What is Elder Law in Missouri and Arkansas?
Americans are living longer than ever before. At the turn of the 20th century, the average life expectancy was about 47 years. But during the 20th century, it almost doubled. As a result, we face more challenges and transitions in our lives than those who came before us. Our Joplin, MO law firm and Springfield, MO law firm focus on elder law and work with many families questioning how to care for an elderly loved one.
Most people who decide to move to a nursing home do so during a time of great stress. Some have been hospitalized after a stroke or broken hip; still, others have progressive dementia, like Alzheimer’s disease, and can no longer be cared for in their own home. At these times, it’s vital to pause, take a deep breath, and understand that there are things you can do. Useful information is available to help you make the right choices for you and your loved one.
Elder law attorneys, like the experienced team at The Law Firm of Christopher W. Dumm, specialize in the legal preparations needed to protect your assets and ensure your wishes are observed in your later years. Your advance health care directive will be just as valuable as creating the right trust.
The Law Firm of Christopher W. Dumm can assist you or your aging loved one in elder law services, including:
- Long-Term Care Planning
- Medicaid Qualification Planning
- Medicaid Crisis Planning
- Veterans Planning for Long-Term Care in Arkansas or Missouri
- Special Needs Planning
- Guardianships and Conservatorships
As we age, we face several challenges. It can be overwhelming and difficult to deal with the cost of care for aging seniors in Missouri and Arkansas. Elder planning is vital if you want to properly prepare for future care for yourself or a loved one. The earlier you establish a plan, the more options you will have for elderly care. Procrastinating on elder law planning may result in problematic outcomes that drain your finances or lead to being unable to make your own choices in the future.
Arkansas and Missouri Long-term Care Planning
As we age, we may require additional care options, such as in-home care or Arkansas or Missouri nursing home care. This type of care, known as long-term care, can be costly. Establishing a plan for how you will pay for long-term care can help you and your family avoid spending all or most of your hard-earned assets.
Nursing Home Planning in Missouri and Arkansas
You may find yourself in need of a Missouri nursing home or in-home care due to an accident, illness, or declining health as you age. To protect your assets from the high cost of care, it’s essential to establish a plan for managing payment. Medicaid coverage is often available to supplement the cost of long-term care, but applying for and qualifying for Medicaid is a complicated process. Without the support of Missouri or Arkansas Medicaid coverage, you will be held accountable for covering the full cost of Arkansas and Missouri nursing home care in Joplin or Springfield, MO, Bentonville, AR, and surrounding areas.
The annual median cost of care in 2023 varies by state and depends on the level of care you need. In Missouri, care from in-home services to nursing home facilities ranges from $60,683 to $75,510. In Arkansas, care ranges from $53,401 to $85,190. How long will your savings last? You can talk to our Arkansas lawyers or Missouri attorneys to find resources that help manage these expenses.
Establishing Powers of Attorney and Guardianship in Missouri and Arkansas
As we enter our later years, unfortunate events can occur, leaving us incapacitated and unable to make decisions on vital matters. Failing to appoint powers of attorney or guardian can put your home, savings, or both at risk, potentially leading your loved ones into a legal battle during an emotionally vulnerable time.
Selecting someone you trust to act as your agent under a power of attorney or as your guardian can help you and your family navigate your care and financial matters if you become unable to do so yourself. Advance medical directives, powers of attorney, and guardianship define exact directions for determining your health, financial, and legal next steps. Establishing a power of attorney document can protect your loved ones from petitioning the courts for guardianship. These documents can be drafted and won’t go into effect unless you become incapacitated and unable to make decisions on your own behalf. Our Springfield and Joplin, MO law firm, as well as our Bentonville, AR law firm, create legal documents to meet your state’s specific laws.
Understanding VA Planning for Missouri and Arkansas Veterans
Wartime veterans or their surviving spouses may be eligible for government veteran benefits without realizing it. These benefits can include Missouri and Arkansas nursing home care costs, in-home care costs, and assisted living facilities. The Special Monthly Pension benefit is available when a veteran is over 65 years of age, is permanently disabled, unable to work, homebound, or in need of regular care from someone. There are some requirements you or a loved one must meet to qualify for veterans’ benefits. In the confusion of all these VA benefits rules and regulations, The Law Firm of Christopher W. Dumm is here to provide clear guidance and peace of mind when planning for your future.
The Law Firm of Christopher W. Dumm helps you and your loved ones understand estate planning, asset protection, probate and estate administration, elder law, Medicaid planning, special needs planning, tax planning, and business planning. We welcome you to contact our Joplin and Springfield, Missouri offices, as well as our Bentonville, AR office to learn more about how we can help meet your elder law needs, including long-term care planning.