If you are the parent of a special needs individual in Indiana, you probably wonder how your child will get along after your death. Special needs individuals often require specialized care throughout their lives, so meeting your child's needs is essential. Many people...
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How to protect assets from nursing homes
Living in an Indiana nursing home may be expensive even for those with a sizeable nest egg. Government programs such as Medicaid may help to cover some or all of the costs associated with doing so. However, income limits and other restrictions must be met before you...
What to know about an inter vivos trust
Indiana law allows you to create an inter vivos trust as part of your overall estate plan. One of the key benefits of such a trust is that you can name yourself as the trustee, which means that you have control over trust assets during your lifetime. When you pass...
What are grantor trust rules?
Many Indiana adults include trusts in their estate plans to avoid probate, reduce federal estate taxes and ensure that their assets are distributed according to their wishes after they pass away. Trusts were once commonly used to divide income among several...
Is a trust the right choice for your estate plan?
When preparing an estate plan, some people might not know that they have options other than writing a last will and testament. Creating a revocable or irrevocable trust could be the appropriate decision. Researching the purposes and potential upsides of trusts is...
About contesting a trust or will
When someone passes away in Indiana, the distribution of their assets can create conflict between family members. If there is a will or trust in place, it is meant to provide clear instructions for the distribution of assets. However, when the validity or...
What do you need to know about a special needs trust in Indiana?
Estate planning in Indiana often involves ensuring your loved ones can care for themselves after your death. If your loved ones include people with disabilities, you may consider setting up a special needs trust as part of your estate planning. Definition and benefits...
Savvy financial strategies for special needs families
Of all the innumerable challenges faced by Indiana families that include a member with special needs, perhaps the most profound involves how that particular loved one will receive appropriate care once their parents have passed away. The good news is that by applying...
Which Indiana residents can benefit from a special needs trust?
When a family member has a disability, it can be difficult for them to live independently. They may need help with everyday tasks, and they may not be able to work. This can put a strain on the family, both emotionally and financially. That's where a special needs...
Exploring an irrevocable life insurance trust
Estate planning involves many steps intended to help the planner and any beneficiaries. Often, beneficiaries receive assets as specified by a will, but some accounts may transfer to named beneficiaries. Life insurance policies also name beneficiaries, and an insured...