estate planning, asset protection, and nursing home planning. Each person has a different path to reach their “golden years”, which unfortunately has become increasingly complicated over time. Our firm prides itself in providing customized solutions for our clients. 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. Click here for Bonuses

Elder Law

Elder Law is a specialty that helps seniors and provides guidance. 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 includes these and many other areas that concern 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 wish to become a burden for their family or society.

Probate Law Attorney 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. 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. 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 can be eligible for Medicaid or how their spouse and family can benefit from it. It is important to find a skilled and dedicated Nursing Home Attorney who is committed to helping families.

Many families have saved thousands of dollars by using Brent’s 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 you hear from others about nursing home Medicaid are well-meaning, but they are almost always wrong.

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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.

Probate Law Attorney In St. Joseph MoIt is vital to understand legal protections available to the spouse and loved ones of nursing home residents. 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.

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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 often referred to as Community Spouse Resource Allowances (CSRA). The Missouri Community Spouse can retain $25,728 to $128,640.00 for 2020. This amount is adjusted every year to reflect inflation and costs of living. Missouri Medicaid’s Division of Assets process determines the maximum amount that the Community Spouse may 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. 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. It is crucial to consult an Elder Law lawyer to help you navigate this process. This will ensure that everyone’s rights 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.

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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 also have less than $5,000 to be eligible. The family will be asked to spend $166,360 on assets that John has been attributed. John and Mary will then be asked to spend 55% on their savings in order for John to become eligible 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 wouldn’t need to spend any of their savings if they had a proper plan and were assisted by a qualified Medicaid Asset Protection attorney like 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 you didn’t plan ahead? Are all your hopes lost? It is not over. 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 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.

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Real Estate / Deeds

As people grow older, they begin to think about how best to transfer their home, farmland, or other properties to their loved ones or others. Others may need assistance with selling property without the aid of a broker.

Probate Law Attorney In St. Joseph MoG. Brent PowersEvery family’s situation must be assessed to determine the best course of action. Are there any benefits to gifting property now to your children? What happens if your spouse is in need of long-term nursing home or long-term care? Is a living estate the best option? What tax consequences will you face if your property is transferred? Can the property owner finance its sale?

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 Probate Law Attorney In St. Joseph Mo

Administration of trusts

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

Since 1980, Brent Powers has been practicing law in Saint Joseph and Northwest Missouri.

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 is a Central High School graduate, earned his undergraduate degree from Missouri – Columbia and then received his law degree from Missouri – Kansas City.

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.

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