Many people arrive at The Binder Firm after the unexpected has already happened. They have lost a loved one and have been named a personal representative (estate executor, estate administrator, or power of attorney). They have significant responsibilities to uphold when finalizing a loved one’s affairs, and they need guidance to make sure it is handled correctly.
Many issues may arise during the probate process. We handle every aspect of a distribution of assets from real estate issues and tax returns, to investing funds and probate administration. In the absence of a will, we can help find the heirs and accomplish the distribution according to intestate statutes. We have the experience and the knowledge to help untangle even the most complex probate proceedings.
Medicaid planning is a strategic process aimed at helping individuals qualify for Medicaid benefits while preserving as much of their assets and income as possible. This is particularly relevant for those seeking long-term care, such as nursing home services, which can be prohibitively expensive. Medicaid, a state and federal program, assists low-income individuals and families with medical costs, including long-term care, but eligibility requirements can be stringent.
Medicaid crisis planning is a specific subset of Medicaid planning that occurs when an individual faces an imminent need for long-term care services, typically due to a sudden medical condition, hospitalization, or health crisis. Unlike standard Medicaid planning, which is often done well in advance of needing care, crisis planning aims to quickly address the urgent situation to qualify for Medicaid benefits while attempting to preserve as many assets as possible.
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 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]
Let our experienced attorneys assist you through this process.
Long-term care planning refers to the process of preparing for future care needs that may arise due to aging, chronic illness, disability, or cognitive decline. This planning is essential for ensuring individuals receive appropriate care while preserving their financial resources and maintaining quality of life. Long-term care can encompass a variety of services, including assistance with daily activities (such as bathing, dressing, and eating), medical care, and support in residential settings like nursing homes or assisted living facilities.
Long-term care planning is an essential process that requires careful consideration of personal needs, financial resources, and legal factors. By proactively addressing these components, individuals can better prepare for future care needs, ensure their preferences are honored, and protect their financial legacy. Consulting with professionals, including financial advisors, elder law attorneys, and care coordinators, can further enhance the effectiveness of long-term care planning efforts.
At the Binder Firm, we are committed to providing comprehensive legal guidance and advocacy to clients throughout Kansas and Missouri. We’re happy to assist you in a variety of estate planning matters, including wills, probate and trust administration, estate litigation, and more.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. Copyright © 2018 The Binder Firm - All Rights Reserved.
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