Like most people, you may have spent your youth without ever giving a thought to the possibility that you might one day need nursing home care. After all, young and healthy people rarely think about how their bodies might one day betray them as the aging process makes it more and more difficult to care for their own needs. Still, that happens to many of us, and some experts suggest that roughly half of us will someday spend at least some time as a resident in a long-term care facility. To … [Read more...] about How Should Indiana Medicaid Laws Affect Your Long-Term Care Planning?
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Indiana Inheritance Tax: Is Your Inheritance at Risk?
If you live in Indiana and see the words “Indiana inheritance tax” you may very well wonder why anyone would bother talking about a now-repealed form of taxation. For while the state did at one time levy that tax on inheritances, that old system of taxation was retroactively repealed in a law that went into effect in 2013. For heirs whose loved ones passed away after January 1, 2013, no inheritance tax is due. But does that mean that your future inheritance is free from any inheritance tax … [Read more...] about Indiana Inheritance Tax: Is Your Inheritance at Risk?
Indiana Medicaid Dangers You Need to Know
When seniors need help covering the costs of nursing home care, many end up turning to the one government program that offers more long-term care assistance to the elderly than any other: Medicaid. Though most Americans think of the Medicaid program as nothing more than a way to provide health care insurance to the nation’s poorest citizens, the fact is that it is also the largest single revenue source for nursing homes across the country. For seniors who apply for Medicaid, however, … [Read more...] about Indiana Medicaid Dangers You Need to Know
Indiana Legislators Debate LGBT Protections
Earlier this month, Indiana legislators were still engaged in a heated debate about the state’s failure to enact anti-discrimination legislation that would protect the state’s lesbian, gay, bisexual, and transgender residents. To date, the state still has no formal protections on its books to ensure that LGBT residents of the state are not subjected to unfair discrimination in areas like housing and employment – a fact that continues to stir the passions of members of that community and their … [Read more...] about Indiana Legislators Debate LGBT Protections
Learning to Love the Probate Process
It’s always difficult when a loved one dies, but coping with that sense of loss is often made even more difficult during the estate settlement process. This is especially true for those who have been named to serve as an executor for the will. For many executors, probate can be a nightmarishly complex process that wears on them emotionally, mentally, and even physically. And since the average executor often tries to manage these complex duties on his or her own, the stress can last for many … [Read more...] about Learning to Love the Probate Process
LLC Formation: How it Works and Why It Matters
For Indiana businesses, the limited liability company – or LLC – can be a powerful tool for protecting personal assets by shielding entrepreneurs from personal liability. From a business standpoint, that can help to ensure that your home, car, and other personal property are not at risk if the business is ever sued for any reason. The LLC’s real value extends well beyond that protection, however, and extends even into the realm of estate planning. To maximize the benefits that you can enjoy from … [Read more...] about LLC Formation: How it Works and Why It Matters
Secrets Every Indianapolis Estate Planning Attorney Wants You to Know
There are many among us who find it easy to believe that people in the legal profession prefer it when their clients are kept in the dark about how the law affects their lives. Some might call that job security – since that lack of knowledge would presumably ensure that attorneys always have clients in need of their services. That’s pure myth, of course. The reality is that almost all attorneys encourage their clients and would-be clients to gain greater insight into the law, since an informed … [Read more...] about Secrets Every Indianapolis Estate Planning Attorney Wants You to Know
Can a Partnership Be an LLC? Get the Answers You Need
Estate planning can be complex even under the simplest of circumstances. When you own your own business, however, that complexity seems to grow by leaps and bounds. Whether it’s asset protection, succession plans, or buy/sell agreements, there always seems to be some aspect of the company’s structure and operations affecting your overall estate planning effort. For those who share ownership of their company with another person, that partnership can raise other estate planning questions. For … [Read more...] about Can a Partnership Be an LLC? Get the Answers You Need
Six Reasons Why You Need an LLC Operating Agreement
As estate planning professionals who have helped many clients who own their own businesses, we’ve been involved with more than our fair share of Limited Liability Companies (LLC). The LLC continues to be one of the most popular ways for entrepreneurs to organize their companies, as it provides an affordable and more manageable way for many small business owners to limit their liability and separate their personal assets from their business interests. For many of these entrepreneurs, however, … [Read more...] about Six Reasons Why You Need an LLC Operating Agreement
Secure Your Future Nursing Home Care with Medicaid Trust Planning
If you’ve been keeping up with the news in recent years, then you’re probably already aware that nursing home costs have been rising to new heights. In the state of Indiana, those costs now exceed $200 a day, with some facilities charging more than $9,000 a month. It’s only natural to wonder how the average resident is supposed to be able to afford those rates – especially when you consider the fact that most Americans have less than $10,000 in retirement savings! To cover those costs, you need … [Read more...] about Secure Your Future Nursing Home Care with Medicaid Trust Planning
