Among the most common misconceptions about estate planning is that it is simply a way to pass assets on to heirs after death and minimize estate taxes. While this is part of the story, a sound estate plan can help you accomplish much more and provide numerous benefits to you and your loved ones while you are alive, including:
Planning ahead will always be the best option when it comes to thinking about the challenges that the future has in store for you. No matter how health or economic realities fare or how business climates change, you can insulate your net worth by having the right estate planning partners with you. Trust us always to be on the level with you in matters related to the following:
We are here to provide you with counsel and representation regarding critical life planning decisions that may involve repositioning of assets. In such cases, we will:
Elder law encompasses a wide range of practice areas, including Medicaid planning, estate planning, asset protection, and much more. While every one of our clients comes to us with a unique set of goals and concerns in this area, we have seen that some of the more common questions include:
We can help you find answers to these questions and other related concerns. Whether you are a senior or a family member concerned about the well-being of an elderly loved one, we are here to assist you.
We can show you ways to obtain assistance from Medicaid without spending all your income or giving up the majority of your assets. Moreover, we can provide you with a number of ways to prepare for the possibility of incapacity and the need for long-term care. We make this possible by using powerful tools such as promissory notes, life estates, annuities, trusts, and other similar documents.
This plan is for people who are physically healthy but want to make sure that if they do become incapacitated, they will have a plan in place to protect their life savings.
Estate plans allow individuals and families to protect their assets and adequately manage their personal and financial affairs in the event of incapacity.
Having a well-rounded plan in place designed by a firm that focuses on elder law ensures that you will be well cared for if you become incapacitated. This also helps you enjoy greater peace of mind.
We define a Medicaid crisis as a situation in which a person has already been admitted to a nursing home, or will be in the very near future, and been informed that they own too many assets to qualify for Medicaid assistance.
Many individuals have received information such as this from nursing home intake staff, social workers, Medicaid workers, and other well-meaning professionals. However, this analysis of the situation is often incorrect. The fact is few healthcare professionals fully understand the subtle nuances and ever-changing details of laws governing Medicaid eligibility. We do. Do not despair. We are here to help you!
We are committed to providing all-inclusive plans for families with special needs individuals. If you are raising a child with a physical, mental, or developmental disability, we understand what you are going through. We can help you cope with the many financial, social, and medical issues involved.
You can depend on us to show you ways to obtain the assistance you need now, and make sure that your child with special needs will be well cared for after you are gone or are no longer able to serve as the primary caregiver. We can also alleviate your concerns about protecting your child’s eligibility for Medicaid, SSI, and other government benefits.
Furthermore, we can assist you in finding residential options and the means to finance your special needs children. We can also help you in addressing the planning needs of your other family members.
We take a highly personalized approach to help you accomplish goals like these. We begin by listening closely to you so that we can gain a thorough understanding of your top priorities and overall family objectives.
Afterward, we analyze your current financial situation to determine what benefits are available in light of your specific situation. We will assess what legal strategies we can use to maximize these benefits today, preparing for the future care of your child with special needs.
Finally, we will use our experience, knowledge of the law, and close relationships with numerous private and public agencies to secure your financial assistance and implement your plan.
Also known as supplemental needs trusts, special needs trusts are one of the most powerful tools we can put to work on your behalf. While there are many different types of special needs trusts, they generally seek to maintain a child with special needs eligibility for means-tested government assistance programs, including Medicaid and Supplemental Security Income (SSI).
At the same time, special needs trusts create a fund to supplement the services and/or care not provided by means-tested programs.
It is important to remember that the care requirements for a special needs child change over time. The financial resources of the special needs child’s family, as well as the laws governing eligibility and the available benefits, may also change.
A well-made special needs trust and overall special needs plan must take into account the possibility of such changes. This is why they should only be created by an experienced special needs planning attorney.
These legal proceedings occur when an adult can no longer make or communicate safe or sound decisions about his or her person and/or assets. The individual may also become susceptible to fraud or undue influence, leaving them vulnerable to scam artists or identity thieves.
Guardianship offers protection and care for adults with dementia, mental illness, or other types of mental impairment.
When a person is unable to make informed decisions for himself or herself due to mental incapacity, whether those decisions involve health care or finances, someone else needs authority to assume responsibility for that person's affairs. Unless the individual has a pre-existing legal authority to act, the court must be asked to appoint another person to assist.
One of our top priorities is to guarantee that our nation’s veterans receive all the benefits they deserve. Unfortunately, many veterans are unaware of the benefits available to them or have been denied benefits in the past. We are dedicated to addressing these wrongs.
Glen is passionate about helping all eligible veterans obtain benefits promptly and with minimal stress. One of the most important, but sadly underutilized, of these benefits is the Aid and Attendance program.
This program is available to veterans who need help with basic daily activities such as eating, bathing, and dressing. Aid and Attendance benefits can be paid to a person outside the home, including family members or the veteran’s spouse if he or she provides necessary care.
However, if the benefits are paid to the spouse, the funds are considered income in determining eligibility for the Aid and Attendance program. If you are eligible, you can use the finances in any manner you wish, including to care for your spouse.
Importantly, if you are eligible for Medicaid, you do not need to use the aid and attendance benefit for your nursing home care. Other benefits available to eligible veterans include:
To be eligible for veterans’ benefits, you must have a minimum of 90 days of active military service, with at least one of those days taking place during a period of war. You may also be eligible if they are suffering from a permanent and total disability or are at least 65 years old and are receiving social security benefits. In addition, your net worth and income must fall within certain limits.
To anticipate change is to know fully well how health and fortunes may be impacted by many economic factors yet to take place. You can provide your family with the financial security that they need in the future when circumstances require them to make decisions on their own. With an estate plan developed way ahead, you may now take all the time to rediscover the “wonder years.”
5 Westowne Street, Suite 501
Liberty, MO 64068
717 E. South Street
Richmond, MO 64085