General Blog

It’s called your “golden years” but for many seniors and baby boomers, there is no gold and retirement savings are too often insufficient to maintain even basic living standards of retirees. In fact, a recent study by the University of Michigan found that baby boomers are the fastest growing age group filing for bankruptcy. And even for those who have…Read More

Which entity is best for your business depends on many factors, and the decision can have a significant impact on both profitability and asset protection afforded to its owners. Below is an overview of the most common business structures. Sole Proprietorship The sole proprietorship is the simplest and least regulated of all business structures. For legal and tax purposes, the…Read More

The recent proliferation of online estate planning document services has attracted many do-it-yourselfers who are lured in by what appears to be a low-cost solution. However, this focus on price over value could mean your wishes will not be carried out and, unfortunately, nobody will know there is a problem until it is too late and you are no longer…Read More

Can You Create An Asset-protecting Trust That Lasts … Forever? Several decades ago, most of us felt that we had fully completed our estate planning if we wrote a will that dictated who would receive which of our assets upon death. As estate-planning laws evolved to offer more options, and public awareness of estate planning options grew, more people opted…Read More

Most people are aware that probate should be avoided if at all possible. It is an expensive, time-consuming process that exposes your family’s private matters to public scrutiny via the judicial system. It sounds simple enough to just gift your property to your children while you are still alive, so it is not subject to probate upon your death, or…Read More

Creating a Will is not a one-time event. You should review your will periodically, to ensure it is up to date, and make necessary changes if your personal situation, or that of your executor or beneficiaries, has changed. There are a number of life-changing events that require your Will to be revised, including: Change in Marital Status: If you have…Read More

Are parents and adult children responsible for each other’s debts? Indiana is one of approximately 28 states that have filial responsibility laws. Modeled after centuries-old English laws, these provisions have not often been applied in modern times, but they are still “on the books.” Indiana’s filial responsibility law provides that if a child is financially able and a parent is financially unable…Read More

The recent economic recession, and staggering increases in health care costs have left millions of Americans facing incredible losses and mounting debt in their final years. Are you concerned that, rather than inheriting wealth from your parents, you will instead inherit bills? The good news is, you probably won’t have to pay them. As you are dealing with the emotional…Read More

The irrevocable Medicaid Asset Protection Trust has proven to be a highly effective estate planning tool for many older Americans. There are many factors to consider when deciding whether a Medicaid Asset Protection Trust is right for you and your family. This brief overview is designed to give you a starting point for discussions with your loved ones and legal…Read More

Like most governmental benefit programs, there are many myths surrounding Medicaid and eligibility for benefits. One of the most common myths is the belief that only 50% of the funds in a jointly-owned bank account will be considered an asset for the purposes of calculating Medicaid eligibility. Medicaid is a needs-based program that is administered by the state. Therefore, many…Read More

Should You Appoint A Loved One Or A Professional As An Executor/Trustee? If you are currently involved in creating an estate plan you might be faced with a will or trust in the near future. If either of these documents is used in your planning you will have to choose a representative to administer it according to your terms. Because…Read More