Elder Law

Medicaid Planning, long term care planning, guardianship, conservatorship, nursing home cost, assets

Medicaid Planning and Long Term Care

You've planned for your retirement and your funeral. But, have you prepared for potential long term care?

You’ve worked hard your whole life. You’ve saved and sacrificed and now all the steps you've taken to protect your legacy will be undermined by your need for long term care. The medical professionals have advised skilled nursing and there is no alternative. The average cost of a private room at an American nursing home is $10,025 in 2024. What are your options?

The fear and unknown are overwhelming.

Let us help. Our experienced elder law attorneys can be your guide and advocate through this difficult time to help you shield as many assets as possible while helping you or your loved one get the needed care.

This type of planning goes by different names, Medicaid asset protection planning, crisis Medicaid planning and long-term healthcare planning. We will advise you of your options and help you take advantage of solutions available to you.

We will help you prepare to apply for Medicaid nursing home benefits as quickly and easily as possible while shielding as many assets as possible.

VA Pension Planning

VA Aid and Attendance or Housebound benefits provide monthly payments added to the amount of a monthly VA pension for qualified Veterans and survivors. If you need help with daily activities, or you’re housebound, contact our firm to find out if you qualify.

You may be eligible for this benefit if you get a VA pension and you meet at least one of these requirements.

At least one of these must be true:

You need another person to help you perform daily activities, like bathing, feeding, and dressing, or
You have to stay in bed—or spend a large portion of the day in bed—because of illness, or
You are a patient in a nursing home due to the loss of mental or physical abilities related to a disability, or
Your eyesight is limited (even with glasses or contact lenses you have only 5/200 or less in both eyes; or concentric contraction of the visual field to 5 degrees or less)

We will help you prepare to apply for VA Aid and Attendance or Household benefits as quickly and easily as possible while shielding as many assets as possible.

Special Needs Planning

A special needs trust — also referred to as a supplemental needs trust or SNT — is a type of trust that’s set up for people with disabilities or access and functional needs. It helps provide individuals with financial support without disqualifying them for government benefits, such as Medicaid or Supplemental Security Income (SSI).

Needs-based government benefits have specific income and asset requirements that, if an individual surpasses them, can disqualify them from receiving the assistance they need. That means, if you have a child or loved one with a disability, supporting them financially can be difficult to do without impeding their ability to receive government benefits.

By allocating funds and other assets to a trust, you’ll be able to provide help without counting those contributions toward their personal income. Like other trust accounts, a special needs trust includes a grantor (who establishes the fund), a trustee (who manages the account), and a beneficiary (who receives the benefits).

Guardianship and Conservatorship

Guardianship is a legal process which protects an incapacitated person: “one who is unable by reason of any physical or mental condition to receive and evaluate information or to communicate decisions to such an extent that he [or she] lacks capacity to meet essential requirements for food, clothing, shelter, safety or other care such that serious physical injury, illness, or disease is likely to occur.” [RSMo 475.060]

Conservatorship protects the rights of those individuals who are unable to manage their financial resources due to being a disabled person: “one who is unable by reason of any physical or mental condition to receive and evaluate information or to communicate decisions to such an extent that the person lacks ability to manage his [or her] financial resources.” [RSMo 475.061]

The process begins when a “petitioner” files an application for the appointment of a Guardian and/ or Conservator in the probate division of the circuit court in the county in which the alleged incapacitated or disabled person (the “respondent”) resides.

The petitioner and the respondent must be represented by attorneys. The court will appoint an attorney for the respondent if they cannot afford an attorney.

The judge will make a decision on the capabilities of the respondent, and rule on the degree of supervision necessary for the protection of the respondent. The court issues letters appointing either full or limited Guardianship and/or Conservatorship.

Estate Recovery

Throughout your life, you may acquire substantial assets that you hope will support you as you age or that will allow you to provide for your loved ones after you are gone.

Unfortunately, you’re uniquely vulnerable to losing these assets as you age because nursing home care is expensive and not covered by Medicare or most insurers in the majority of circumstances.

An asset protection lawyer can help you to understand the steps you need to take to protect your wealth as you grow older. This could involve making a Medicaid plan so you can qualify for Medicaid nursing home coverage without spending down your assets.