When deciding how to distribute assets to your heirs, do you find yourself wondering how your heirs are going to use the money? Maybe you don’t care enough to create an official trust that guarantees it has to be used for one specific thing, such as a college...
Age Gracefully With A Plan In Place
Year: 2022
Do all estates have to go through probate in Indiana?
When your loved one passes away, the last thing you want to think about is dealing with the legal aspects of administering their estate. The unfortunate situation is that there are things that need to be handled, including making an application to probate. This is the...
What should you know about an irrevocable trust?
The estate planning process often involves using more than one method to make sure your loved ones get what you want them to have. While many people might think of the will as the first place to put assets they want to pass down, this is often not the best option....
What does a power of attorney do?
As you make your estate plan, one thing you may consider is setting up a power of attorney. When you do this, the documents allow you to choose an agent. You are giving them – the agent – the power to make decisions for you. The general reason that people do this...
Avoid these 3 mistakes when making your will
You’ve heard that a will can help protect your family and loved ones even after you die and ensure your final wishes are respected. At the very least, drafting a last will can help you spell out how your assets should be distributed once you’re gone. Drafting a last...
3 errors you shouldn’t make in estate planning
Setting up your estate plan requires you to think carefully about what you want to happen when you pass away. Your loved ones will use the plan to determine how to handle your assets. Many people don’t realize that an estate plan is much more than that. Your estate...
3 reasons to update your estate plan
An estate plan is not like a pint of milk. There is no expiration date. However, while it can have a long life (all the way until you die), you might want to replace it with a fresh one every so often. Why do this if it does not expire? Because your situation will...
Why do you need a residuary clause in your will?
No matter how detailed you are in your will about listing the beneficiaries of your various assets, you’re sure to leave something out. Even if you neglect nothing when you draft your will, you’ll likely accumulate other assets later. You don’t want to modify your...
Is it time to appoint a guardian for your aging parent?
As your parent age and lose their ability to care for themselves, you should consider weighing the available options. If anything, you want to be sure that your folks can live as comfortably as possible during their sunset years. For most adult children, the decision...
What’s the best way to help fund your grandkids’ education?
An important part of estate planning is thinking about what kind of legacy you want to pass on to your children, grandchildren and generations to come. Many grandparents believe the best way to help ensure that their grandchildren get the best possible opportunities...