Developing a comprehensive estate plan today no longer covers only the distribution and transfer of property and assets. Other factors involved include how medical and financial decisions will be made if you become incapacitated, guardianship for minor children, business succession planning, as well as reducing the taxes for the beneficiaries of the estate. Our Indianapolis & Carmel Based Indiana Estate planning attorneys can guide you through every step of the process.
What is Estate Planning?
Estate planning is the legal process of assessing an individual’s total assets and property holdings, and creating a plan for the transfer of those assets at the individual’s death according to the wishes of the property owner. The primary goal is often to avoid or minimize the estate and inheritance taxes owed when the property passes to the beneficiaries. Planning for the client’s possible future incapacity, as well as the needs of younger family members are also considerations in the estate planning process.
Regardless of the value of your estate, to assure that these and other areas are carried out as you wish means having a will, determining if a trust is appropriate for you, assigning a power of attorney, creating a living will and a medical power of attorney, and addressing the tax liability on your estate by the way you distribute your assets to spouse, children, charitable donations, or other beneficiaries.
Another consideration is the cost and public record of probate court, under which wills are administered, or establishing a trust to lower estate taxes or to cover specific situations, such as a special needs trust.
Our estate planning attorneys stay abreast of the changes in the law. This up-to-date knowledge can have a large financial impact and make the process of planning for the future easier and more secure. We offer impeccable drafting and advice related to:
- Estate Administration
- Living Wills
Indianapolis & Carmel Based Estate Planners
Whether you are preparing for your own future or dealing with the after effects of a loved one’s death, we can help. Our Indianapolis & Carmel based estate planning attorneys are familiar with the continually changing federal and state laws and federal estate tax codes and keep you aware of changes which affect you.