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?
Incapacity Planning
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?
Incapacity Planning in Indiana: What Is a Living Will?
Incapacity planning may not be the most pleasant subject to contemplate, but planning ahead is important if you want to make sure that you are treating your family members fairly. You could choose to do nothing and hope for the best. But if you were to become incapacitated, those that you love could bear the brunt of the consequences of your inaction. When you are including an incapacity planning component within your broader estate plan you should execute documents called advance … [Read more...] about Incapacity Planning in Indiana: What Is a Living Will?
Can't I Just Give Away My Assets and Qualify for Medicaid Benefits?
There are people who don't understand why Medicaid would be something that is relevant to senior citizens. You work all of your life and payroll taxes are deducted from your wages or salary. These taxes are going toward benefits that you become eligible for when you are a senior citizen. These would include Social Security and Medicare. Medicaid is a health care safety net that is in place for people who have virtually no financial resources. Why would a person who is eligible for Medicare … [Read more...] about Can't I Just Give Away My Assets and Qualify for Medicaid Benefits?
Should I Have an Indiana Durable Power of Attorney?
Your estate plan should ideally have a number of different components. Of course you must consider the matter of future financial asset distributions among your heirs. We often write about the different possibilities in significant detail here on this blog. In this post we are going to look at another facet that you should consider: incapacity planning. It is not something that you are going to be very anxious to think about, but the fact is that it is very possible that you will … [Read more...] about Should I Have an Indiana Durable Power of Attorney?
How Thorough Is Your Existing Estate Plan?
If you have an estate plan in place you are actually among a minority of Americans. That's correct, even though death is widely understood as one of the proverbial two inevitable facts of life, the majority of American adults have not executed all of the necessary estate planning documents. There are those who have taken a single step along the way. Perhaps you had a last will drawn up when you had your first child, or when you got married. This does not mean that you are … [Read more...] about How Thorough Is Your Existing Estate Plan?
Do You Have a Living Will?
Advance directives for health care are recommended for everyone, and one of them is the living will. With this directive you record your preferences regarding the use of life-sustaining medical procedures. Perhaps the best way to understand why a living will is important is to recount the story of Terri Schiavo that was widely publicized a number of years ago. Terri was a young woman who had not yet reached her 30th birthday when she went into full cardiac arrest. She … [Read more...] about Do You Have a Living Will?
Elder Care Robots Being Developed
Sometimes statistics paint a grim picture, and this is certainly true when you look at the state of elder care. The costs are exorbitant, and Medicare doesn't pay for an extended stay in a nursing home or assisted living community. As a response many people who need help with their day to day needs rely on family members and/or friends to provide in-home assistance. In fact, this is where most of the care that is required comes from, but sometimes it is not enough. In-home … [Read more...] about Elder Care Robots Being Developed
Estate Planning for the Rest of Us
There are people who do not concern themselves with estate planning because they are not extraordinarily wealthy. They assume that estate planning attorneys are only useful for high net worth individuals who are exposed to the estate tax. The federal estate tax carries a 40% maximum rate in 2013, and the amount of the exclusion is $5.25 million. This does not mean that you have no reason to consult with an estate planning attorney if your assets do not exceed this … [Read more...] about Estate Planning for the Rest of Us
