If you are the adult child of an aging parent, watching your parent succumb to the physical and/or mental deterioration that accompanies the aging process can be extremely difficult. Making the decision to seek guardianship over your parent can be a heart-wrenching decision because it often feels as though you are taking away a parent’s independence. As an Indianapolis guardianship attorney at Frank & Kraft explains, it helps to recognize how your aging parent might actually benefit from … [Read more...]
Free Report: What is a Guardianship in Indiana?
The matter of guardianship is something to take into consideration when you are planning your estate. It can come into play under a couple of different scenarios. Topics covered in this whitepaper include: Minor Children Adult Guardianship Durable Powers of Attorney Click here to read the whole article or download the PDF. … [Read more...]
What Is the Difference Between a Guardianship and a Power of Attorney?
Estate planning involves planning ahead for the things that will take place after you pass away. While this is an important part of the process, you should also consider the eventualities of aging and the potential for a guardianship proceeding. Incapacity Among Seniors Clearly, this is not the most pleasant subject to consider, but incapacity looms as a very distinct possibility. The oldest segment of the population is growing faster than any other. Once you reach the age of 65, it becomes … [Read more...]
When Would a Guardianship Be Necessary?
The matter of guardianship is something to take into consideration when you are planning your estate as a parent of a minor child. It can also come into play when you are preparing for the eventualities of aging. In this post we will look at some of the details. Nominating a Guardian If you have minor children still in the home, estate planning is a must for a number of different reasons. You want to make sure that your family has a financial underpinning to draw from if you were to pass … [Read more...]
What Are the Advantages and Disadvantages of a Guardianship?
Before we get into the matter of adult guardianship, we should provide some background information about incapacity. Estate planning is clearly going to revolve around financial issues for the most part, but you should also consider the eventualities that you may face toward the end of your life. Incapacity Planning There are various different causes of incapacity. When people become physically ill they sometimes become unable to communicate, and this is one form of incapacity that can … [Read more...]
What Are the Advantages of a Durable Financial Power of Attorney?
The process of estate planning should be looked at from a holistic perspective. The postmortem transfer of your monetary resources is at the root, but you should also consider the interim that will precede your passing. Incapacity is quite common among elders. A comprehensive plan for aging will address this contingency. Durable Financial Power of Attorney Who would handle your financial affairs if you were to become incapacitated? You can answer this question yourself through the … [Read more...]
Can Medicaid Planning Begin After Dementia Symptoms Appear?
Custodial care is not covered by Medicare. This is the type of care that you would receive in a nursing home or assisted living community. Medicare will only pay for convalescent care after surgery for a period of time not to exceed 100 days. This presents a challenge for many individuals, because the majority of Americans will eventually need long-term care. A stay in a nursing home or assisted living community is extremely expensive. Most people cannot comfortably pay these expenses … [Read more...]
Indianapolis Incapacity Planning: What Is a Guardianship or Conservatorship?
Estate planning involves making arrangements for things that will take place after you die. However, if you want to be comprehensively prepared you should also consider the interim that will precede your death. With this in mind let's look at Indianapolis incapacity planning, guardianship and conservatorship. Indianapolis Incapacity Planning Representation in the Event of Incapacity People often become incapacitated late in their lives. Approximately 45 percent of people who are at least 85 … [Read more...]
What Is the Nomination of a Guardian?
People are sometimes remiss when it comes to estate planning. They put it off for various different reasons. One of the primary reasons is the idea that there will always be time to take care of it later on. Younger adults often adopt this line of thinking. In fact, it could be argued that estate planning is more important for younger adults than it is for older people, especially when minor children are involved. With this in mind let's look at the nomination of a guardian. Who Would Care for … [Read more...]
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 purposes. A … [Read more...]
