There are those who are always looking for a bargain. They don't think that there is ever a need to pay for something of quality. In many instances they look for do-it-yourself solutions. This can even extend to the area of estate planning. With this in mind, let's look at do-it-yourself estate planning in Indianapolis and how it may interface with special needs planning. Providing for a Person With a Disability If you have someone with a disability on your … [Read more...] about Special Needs Planning in Indianapolis: How Much Would it Cost to Create a Supplemental Trust?
Estate Planning
Medicaid Recovery in Indianapolis IN: Can I Add an Heir to My Property Title to Avoid It?
When you get serious about planning ahead for the eventualities of aging you may learn about some things that you never considered. One of these is the fact that Medicare won't pay for long-term care. As a result, Medicaid is relied upon by most seniors who reside in nursing homes. Because of this, Medicaid recovery in Indianapolis IN is an important consideration. Medicaid will assist with long-term care costs if you can stay within the low upper asset limit of $1,500. … [Read more...] about Medicaid Recovery in Indianapolis IN: Can I Add an Heir to My Property Title to Avoid It?
Can You Contest a Trust in Indianapolis?
Most people are aware of the fact that you can contest a last will, but can you contest a trust in Indianapolis? Acceptable Grounds Your first thought with regard to an estate challenge may be that a disgruntled party really has no right to an inheritance, but he or she can't accept reality. This individual did not maintain a good relationship with the decedent. The decedent was so distressed that he or she decided to disinherit the party in question. Case … [Read more...] about Can You Contest a Trust in Indianapolis?
Veterans Estate Planning, Elder Law & Veterans Day
As we observed Veterans Day on November 11th (and throughout the month as a whole) we are reminded of the sacrifices that are made by our country's veterans so that we can all remain free. Generations of service members have contributed to the ongoing freedoms that Americans enjoy. As we observe this important holiday, we would like to touch upon estate planning and elder law as it applies to veterans. Legacy Planning When you are planning your estate you should consider the matter … [Read more...] about Veterans Estate Planning, Elder Law & Veterans Day
What Is the Cost of Probate in Indianapolis IN?
You should have at least a basic understanding of the probate process when you are planning your estate in Indiana. When you know some of the facts, you may decide to take actions that you would not have taken if you knew nothing about probate. Probate is a legal process. If you use a last will to arrange for the distribution of property that you own personally after you die, the estate must be probated before the heirs receive their inheritances. When you draw up your last … [Read more...] about What Is the Cost of Probate in Indianapolis IN?
A Look At Joint Tenancy With Right of Survivorship
When you look into the postmortem process that will be initiated after you pass away you will invariably learn some things about the process of probate. Probate is a legal proceeding that can be time-consuming and expensive. For this reason, probate avoidance strategies are often implemented. An overly simplistic probate avoidance notion that some people buy into is the utilization of joint tenancy with right of survivorship. Co-Ownership of Property The term joint tenancy … [Read more...] about A Look At Joint Tenancy With Right of Survivorship
Should I Use My Unified Exclusion While I'm Still Alive?
There is a federal estate tax in the United States, and theoretically it is applicable to everyone. However, most people don't pay the estate tax because there is a federal estate tax exclusion. In 2013, the amount of this exclusion is $5.25 million. After the enactment of the American Taxpayer Relief Act of 2012, this exclusion amount is said to be permanent, but there are inflation adjustments applied annually. Therefore, you can expect to see an exclusion that is a little bit … [Read more...] about Should I Use My Unified Exclusion While I'm Still Alive?
How Is Property Managed When Someone Becomes Incapacitated?
Incapacity planning is something to take very seriously when you are putting together a comprehensive plan for aging. Clearly, you are not going to be especially anxious to envision a time when you may not be able to make decisions on your own. At the same time, everyone ages, and incapacity is quite common among people who have reached an advanced age. If there was no other cause of incapacity, Alzheimer's disease alone would make incapacity planning an absolute must for serious … [Read more...] about How Is Property Managed When Someone Becomes Incapacitated?
What Is a Power of Attorney in Indianapolis?
There are various different legal devices in the state of Indiana that are used in the field of estate planning. One of them is the power of attorney. In this post we would like to examine powers of attorney so that we can clear up any confusion that may exist. A power of attorney in Indianapolis Indiana is used to give someone else the right to act in your behalf in a legally binding manner. There are different types of powers of attorney, and they are each used for different … [Read more...] about What Is a Power of Attorney in Indianapolis?
Probate in Indianapolis IN: Can It Be Avoided?
In the city of Indianapolis, your estate must be probated before the heirs will receive their inheritances (assuming the probate assets in question exceed $50,000 in value). Probate is a legal process, and it takes place under the supervision of the probate court. During probate in Indianapolis IN, the executor or the personal representative will administer the estate. While this process is underway anyone who wanted to contest the will could present arguments before the probate … [Read more...] about Probate in Indianapolis IN: Can It Be Avoided?
