Personalized Solutions For Your Estate Planning Needs

Estate planning in the Fort Wayne, Indiana, area requires legal guidance responsive to the unique facts presented by each situation. There is no such thing as one-size-fits-all estate planning because one simple detail can change the entire structure of an estate plan.

Attorney Robert Grubbs will work with you personally to help you understand your options and choose the solution for your planning needs.

Your Choice For Medicaid Planning And More

When you work with Robert, you work with an attorney that maintains a vigorous estate planning practice. His compassionate style can help you manage a number of important areas, for instance:

• Medicaid planning
• Wills
• Powers of attorney
• Health care directives

Robert’s personalized approach to estate planning makes him particularly adept at assisting you when you are considering your options with respect to Medicaid planning. Especially if you have been told by other practitioners that you are not eligible, reach out to Robert. He will perform an in-depth analysis of your circumstances to help you see what actions the law provides for you to manage your circumstances when it comes to eligibility issues.

Frequently Asked Questions About Estate Planning

Estate planning can seem overwhelming, but having the right information can make all the difference. Below, we address some common questions to help you understand your options and the importance of estate planning.

What is a will? Do I need a will?

A will is a legal document that specifies how you want your assets distributed after your death and allows you to appoint a guardian for any minor children. It ensures that your financial and personal affairs are handled according to your preferences. Having a will is essential for everyone, regardless of estate size, as it directs the distribution of your assets and appoints a guardian for dependents.

Without a will, Indiana’s intestacy laws determine how your estate is divided. This often results in:

• Assets being distributed among relatives, potentially including distant family members.
• Your estate goes to the state if no suitable relatives are found.

By having a will, you can specify exactly who should receive your assets and avoid potential conflicts or unintended distributions.

Is trust the right choice for me?

A trust is a legal arrangement where a trustee manages and distributes assets on behalf of beneficiaries. There are two main types of trusts:

• Revocable trusts: These trusts allow you to maintain control over the assets during your lifetime. You can make changes to the trust or dissolve it entirely if your circumstances change.
• Irrevocable trusts: Once established, these trusts cannot be altered. They offer a permanent solution for protecting your assets and can provide tax benefits.

Trusts can be particularly beneficial in several situations:

• Managing complex assets: If you own a business or investment property, a trust can help manage and distribute these assets efficiently.
• Protecting assets for minors or special needs beneficiaries: A trust can ensure that funds are managed responsibly and distributed according to your wishes.
• Medicaid planning: Trusts can be part of a strategy to manage your assets and potentially qualify for Medicaid benefits.

Consulting with the attorney at Grubbs Law Office can help you assess whether a trust fits your specific needs and goals, providing a tailored approach to your estate planning.

Do I need to update my estate plan?

An estate plan is a crucial tool for making sure that your assets are distributed according to your wishes and that your loved ones are taken care of. However, creating your estate plan isn’t a one-time task — it needs regular updates to reflect changes in your life. Key situations when updating your estate plan may be necessary include:

• Divorce: If you go through a divorce, you’ll want to update your estate plan to reflect changes in relationships. This may include removing an ex-spouse as a beneficiary, revising guardianships, and updating other provisions.
• Death of a family member: The passing of a loved one can impact your estate plan. If someone named in your will or trust passes away, it’s important to make adjustments to avoid confusion or conflicts.
• Health events or special needs: Significant health events, like the diagnosis of a chronic illness or the development of special needs in a family member, may require updates. You might need to set up trusts or designate power of attorney to help ensure proper care and management of assets.
• Major business or real estate transactions: Your estate plan should reflect significant changes in your business or real estate holdings. This might include the sale of a property, inheritance or changes to business interests.
• Birth of a child or grandchild: When a new family member is born, you’ll want to make sure your estate plan includes provisions for their care, such as naming a guardian, creating a trust or updating beneficiary designations.
• Change in financial situation: If your financial situation changes due to a promotion, inheritance or other reasons, it’s important to review your estate plan. This may involve redistributing assets or adjusting tax strategies.
• Marriage or remarriage: A wedding often requires updates to your estate plan, including adjusting asset distribution and making sure new family members are provided for.
• Changes in state or federal laws: Legal changes affecting estate taxes, inheritance rules or Medicaid eligibility may necessitate revisions to your estate plan.

Reviewing your estate plan regularly helps ensure it remains aligned with your current wishes and life circumstances. Keeping your plan updated can provide peace of mind, knowing that your loved ones will be properly cared for and that your assets will be distributed as intended. Obtaining legal guidance can be helpful when deciding if an update is needed to keep your estate plan effective.

Learn More About Grubbs Law Office

Call Robert to schedule a free initial consultation with him to discuss your legal needs in estate planning matters or if you are concerned about your Medicaid eligibility: 260-702-9207. You can also contact him online to make your appointment with Robert.