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Many small business owners are great at building and growing a business. As we age, it becomes increasingly important to prepare for retirement and the transition of the business to other partners or family members. Small businesses must be prepared for retirements or the sudden death or illness of leadership. One reason to have a plan in place is for the benefit of your customers or clients. Another reason is to protect your business and any employees from sudden undue hardship caused by your departure. Having a transition plan in place helps ensure that customers and clients are comfortable with […]

If you are married at the time of your death, then yes, your spouse has certain rights to your estate. First, Indiana law automatically grants your spouse a survivor’s allowance. Currently, this allowance amount is $25,000.

A Transfer on Death Deed is a document that is recorded at your local county recorder’s office prior to your passing.  This deed automatically transfers property ownership to the named beneficiaries when the owner of the property dies.  The beneficiary listed on the deed can be one individual, multiple people, or a charity. The main objective of this type of deed is to avoid probate.  After the property owner passes away, an additional document is filed with the local county recorder’s office to transfer ownership in the county records to the beneficiaries.  While this is a great way to avoid probate, […]

Everyone should eventually plan for the end of life by making sure all end-of-life expenses (funeral, burial, etc.), debts, and assets will be addressed as desired. Inadequate or inaccessible liquidity seems to be the most prevalent culprit either because the deceased did not have enough available resources; or quite often those resources are left outside the estate to beneficiaries who refuse to contribute to those expenses. Planning for end-of-life expenses means making sure your personal representative, executor, or Trustee have clear instructions and access to available funds at death. Otherwise, illiquid assets such as real estate and personal property must […]

Promotion Recognizes Legal Excellence in Elder Law and Estate PlanningFORT WAYNE, IN – January 22, 2024 – Beers Mallers, LLP, is delighted to announce the election of Jesica Thorson as a Partner in the Fort Wayne-based firm, effective January 1, 2024.Jesica Thorson earned a J.D. in 2008 from Thomas M. Cooley Law School in Lansing, Michigan, and joined Beers Mallers 15 years ago. Her practice includes Elder Law, Estate Planning and Administration, Asset Preservation, Trust Administration, Veterans Affairs (VA) Aid and Assistance, and Medicaid Planning.“Being promoted to partner is an exciting opportunity, and I am thrilled to grow my elder […]

Promotion Highlights Dedication to Real Estate Law and Client SuccessFORT WAYNE, IN – January 30, 2024 – Beers Mallers, LLP, a leading law firm in Fort Wayne, Indiana, is delighted to announce the election of Mike Hoffman as a Partner, effective January 1, 2024.Hoffman, who joined Beers Mallers in 2018, received his J.D. from Indiana University Robert H. McKinney School of Law in 2012. His practice focuses on Commercial and Residential Real Estate, Construction Law, and General Business.“Being promoted to partner is an exciting opportunity and I am looking forward to growing my practice areas of commercial and residential real […]

Election Showcases Excellence in Elder Law and Estate Planning FORT WAYNE, IN – January 30, 2024 – Beers Mallers, LLP, a leading law firm in Fort Wayne, Indiana, is pleased to announce the election of Troy Kiefer as a Partner, effective January 1, 2024. Kiefer earned a J.D. from Valparaiso University School of Law in 2008, and joined Beers Mallers in 2020. His practice focuses on Elder Law, Estate Planning and Administration, Medicaid Planning, Guardianships, and Special Needs Trusts. “I am honored and thrilled to become a partner at Beers Mallers, LLP, and I look forward to continuing to serve […]

Choosing the right nursing home for a loved one is a significant decision. The goal is to find a facility that ensures the safety, comfort, and well-being of the resident. Firstly, consider the location. A nursing home close to family members allows for more frequent visits, which is vital for the emotional health of your loved one. Regular visits also enable you to monitor the care being provided. Secondly, assess the quality of care. Research each facility’s reputation and track record. Check state health department records for any violations. During visits, observe the interaction between staff and residents and ask […]

Too often we see wealthy widows and widowers preyed upon by a subsequent non-wealthy significant other who abuses a romantic relationship to gain access to the finances and real estate of the wealthy significant other. The dilemmas of these situations are obvious and difficult. For example, the wealthy widow/widower is emotional from the loss of their first spouse but finds comfort in someone who comes along and pays attention to them. Over time, trust is built, and the widow/widower marries the subsequent non-wealthy significant other who eventually gains access to the finances and real estate of the wealthy significant other, […]

Most likely, yes.  In Indiana, a single individual must have less than $2,000 in assets to receive Medicaid benefits. If your inheritance, combined with existing assets, causes your assets to exceed this limit, Medicaid benefits will stop. To reestablish benefits, you must reapply for Medicaid eligibility once the assets are reduced.  Please note that waiving the inheritance, or gifting it to friends or family, will trigger penalties and will also result in a loss of benefits. There are ways to avoid this loss.  One way is to spend the inheritance on goods or services prior to the end of the […]