Missouri Elder Law


What is Elder Law?

Elder Law addresses issues associated with aging. Such issues include the possibility of disability, the probability of long-term care, and the certainty of death.

DISABILITY

What will happen if you become disabled? Who will pay your bills, advocate with your insurance company, or protect your assets? Who will make your healthcare decisions? Will a court or doctor make these decisions?

The reality is this: if you do not have validly executed documents in place providing the answers to these questions, you will no longer be in control when you become disabled. By executing power of attorney and other crucial documents, you will remain in control through those people you hand-select to be your advocates during a time of disability.

LONG-TERM CARE

How will you pay for long-term care? Do you have or can you qualify for long-term care insurance? Sometimes long-term care insurance is an option. However, long-term care insurance can be cost prohibitive or the applicant may be uninsurable. Elder Law planning does no discriminate against age, previous or current health conditions, and is cost effective for most individuals. While an ideal plan involves both planning strategies, elder law planning can help you accomplish similar results if you cannot obtain long-term care insurance.

The nursing home is a place most people never want to go, but unfortunately, statistics tell us well over the majority of people aged 65 and older will need long-term care for an average of 3 years. With nursing home costs on the rise, almost no estate can sustain average or longer-than-average stays in the nursing home without completely losing all savings, retirement, farm land, and other property.

At Parks & Jones Attorneys at Law, our elder law practice is devoted to providing viable solutions to safeguard your assets from the only potential creditor many estates face: the nursing home. We focus on tangible solutions to lessen the burden for individuals and families concerned about future nursing home costs or those who may already be facing these costs.

The attorneys at Parks & Jones will help you select the right tools to preserve assets from nursing home costs and can even help limit or eliminate the need to spend down assets. The goal of our elder law practice is to enable you and your family (NOT the government) to control your income and wealth so you are in charge of what happens to your property and assets.

Some of these tools involve proactive planning (assets are protected from nursing home costs in five years) while others are meant to preserve assets when the nursing home costs are imminent. Proactive planning is designed to maximize asset preservation and control, so it is the preferred planning option if you have time on your side. But if you find yourself or a loved one at the nursing home without a plan, it is not too late! Contact us immediately for a no-cost consultation to see how this planning can make a difference for you and your family.

DEATH

Will there be anything left to leave your beneficiaries when you die? Most people wish to leave something to the next generation. Ensuring you have a plan in place to protect yourself and maintain your quality of life in case of disability or long-term care all but ensures you will have something to leave your beneficiaries upon your passing. With proper elder law planning, both you and your beneficiaries will enjoy the protection elder law planning affords.

Consider This Story

You have the desire to make a difference and want to leave a legacy, and you have $100,000 to use towards that goal. If you find 100,000 different individuals or charities and give each of them $1 you will have wasted your resource and really helped no one. Conversely, if you identified 3 people or charities, or loved ones (or some combination) and each received $33,333 you will have USED (not wasted) your resource, AND you will have targeted your resource in a way that makes a significant difference. Elder care planning is about keeping your assets in the family, so you do not waste your resources and can positively benefit you and your spouse, children, or other beneficiaries.

Please contact our office for a FREE consultation to see what type of planning is right for you. As a law firm devoted to protecting clients in the area of elder law we look forward to helping you and your family.