As Elder Law Attorneys, we make every effort to stay aware of our client’s needs in order to help them plan for aging, illness or incapacity.
We use our wealth of knowledge in the fields of Estate Planning, Long Term Care Planning, Powers of Attorney, Conservatorships, Guardianships and Asset Protection to ensure that our client’s wishes are honored and their dignity maintained.
Asset protection planning
Long-term care planning
Nursing home planning
Long Term Care: Are you struggling to provide care to a loved one? Are you concerned by long term care costs? Are you confused by Medicaid, Medicare and their requirements? The purpose of Long Term Care is to create a plan that ensures a patient receives the highest quality of care, with the least amount of burden to the client and their family. We can help you create a step-by-step plan to protect your family’s assets no matter what life stage you are currently in. We work directly with governmental agencies to ensure that we have the most up to date research and options available to our assist our clients with their long term care goals.
Asset Protection Planning: Recently Mississippi passed new laws allowing for the creation of trusts to protect your assets from potential claims of creditors, yet the assets in those trusts can still be used by the owner. This has never before been the case in Mississippi. Contact us to see if this type of planning is right for you.
Conservatorships: When a person becomes unable to manage their affairs and does not have a valid power of attorney, often times a Conservatorship is required to appoint someone to be in charge of their affairs and well being. This is a complex and expensive legal process that is necessary to protect the interests of the affected person. Two doctors are required to certify that the person is incapable of making their own decisions and that information must be given to the Chancery Court for the court to determine what is in the best interest of the person. This is very expensive and will usually last for the remainder of that person’s life. It is important to note that this legal process can almost always be avoided with a valid power of attorney.
Guardianships: A guardianship allows a person to make decisions for another. Traditionally this term was reserved for minors but now, a Guardianship may be established for an adult as well. The Chancery Court of the county where the person resides must determine if a guardianship is necessary. This is typically done when a person in incompetent and cannot make their own decisions, or if a person is a minor and the court requires a Guardianship be established to manage assets on their behalf.
Medicaid planning: Medicaid is a needs based program that only applies to the very poor. In order to qualify for Medicaid, the patient must spend down all of their assets to below $4,000 (2016) if they are a single person, or $119,220 (2016) if they are married. However, Medicaid has specific exceptions which allow Middle Class Americans to qualify without spending all of their assets, if they are aware of these exceptions and abide by Medicaid’s strict policies and guidelines. This type of planning requires the skills of a seasoned long term care attorney. At Dunn & Hemphill, we are well versed in Medicaid’s requirements and have been assisting our clients with Medicaid and Long Term Care Planning for decades. We have the knowledge and skills requires to help you navigate the paperwork and regulations in order to get your loved one the assistance they need.
Nursing home planning: As we age, the reality that a friend or a loved one may have to spend some time in a nursing home becomes more and more evident. This type of care can be expensive, but also necessary. Regardless of what you may have heard, it is never too late to put a plan in place to help you preserve or protect some or all of your assets. Let us help you sort through the options and discuss the different care facility available for you or your loved one and create a plan tailored to fit your family’s needs.