The estate planning process requires meticulous consideration and preparation to maximize its protections. Any mistakes you make when drafting your estate planning documents may override your final instructions and leave your heirs without some or all of their...
How should you plan to manage estate taxes?
One of your main goals in estate planning is to preserve as many of your personal assets as is possible to pass on to your beneficiaries. You can accomplish this by providing the means through which creditors receive payments upon your death and planning to avoid...
Should a family member be your estate executor?
Indiana residents like you spend a lifetime of effort building up your estate. It makes sense then to put just as much care and effort into crafting your estate plan. To do this, you must start off with a strong foundation. This means selecting an estate executor who...
Powers of attorney provide peace of mind for you and yours
Along with a will, powers of attorney are basic estate planning tools that provide peace of mind for people of any age. However, POAs are especially important for older people who might require assistance for both their healthcare and financial needs. The POA...
Should I put my adult child on my deed?
If you are in the process of estate planning, it is likely that you are doing all you can to help your heirs avoid probate. Probate can be expensive and time-consuming. Many people also dislike the public nature of probate. One way to avoid probate with your property...
Making certain your estate plan is the right plan
You have an estate plan in place, so you might think you can sit back, relax and not worry about the future. That could be a major mistake on your part. Establishing a plan to begin with is vital, true. However, it can be just as important to make sure your estate...
What are revocable and irrevocable trusts?
You may have decided to create a trust as part of your estate plan. But if you have no experience with trusts, you might not realize that the kind of control you will have over your trust depends on the kind of trust you create. While many trusts exist, generally they...
Why you should revisit your estate plan amid divorce
Spouses often give one another large roles in their estate plans. If that's your situation your marriage falls apart, however, you need to review your estate plan. If you gave your spouse certain powers, such as power of attorney, during your marriage, you may want to...
How can an estate plan can help when you are alive?
One of the biggest misconceptions about estate planning is that it is only a plan for what happens after your death. The truth is your estate plan can be much more than that. The Business Journal explains that if you utilize your estate plan correctly, it can be the...
How long can it take for beneficiaries to receive property?
The differences between a will and a trust can cause confusion regarding how quickly property transfers to beneficiaries. A will written in Indiana, for example, requires the executor to settle the estate through the probate court. This could take between six months...
