Nursing Home Medicaid St. Joseph Mo - 3 Tips For

Published Oct 19, 21
7 min read

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
18162330257
https://gbrentpowerslaw.com/

Nursing Home Medicaid St. Joseph Mo



Nursing Home Medicaid St. Joseph Mo 

We are here to help you, your family, make informed decisions and plan on Elder Law topics such as Medicaid planning, estate and asset protection. 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. Click here for Check Out The Post Right Here Nursing Home Medicaid St. Joseph Mo

Elder Law

Elder Law is a special practice that assists seniors with their legal issues. As we age, we are faced with many new issues, including housing, retirement, wealth transfer, and long-term nursing. Elder Law covers these and many other concerns that elderly people face.

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 their children, families, or society to feel like a burden.

Nursing Home Medicaid 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 can help you create a plan that suits your needs and learn more about Elder Law.

Nursing Home Medicaid Planning. It is never too early to plan for Medicaid or 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 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.

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. While most of the information you hear about nursing home Medicaid is accurate, it's almost always incorrect.

Affordable Nursing Home Medicaid St. Joseph Mo

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

Your loved one may still be eligible to receive Medicaid assistance after they have moved into a nursing care facility.

Nursing Home Medicaid St. Joseph MoIt is vital to understand legal protections available to the spouse and loved ones of nursing home residents. People often fear that their loved one or spouse will move into a nursing home, and they may lose their home and financial savings. We can almost always insure that this won't happen to you.

There are many financial safeguards available for couples and elderly without jeopardizing Nursing Home Medicaid eligibility.

Nursing Home Medicaid St. Joseph Mo - Finding A Professional

Division of Assets

A 1988 law, commonly known as the "Spousal Impoverishment Law", was passed by Congress. This law, which is often referred to as the "Spousal Impoverishment Bill", was meant to prevent married couples having to lose all of their assets before one of them could 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 established limits on how many assets the Community Spouse can retain if an Institutionalized Spouse is to be eligible to benefits. These limits are known as the Community Spouse Resource Allowance, (CSRA). 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. 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 begins on the day that the Medicaid applicant is admitted to a hospital or nursing home for at most 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 assets of the spouse with significantly more assets will be reduced. This is why it is important to work with an Elder Law attorney to ensure everyone's best interests 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.

Nursing Home Medicaid St. Joseph Mo - How to Choose

People Also Asked:

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  • How do I protect my assets from nursing home?
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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 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 then be asked to spend 55% on their savings in order for John to become eligible for Medicaid. A reduction of the assets of the Community Spouse of this magnitude will mean that 86% of the surviving spouses will live below the poverty line because of the spouse's medical expenses.

John and Mary will not have to spend down any of their life savings if they plan properly and promptly with the help of G. Brent Powers, a qualified Medicaid Asset Protection lawyer. It is crucial to plan ahead and use the correct legal documents and strategies to avoid a costly and embarrassing situation.

But what if planning wasn't done in advance? Do you think all is 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 has both the expertise and experience to ensure Mary's safety and prevent her from becoming homeless.

Brent always makes time to meet in person with clients before presenting or applying for a court appearance.

Best Nursing Home Medicaid St. Joseph Mo

Real Estate / Deeds

As they age, people think about how to best transfer their house, farmland, and other properties to loved ones. Others may need assistance with selling property without the aid of a broker.

Nursing Home Medicaid St. Joseph MoG. Brent PowersTo find the best path for each family, it is important to assess their individual circumstances. Is there a benefit to gifting property to children now? What happens if your spouse requires long-term or nursing home care? A living trust is the best choice? What tax consequences will you face if your property is transferred? 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 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.

Proper planning should take into consideration your and your family’s unique needs and assets. Only then will we be able to determine the right documents and strategies that can be used to make sure your planning is as effective 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 Nursing Home Medicaid St. Joseph Mo

Administration of trusts

Brent can help you decide the best way 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 has been president of Saint Joseph Bar Association.

Brent is a native Missourian and 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.

 

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