Once you outgrow your initial estate plan, you will likely find that you need to incorporate a wide range of estate planning tools and strategies to ensure that your plan will achieve the ever-expanding list of inter-related goals now included in your plan. One of the tools you may choose to utilize is a trust. Trusts have become increasingly popular, due in large part to the flexible nature of a trust. When creating your trust you must focus on how the trust will be administered, starting with … [Read more...]
What You Don’t Know about Medicaid Could Hurt You
You may have made it through your entire life without giving Medicaid a second thought; however, there is a very good chance that as a senior you will find yourself turning to Medicaid for help covering the high cost of long-term care. With that in mind, it makes sense to learn more about the Medicaid program now. In fact, as the Carmel Medicaid planning attorneys at Frank & Kraft explain, what you don’t know about Medicaid could hurt you.What Don’t You Know?Medicaid is a healthcare … [Read more...]
What Can an Estate Plan Do for You?
You may have listened to well-meaning friends and family members tell you how important it is to have an estate plan in place; however, unless you truly understand what an estate plan can do for you, it’s hard to find the motivation to get started on your plan. The good news is that a well thought out estate plan can accomplish a wide range of inter-related goals. A better understanding of how an estate plan can protect you, your assets, and your loved ones during your lifetime and beyond may … [Read more...]
SSI vs. SSDI – Do You Qualify for Either?
Contrary to what many people believe, disability is not a concern that is limited to the elderly. The reality is that you could suffer a temporary, or permanent, disability at any time during the course of your lifetime – though the odds do increase with age. Fortunately, the United States government has programs that offer financial assistance to individuals who are disabled. Both the Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) program provide monetary … [Read more...]
5 Hidden Threats to Your Assets
Your estate plan should work just as hard to protect your assets while you are here as it does to ensure they are distributed according to your wishes when you are gone. For your plan to protect your assets though, you must first identify the possible threats to those assets. Some of the ways in which your assets might be at risk are fairly obvious; however, there are also likely ways in which your assets are at risk that you have not thought of before now. To help you keep your assets safe, the … [Read more...]
What Stan Lee’s Death Should Teach Us
The world lost a legend of the comic world when Stan Lee passed away on November 12th at the age of 95. Prior to his death, Lee made headlines repeatedly as those close to him jockeyed for control of his fortune. Despite ailing health, Lee fought back with allegations of elder abuse. The litigation that was ongoing at the time of his death does not simply disappear with his death, meaning it will plague the probate of his estate. While most of us will not have the type of fame and fortune Lee … [Read more...]
Why Is a Professional Trustee Often Best?
Including a trust in an estate plan has become a very popular option in recent years given the numerous and varied goals a trust can help accomplish. If you are considering the addition of a trust in your estate plan, one of the most important decisions you will need to make when you create your trust is who to appoint as your Trustee. A common mistake people make when they create a trust is to appoint someone close to them, such as a spouse or family member, as the Trustee without giving due … [Read more...]
The “Queen of Soul” Left behind an $80 Million Intestate Estate
Aretha Franklin lost her lengthy battle with pancreatic cancer on August 16, 2018. According to news reports, the legendary Queen of Soul was surrounded by family and friends when she died on August 16th. For reasons that may forever remain a mystery, Aretha left behind an intestate estate estimated to be worth more than $80 million. Her four sons stand to inherit her estate pursuant to the applicable intestate succession laws. So far, her family has banded together quickly; however, as we … [Read more...]
Can I Contest My Father’s Will?
The loss of a parent is not something for which you can ever truly prepare. If you recently lost your father, you are undoubtedly going through a period of grief and heightened emotions. Along with working through the emotional aftermath of your loss, you will also be faced with practical and legal issues relating to your father’s death. The administration of your father’s estate, for example, should begin shortly after his death. If your father left behind a Last Will and Testament, that … [Read more...]
10 Tips to Help You Choose the Right Nursing Home
Making the decision to move an older loved one to a nursing home is rarely a decision that is easily made. In reality, however, it is often a necessary decision because failing to do so could put a loved one at risk for serious injury or victimization by those who prey on vulnerable seniors. Once the decision has been made, the next step is to find the best nursing home for your loved one, a task that may seem daunting. To assist you with your search, the Indianapolis nursing home lawyers at … [Read more...]
