LEGACy Law OFFICE
Problems can arise when people fail to coordinate their beneficiary designations and/or joint accounts with their overall estate plan. Beneficiary designations always take precedence over what is stated in your Will. Those assets will transfer to your heirs automatically upon your death and are not subject to the terms of your Will. That is why we work closely with your financial advisor, accountant, and other professional advisors to create the most complete estate plan possible.
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A guardianship describes the court process of appointing a responsible person to look after the personal care and/or financial affairs of someone who cannot do so on their own. A guardian can be appointed by the probate court to manage the interests of any of the following individuals: elderly person with dementia or other incapacity, developmentally disabled person, accident victim, mentally impaired individual, or a minor who comes into a substantial amount of money. One of our attorneys would be happy to discuss the specifics of your situation with you to help you decide if you want to pursue a guardianship.
Your estate includes anything that you own. This includes things like real estate, business interests, personal property, bank accounts, retirement accounts, life insurance proceeds, and payments that are owed to you.
If you die without a valid Will or Trust, you are deemed to have died “intestate.” In general, this means the State of Indiana will statutorily dictate who will inherit your assets. You no longer have control over who receives your assets or how those assets will be distributed.
6303 Constitution Drive
Fort Wayne, IN 46804
Phone: (260) 440-3241
Fax: (260) 440-3242
Monday, Tuesday, Thursday 9:00-5:00
Wednesday, Friday 9:00-3:00
Estate or trust administration is the process that enables the payment of final expenses and debts, distribution of assets to the individuals or entities named in the Will or Trust, and closure of the decedent’s financial affairs. At Troyer & Good, we provide comprehensive legal services to the Personal Representative (or Trustee) and beneficiaries throughout the entire administration, including: filing required documents with the probate court, giving notice to creditors, evaluating and making an orderly payment of estate claims, identifying deceased person’s property, obtaining appraisal of property, preparing the accounting, properly distributing assets, and closing the estate.
There are currently eight free forms available to anyone. The Asset Disposition Table is for those who have lost a loved one in death. It helps the Personal Representative know where the decedent's assets go. The Serving as Attorney-in-Fact form gives some basic guidelines to those who have been appointed as Attorney-in-Fact. The Indiana Medicaid Information provides an overview of Medicaid in Indiana. The Guardianship FAQ answers over 20 common questions you may have if you have been appointed as a Guardian. The Information for My Heirs is a packet where you can keep all of your personal information in one place for your Personal Representative after you die, making it much easier on your Personal Representative and family. The Review Questionnaire is for those who have a current estate plan in place to see if they need to update their documents. The Memorandum of Personal Property is a document you keep with your Will to dictate who you want to receive your personal items. The Funeral Planning Declaration is a legal form expressing your wishes regarding funeral planning and the disposition of your body at death. The Long Term Trust FAQ sheet answers common questions about long term care trusts. Lastly, the Dying Without a Will chart outlines how your assets will be disposed if you die without a Will.
Estate planning is the creation of a definite plan for protecting your assets while you’re alive and then distributing them after your death. At Troyer & Good, each client is guided through the estate planning process with a close evaluation of his or her unique goals and desires, family dynamics, and current and projected estate tax liability. At a minimum, the following documents are the necessary components to an estate plan: Last Will and Testament/Trust, Power of Attorney, Living Will, and Advance Health Care Directives. More information can be found at our blog.
There is often a great deal of confusion about the Medicaid application process. Many times, clients come to our office with the mistaken impression there is nothing that can be done to protect assets from nursing home costs. However, they key is to start your Medicaid planning early. Even if you are coming to us at the time of admission to a facility, there are still planning avenues we can take to maximize the benefits available to the spouse and/or applicant.
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