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FORT WAYNE, IN For Top Lawyer – Super Lawyer  Theodore T. Storer, of BEERS MALLERS, LLP, in Fort Wayne, Indiana, has been honored among Indiana’s Top Lawyers for 2022.  He was listed in the latest edition of 2022 Indiana Super Lawyers under Employment and Labor and has been selected by his peers as a Super Lawyer every year since 2017 in Employment and Labor or General Litigation. Storer has practiced law for over 27 years and has extensive experience in civil litigation on behalf of individuals, small businesses, and large corporations.  For Top Lawyer – Rising Star Ryan M. Gardner, […]

In recent years, more attention has been given to the threat of senior financial exploitation. Unfortunately, it is all too frequent that caregivers and persons acting under a financial power of attorney for a senior use their positions of influence and power to take the senior’s money for their own benefit.  Financial professionals may be the first to notice suspicious patterns of unusual activity on a client’s account, like atypical withdrawals or a sudden interest in risky assets that do not track with the client’s previous investing policies.   In the past, such professionals hesitated to take action out of concern […]

As executor, you are responsible for carrying out the terms of your uncle’s will and overseeing the administration of his estate. Your duties will vary depending on the complexity of the estate, but generally, you are in charge of inventorying his assets, paying any debts and taxes due, then transferring what’s left to those entitled to it. A good starting place is to locate important documents including death certificate, Will, and any Trust Agreement. You will also want to gather documentation of assets such as current bank statements, investment statements, deeds, life insurance policies, certificates of title, etc.Next, speak with your […]

My husband and I are in our 80s and we are worried that we will not have enough to live on if one of us should need to pay for home health care or nursing home bills.  Can we do anything or is it too late? It is never too early or too late to do financial and estate planning.  It is true that the earlier you start the more options are available to you, but even when you get a later start, there is still very effective planning that can be done and wonderful savings achieved.  Medicare, supplemental medical […]

Question:        Is there a new law that requires me to change my current health care representative appointment and living will documents? Answer:        There is a new law that was enacted in 2021, which became effective July 1, 2021, that allows Indiana residents to combine their medical durable power of attorney, health care representative appointment document, and living will advance directive all into one comprehensive form. However, you are not required to take advantage of this new law if you previously executed otherwise legal and valid documents up to December 31, 2022. Thereafter, all Indiana residents desiring to utilize the […]

I am asked by clients all the time the question: Do I need a Trust to avoid probate in Indiana? The simple answer is: No. The more accurate answer is: It depends.Probate is the legal process by which a court of competent jurisdiction appoints an executor / administrator / or personal representative (synonymous terms often used interchangeably), to pay expenses of a decedent; and, to gather, collect, value, and transfer assets of a decedent to the next of kin or properly designated heirs. This process is public and can become cumbersome, lengthy, and expensive. Trusts are often used to legally […]

A “living trust” is the name frequently given to a revocable trust used in estate planning as an alternative to a will. The downside to a will is that for a will to be valid and effective to transfer property at one’s death, the will must be “probated.” Probate is a formal court proceeding that is expensive and often ties up the decedent’s estate for many months, while the beneficiaries wait for their inheritance. A “living” trust avoids probate. An individual can establish his/her own individual living trust, or spouses, if they wish, can establish one trust together called a […]

The current federal gift tax exclusion allows you to give away up to $15,000 per person annually, to as many individuals as you wish. Whether you will benefit from utilizing this exemption depends on your assets, but for most, at least those with assets under $11.7 million, gifting $15,000 annually does not result in a tax reduction.The federal government imposes taxes on gifts made during your lifetime and/or at death that exceed certain dollar amounts. The current lifetime exemption for 2021 is $11.7 million per person. This means you have the ability to gift a total of $11.7 million ($23.4 […]