We practice law in Indianapolis, and we serve many clients who live in Hamilton County. A while back, Eyewitness News 13 carried a story about the affluence of Hamilton County residents. They cited a Census Bureau study that was conducted to determine the wealthiest counties in the country. Hamilton County came in at number seven. Clearly, success is what we all strive for, and wealth is a very good thing. At the same time, you also have to take steps to preserve your wealth, because taxation … [Read more...] about The Estate Planning Implications of Hamilton County Affluence
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Disability Planning Can Provide Peace of Mind
Studies indicate that the average life span is 78 years. This figure is calculated by including people who pass away at all ages. As you get older, your life expectancy will increase beyond this overall average. Once you reach the age of 65, it becomes statistically likely that you will live into your 80s. In fact, according to the United States Census Bureau, the portion of the population that was between 85 and 94 grew faster than any other decade-long age grouping between the last two … [Read more...] about Disability Planning Can Provide Peace of Mind
Eight Things You Need to Know About Taxation and Estate Planning
Eight Things You Need to Know About Taxation and Estate Planning from Paul Kraft If you leave inheritances to your loved ones, they will not be required to report the bequests as income for regular income tax purposes Capital Gains Taxes. Learn more about eight things you need to know about taxation and estate planning in this presentation. … [Read more...] about Eight Things You Need to Know About Taxation and Estate Planning
An Explanation of Indiana Medicaid Guidelines
Medicaid is a program that is available to qualified applicants nationally. Indiana Medicaid is a health insurance program, and it is administered by the federal government along with the state government. Most senior citizens will qualify for Medicare when they reach the age of 65 under currently existing laws. Medicare is a source of health insurance, so you would not need Medicaid if you qualify for Medicare. Plus, if you have resources, you would not be eligible for Medicaid coverage, … [Read more...] about An Explanation of Indiana Medicaid Guidelines
Explore Business Planning Strategies
In this post, we are going to look at a couple of different concerns that may be a factor when you are engaged in your business planning efforts. First, we will look at business planning for people who are partners in small businesses. Let’s say that you are one of three partners in a small business. The business is very successful, and the share that is owned by each partner is quite valuable. In fact, your share in the business is your most valuable asset, and you want its value to be … [Read more...] about Explore Business Planning Strategies
There Is More to Estate Planning Than Creating a Will
A significant percentage of Americans know very little about estate planning. They think that creating a will is the long and short of it, and they assume that they will have time to do this at some point in the future. This is one of the reasons why most people are going through life without a comprehensive estate plan. In fact, there is much more to the process of estate planning than creating a will. Let's look at the facts. Creating a Will When you are planning your estate, one of … [Read more...] about There Is More to Estate Planning Than Creating a Will
You May Want to Steer Clear of the Probate Process
Probate is the legal process of estate administration. Some people would say it is a necessary evil. However, it is actually not evil, and it is not really necessary if you take the right steps. Supervision of Estate Administration Most people use a last will to record their final wishes. If you do this, your property is going to become probate property immediately after you die. It is not transferred to your heirs right away. Why is this? For one thing, the validity of the will must be … [Read more...] about You May Want to Steer Clear of the Probate Process
Living Trust Benefits May Surprise You
There are many different tools in the estate planning toolkit. People who have not looked into the subject extensively often assume that they should use a last will as an asset transfer vehicle, but there are inherent drawbacks and limitations when you use a last will. For many, a revocable living trust would be a better choice, and you may be rather surprised when you learn about the living trust benefits that you can take advantage of if you go this route. Debunking the Myths There is … [Read more...] about Living Trust Benefits May Surprise You
Elder Law Services: Answers to Three Important Questions
When you are going through different stages of life, you have immediate concerns. You may not necessarily be looking ahead toward your senior years, and this is understandable. At the same time, years are passing, and you can wake up one morning and come to the realization that you are not as young as you used to be. Matters that are of interest to senior citizens can suddenly become quite relevant as your retirement years start to peek over the horizon. This is where elder law services can … [Read more...] about Elder Law Services: Answers to Three Important Questions
Baby Boomer Phenomenon Is Impacting Indianapolis Demographics
The baby boomers are reaching retirement age, and this is having a significant demographic impact here in Indianapolis. An article by Matt Klinghorn, a demographer for the Indiana Business Research Center, Kelley School of Business, Indiana University, was published in the Indiana Business Review. It is very well researched and informative. The article points out the fact that the first wave of baby boomers reached the age of 65 in 2011. At that time, senior citizens comprised 13 percent … [Read more...] about Baby Boomer Phenomenon Is Impacting Indianapolis Demographics
