Indiana Elder Law News

Indiana Medicaid Planning
Major changes in federal Medicaid law (Deficit Reduction Act of 2005) are still being implemented in Indiana. These changes will have a major impact on Medicaid planning. The look back period will be extended from thirty six months to sixty months. Major changes to ability to transfer assets are expected.
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Indiana Estate Planning
If you die without a will in Indiana, state law provides a 'will' for you (called intestate succession). For a person married with children, the surviving spouse can expect to keep only half of the probate assets with the rest being given away to immediate family members. Few people want this outcome. This is why it is vitally important to have a valid will in Indiana.
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Indiana Long Term Care Insurance Program
The Indiana Long Term Care Insurance Program (ILTCIP) is an innovative partnership between the State of Indiana and private long term care insurance companies. Indiana has taken the lead in helping its residents protect their hard-earned life savings from the high cost of long term care.
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Avoid Indiana Probate
There are easy and powerful things you could be doing right now to keep most of your assets out of probate. These methods don't require living trusts.
More Information On Indiana Wills
Medicare Issues
No more waiting lists and additional support for transportation, nutrition and housing services are key parts of the State's Aging Reform Agenda in 2008. Steve Smith, director of the FSSA Division of Aging, noted that wait lists are being reduced already. The goal is to eliminate the lists totally in 2008. By using more State funds to leverage Federal matching dollars, 8,000 older Hoosiers from the wait list are now receiving services.

What Three Things Every Indiana Estate Plan Needs.

The knowledge that we will eventually die is one of the things that seems to distinguish humans from other living beings. At the same time, no one likes to dwell on the prospect of his or her own death. But if you postpone planning for your demise until it is too late, you run the risk that your intended beneficiaries those you love the most may not receive what you would want them to receive whether due to extra administration costs, unnecessary taxes or squabbling among your heirs.

This is why estate planning in Indiana is so important, no matter how small your estate may be. It allows you, while you are still living, to ensure that your property will go to the people you want, in the way you want, and when you want. It permits you to save as much as possible on Indiana and Federal taxes, Indiana court costs and attorneys' fees; and it affords the comfort that your loved ones can mourn your loss without being simultaneously burdened with unnecessary red tape and financial confusion.

All Indiana estate plans should include, at minimum, three important estate planning instruments: a durable power of attorney and a will. The first is for managing your property during your life, in case you are ever unable to do so yourself. The second is for the management and distribution of your property after death. In addition, more and more, Hoosiers also are using revocable (or "living") trusts to avoid probate and to manage their estates both during their lives and after they're gone. The third is a durable power of attorney for health care designate someone you choose to make health care decisions for you if you are unable to do so yourself.

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