It's not uncommon for parents to pass down assets such as an Indiana home, a bank account or a car to their children. If you have grandchildren, it's a good idea to consider how you might want to transfer assets to them as well. Fortunately, there are many strategies...
Estate Planning
How property trusts work
A trust is a legal framework that owners can use to protect their assets during estate planning. Assets that can be placed in a trust include expensive jewelry, land, residential real estate, commercial property and vehicles. If you're an Indiana resident creating or...
When to update your estate plan
Many people in Indiana understand the importance of estate planning. However, some people create estate plans and subsequently fail to review them and make needed adjustments when the circumstances of their lives change. If you do not update your estate plan when you...
Why estate planning matters
If the state of Indiana considers you to be a legal adult, it's important that you have an estate plan in place. This is true even if you don't have a significant amount of money or valuable assets. In addition to managing your assets, an estate plan may allow you to...
Is an irrevocable trust right for you?
Creating a will or trust is a major decision that many individuals in Indiana make at least once in their lives. With an irrevocable trust, you will no longer own the assets or funds you are designating once you sign the trust itself, making it a slightly different...
Considerations to avoid probate in Indiana
Do you want to plan your estate to avoid probate? This court-supervised process of administering your will according to your wishes can sometimes delay the transfer of property to your heirs. Review the rules about probate in Indiana and strategies to help expedite...
How a special needs trust protects your child with a disability
When your child has special needs, you may need to make additional efforts to make sure your son or daughter has enough to get by on well into adulthood. Many Indiana parents who have children with disabilities help plan for their futures by using special needs...
How to prevent future family disputes when creating your estate plan
Disputes about the disposition of an estate can cause significant disruption to family relationships. People who feel excluded or treated unfairly may come to resent family members who inherited more than they did. Furthermore, they may attempt to invalidate a will,...
How do advance directives work?
Consider what might happen if you were suddenly incapacitated by illness or injury. If you were unable to communicate your wishes about medical treatments and care to others, healthcare staff and your family would be responsible for making tough decisions on your...
Common estate planning mistakes to avoid
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...