Posts by Monique Hannam

Families in Missouri caring for a loved one with a disability often face the difficult challenge of planning for their future without disrupting critical public benefits like Medicaid or Supplemental Security Income (SSI). Even modest gifts or inheritances can unintentionally disqualify someone from these essential programs. A Special Needs Trust (SNT) is a legally recognized way to set aside money or property to enhance a person’s quality of life without disqualifying them from means-tested benefits. At Hannam Law, we help Missouri families create and manage Special Needs Trusts tailored to their specific needs and goals. We guide you through the options: Types of Special Needs Trusts: First-Party Special Needs TrustFunded with the beneficiary’s own assets (e.g., from a personal injury settlement or inheritance). Required to include a Medicaid payback provision upon the beneficiary’s death. Third-Party Special Needs TrustFunded by someone else—typically parents or grandparents—as part of an estate plan. This trust does not require a Medicaid payback and can direct remaining funds to other heirs. Pooled TrustManaged by a nonprofit organization, a pooled...

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In Missouri, the cost of nursing home care can exceed $7,500 per month—and those expenses add up quickly. While Medicaid can help cover long-term care costs, many individuals are disqualified due to owning too many assets. Worse, Medicaid may attempt to recover those costs from your estate after you pass away. A Medicaid Asset Protection Trust (MAPT) is a powerful legal tool that allows you to shield your assets from Medicaid spend-down requirements while preserving them for your loved ones. At Hannam Law we help Missouri residents set up MAPTs as part of a proactive long-term care strategy. Here's how it works: Assets placed in a MAPT are no longer counted for Medicaid eligibility, provided the trust is created and funded at least five years before applying for benefits (due to the "five-year lookback" rule). If your home is placed in the trust, you retain the right to live in your home. Unlike giving assets directly to family members, a MAPT provides protection from their creditors, divorces, or financial mistakes. Upon your passing, assets in the trust...

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Nearly 70% of Americans over the age of 65 will need some form of long-term care—and for many, that means a nursing home stay. With the average cost of nursing home care now exceeding $8,000 per month, even a short stay can quickly drain a lifetime of savings. Many families are shocked to learn that qualifying for Medicaid—the government program that helps cover long-term care costs—is far from simple. Strict income and asset limits apply, and even once approved, the state may attempt to recover benefits paid from the individual’s estate after death. At Hannam Law we help families navigate these challenges with two key planning approaches: Advance PlanningWith enough lead time, we can help protect your assets through strategic transfers and trusts. By planning at least five years before nursing home admission, you can preserve your wealth while still qualifying for Medicaid when the time comes. Crisis PlanningEven if a loved one is already in a nursing home or needs care soon, it’s not too late. Our attorneys guide families through the Medicaid “spend down” process by converting countable assets...

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