If your mother recently died, you are likely feeling overwhelmed with the emotional and practical aftermath of her passing. If you were named as the Executor of her Last Will and Testament, or you are the most likely person to handle the administration of her estate in the absence of a Will, you will undoubtedly want to avoid formal probate if possible. The only way to know with certainty that your mother’s estate can avoid formal probate is to consult with an experienced probate attorney. The … [Read more...] about Does My Mother’s Estate Qualify for an Alternative to Formal Probate?
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Executor Duties – Estate Accounting
Are you serving as the Executor of the estate of a recently deceased loved one? If so, you may already know how complex and complicated the probate of an estate can be. At some point during the process, you may be asked to provide an estate accounting. If this is the first time you have served as an Executor, you may not know what an estate accounting entails. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain what is involved in an estate … [Read more...] about Executor Duties – Estate Accounting
What Is the Medicaid Estate Recovery Program?
As of 2019, the average cost of a year in long-term care (LTC) nationwide was over $100,000. In Indiana, LTC costs have hovered right around the national average in recent years. Unless you can afford to cover that kind of an expense out of pocket, you will likely need to depend on Medicaid to help you if you need LTC in the future. One of your biggest fears, however, may be the commonly held belief that to qualify for Medicaid you will have to give up your home or other valuable assets. … [Read more...] about What Is the Medicaid Estate Recovery Program?
Understanding Alzheimer’s Disease
Issues that impact the elderly are very much on the American conscious of late due in large part to the dramatic increase in the senior population. The Alzheimer’s crisis, for example, is something that touches almost everyone. Whether you are concerned about developing the disease yourself, or you have a loved one who you are worried about, you need to understand as much about Alzheimer’s disease as possible. To help get you started, the Indianapolis elder law attorneys at Frank & Kraft … [Read more...] about Understanding Alzheimer’s Disease
What to Do Following the Death of a Loved One
Although we know better, we all prefer to think that our loved ones will live forever. Understandably, you have probably never sat down and thought about what steps you need to take after the death of a loved one. Consequently, if you find yourself in that position you may not know what to do. Although every experienced is unique, the Indianapolis estate planning attorneys at Frank & Kraft put together a list of practical steps that typically need to be taken following the death of a loved … [Read more...] about What to Do Following the Death of a Loved One
5 Mistakes to Avoid When Creating Your Last Will and Testament
If you are creating your first Last Will and Testament, care should be taken to avoid making mistakes given the importance of your Will. To help you avoid common mistakes, a Carmel estate planning attorney at Frank & Kraft discusses five mistakes to avoid when creating your Last Will and Testament. Using a Do-it-Yourself (DIY) Will form. In today’s electronic age, it is tempting to turn to the internet for everything, including legal forms. It may seem as though you are saving both time … [Read more...] about 5 Mistakes to Avoid When Creating Your Last Will and Testament
Are Dementia and Alzheimer’s the Same Thing?
If you have a parent, grandparent, or other older family member who is starting to show signs of physical and/or mental deterioration, the fear of Alzheimer’s may loom large in your subconscious. Maybe your loved one has already been diagnosed with the early stages of dementia and you are concerned about what to expect in the future. Although we often use the terms “dementia” and “Alzheimer’s” interchangeably, they are not the same thing. The Indianapolis elder law attorneys at Frank & … [Read more...] about Are Dementia and Alzheimer’s the Same Thing?
Protecting Your Assets Requires Planning for Long-Term Care
Over your lifetime, you will undoubtedly work toward amassing a sizeable enough estate to see you through your retirement years with enough left over to pass down to your loved ones when you are gone. Amassing assets, however, is only the first step. You must also protect the assets you acquire. One potential threat to your assets that you may never have considered is the cost of long-term care. To ensure that you plan accordingly, the Indianapolis asset protection attorneys at Frank & … [Read more...] about Protecting Your Assets Requires Planning for Long-Term Care
Preventing Senior Financial Exploitation
The older adult population in the United States has increased dramatically in recent years and is expected to continue to increase in the years to come. Sadly, that increase has led to a corresponding increase in elder abuse. Elder abuse occurs in several forms, including physical abuse, emotional abuse, and financial exploitation. If you are the caretaker of an older person, it is imperative that you take steps to prevent elder financial exploitation. The Indianapolis elder law attorneys at … [Read more...] about Preventing Senior Financial Exploitation
Trust Administration Tips for the New Trustee
If you were recently informed that you are the Trustee of a trust, and this is the first time you have served as a Trustee, you may not know where to begin or exactly what your duties and responsibilities as a Trustee will be. Unfortunately, people often appoint a spouse, friend, or family member as the Trustee of their trust without discussing the appointment with the prospective Trustee ahead of time. Consequently, it is not unusual for a new Trustee to feel a bit overwhelmed. Specific … [Read more...] about Trust Administration Tips for the New Trustee
