Dear Family, Friends & Colleagues,


Once again, it feels as if Winter has departed and Spring is holding us in its warm embrace.  We look forward to active time under the sun  - and leisurely days seeking the shade!  Yet, even as we look ahead, May reminds us of some of the things that are truly important: our Mothers and the memories of those who have passed on before us.

With those thoughts in mind, this month's newsletter focuses on families.  The articles on home ownership options when parents and adult children live together, and adult day care services for those times when caregivers need a break are relevant for the many who are in this situation. For the children of those parents, an article about new options in retirement savings and the dangers of creating a will without the assistance of an attorney provide guidance on tasks for the benefit of their families. We hope our selections have some relevance for your individual situation. If not, know that our firm is always here to provide you with counsel.
We welcome the opportunity to serve the people you care about.  Click on the "Forward to a Friend" button at the top of the page to send this newsletter to someone who will benefit from our insights. If you are a facebook user, please like us on our facebook page.  
If you are part of an organization that is looking for a speaker, our attorneys are happy to share their knowledge with the community.  Contact Amy Cuomo at our office for more information.


Severns Associates, P.C.


Elder Law News from Severns Associates, PC
May 2014  



What Are the House Ownership Options When Parents and Adult Children Live Together?


Increasingly, several generations of American families are living together. According to a Pew Research Center analysis of U.S. Census data, more than 50 million Americans, or almost 17 percent of the population, live in households containing two adult generations. These multi-generational living arrangements present legal and financial challenges around home ownership.


Multi-generational households may include "boomerang" children who return home after college or other forays out into the world, middle-aged children who have lost jobs in the recent recession, or seniors who no longer can or want to live alone. In many, if not most, cases when mom moves in with daughter and son-in-law or daughter and son-in-law move in with mom, everything works out well for all concerned. But it's important that everyone, including siblings living elsewhere, find answers to questions like these:



Federal Government Creates New Retirement Savings Option: myRA


In his 2014 State of the Union message, President Obama announced a new retirement savings program for people who do not currently have an employer-sponsored plan. The new investment product, called myRA, is a starter savings account aimed at low- and middle- income workers.


Similar to a Roth IRA, the myRA accounts will allow workers to invest money after tax and withdraw the money in retirement tax-free. Unlike a Roth IRA, however, the savings will be backed up by U.S. Treasury bonds, so investors will never lose their principal investments. 


  Read more 


Case Illustrates Dangers of Executing a Will Without Legal Assistance


People sometimes try to save money by not consulting with a qualified attorney when executing their will, instead using a pre-printed form or online program.  A recent court case offers yet another example of the hazards of doing this. Deciding the long-running case, the Florida Supreme Court has ruled that money acquired by a woman after she used a form to execute a will should be distributed as if she had never made a will at all.  A justice hearing the case called it "a cautionary tale of the potential dangers of . . . drafting a will without legal assistance."  

Adult Day Care: Providing a Break for Caregivers


"There are only four kinds of people in the world. Those who have been caregivers, those who currently are caregivers, those who will be caregivers and those who will need caregivers." 

- Rosalynn Carter


Caregiving can be difficult, unrecognized work and it is easy for caregivers to get burned out. Statistics tell us that one out of every four Americans is caring for a loved one at home.  Adult day care centers provide care and companionship in a group setting to seniors who need supervision during the day, allowing their caregivers to go to work or take a much-needed break.   

 Read more



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In This Issue
What Are the House Ownership Options When Parents and Adult Children Live Together?
Federal Government Creates New Retirement Savings Option: myRA
Case Illustrates Dangers of Executing a Will Without Legal Assistance
Adult Day Care: Providing a Break for Caregivers



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Traffic Update

US-31/Meridian Street in Hamilton County is undergoing a transformation over the next few years to a freeway. Currently, it is closed for construction from 126th to 136th Streets, with detours clearly marked.  Later in the process, access from I-465 will be suspended and ultimately, 103rd street, where our office is located, will no longer intersect with US-31/Meridian Street. 

There are signs in place on I-465 and US-31/Meridian Street announcing road closure with access only to local traffic, but if you are coming to our office from the South, you will not be affected by this construction. Coming from the North, please follow the marked detours. We will keep you updated with more changes as they occur, but in the meantime, you can continue to access our office from any direction. For more information about this project, visit Hamilton County's New US31 website  

If you answer yes to any of these questions, Severns Associates can help.  

-Has a family member been diagnosed with a mentally or physically debilitating disorder such as Alzheimer's, Parkinson's, ALS, stroke or a decline in functional capacity?


-Is a family member isolated due to the recent death of a spouse, or have family that either lives too far away or is too busy to provide adequate care?

-Is a family member soon to be discharged into a care facility or currently receiving in-home care?

-Does a family member have a variety of healthcare providers and need coordination and advocacy for quality care?

-Does a family member seem unusually concerned about costs of medication and services, indicating he or she may be having financial troubles?

-Does a family member have assets that fall between $50,000 and $400,000 - enough to finance a short stay in a care facility but not enough for an extended stay?

-Does a family member have a spouse whose financial needs must be considered in light of a family member's medical condition? 


About Our Law Firm
Severns Associates, P.C. is an elder law firm that has been practicing for over 30 years, and is regarded as one of the most experienced elder law firms in the Indianapolis region.  We focus on helping families work together without conflict to plan for both immediate and future needs. 
Our services include:
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Severns Associates, PC
10293 N. Meridian Street Suite 150
Indianapolis, Indiana 46290