If you or an elderly loved one have been assuming you could escape the high costs associated with nursing home care by relying on in-home care, the latest Genworth Financial study on long-term care costs suggests that you’re at least partially correct. Much has been said and written in recent years about the continual rise in nursing home costs across the country – a trend that has seen the cost of a private long-term care room in the Indianapolis area soar to more than $88,000. According to the … [Read more...] about Study Suggests Indianapolis In-Home Care Costs Are Rising
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Wills vs. Trusts: The Verdict is In
If you are considering your estate planning options and find yourself confused by all of the debate about wills and trusts, you’re not alone. There is nothing easy about planning for your own death, and that process is made even more difficult when you have to struggle to find clear, unbiased information about the options available to you. By now, you probably understand that you will need to use at least one of these two options to ensure a smooth transfer of your assets when you die. The … [Read more...] about Wills vs. Trusts: The Verdict is In
Medicaid in Indianapolis: Qualifying for Nursing Home Coverage
Nursing home care has been a wonderful societal advance that has enabled millions of the nation’s seniors to receive the care they need when independent living is no longer an option. For many of those seniors, however, the high costs associated with long-term care are often more than they can bear. Each year, many older people are faced with the prospects of seeing their entire life savings eaten away by nursing home costs that can be as high as thousands of dollars a month. Fortunately, there … [Read more...] about Medicaid in Indianapolis: Qualifying for Nursing Home Coverage
Probate in Indianapolis: Avoiding it with Sound Estate Planning
If you’ve ever endured the lengthy probate process after a loved one’s passing, then chances are you have some idea of just how time-consuming and frustrating it can be. Often times, families have to wait many months for the court-supervised process to complete, with beneficiaries forced to wait longer than they should to receive any inheritance that might be due. If you have assets that you want to quickly get to your surviving family members when you die, then you may want to look at estate … [Read more...] about Probate in Indianapolis: Avoiding it with Sound Estate Planning
Contesting a Will: How Hard Is It?
Most people are aware of the fact that a last will is an estate planning document that can be utilized to facilitate postmortem asset transfers. In fact, it is the most commonly utilized estate planning device. If you were to create a last will, you would have to go through certain steps to make sure that it is legally valid. This is one of the reasons why you should work with an estate planning attorney if you decide that you would like to execute a last will. Each state has somewhat … [Read more...] about Contesting a Will: How Hard Is It?
Do You Need a Will Attorney to Plan Your Estate?
A will attorney can be of great assistance to you when you are putting your estate plan together, but many people have different ideas. If you were to search the Internet looking for estate planning solutions, you would invariably come across websites that sell do-it-yourself estate planning worksheets and templates. You may get the idea that it is easy to create a last will on your own using automated tools that you purchase online. Technically, any adult who is of sound mind can execute a … [Read more...] about Do You Need a Will Attorney to Plan Your Estate?
Retirement Planning: Will You Be Ready?
You probably have a retirement dream. After you have put your working years behind you, there is a lot of living left to do. Are you on track to live the retirement dream? Have you given retirement planning any thought? If you are not working within a cogent plan that leads to a comfortable future, action is required. Our firm can help you put a solid plan in place that culminates in the fruition of your long-term financial goals. Retirement planning is a very important piece of the … [Read more...] about Retirement Planning: Will You Be Ready?
How Can a Medicaid Lawyer Save You Money?
Elder law attorneys help clients who are interested in preparing for the eventualities of aging. When you are planning ahead for your active senior years and the twilight years to follow, you should understand what to expect from government programs like Medicaid and Medicare. When you see the complete picture as it applies to long-term care, you will immediately understand how a Medicaid lawyer can save you a great deal of money if you plan ahead proactively. Let's look at the … [Read more...] about How Can a Medicaid Lawyer Save You Money?
Can Lifetime Gifts Be Given to Avoid the Inheritance Tax?
It would be logical to assume that you could give a gift without any tax consequences. Imagine this simple scenario. You receive your salary via direct deposit, and you notice that about 40 percent of your pay has been absorbed by taxes. It is your son's birthday, and you take some of the remainder to buy him a gift. You pay sales tax on the gift. That is a lot of taxation when you put it all together. However, technically speaking, the gift is also taxable. There is a gift tax in place in … [Read more...] about Can Lifetime Gifts Be Given to Avoid the Inheritance Tax?
Make a Loved One More Comfortable With a Special Needs Trust
There are various different ways to arrange for asset transfers to your loved ones when you are planning your estate. Some people automatically reduce estate planning to the execution of a last will. In fact, this is just one of many possible vehicles of asset transfer, and it may not always be the best choice. As a case in point, consider the situation that would exist if you wanted to leave an inheritance to someone with a disability who is relying on Medicaid coverage. Need-Based … [Read more...] about Make a Loved One More Comfortable With a Special Needs Trust
