A significant percentage of Americans do not have an estate plan. A survey done by D.A. Davidson & Co. showed that only 34% American adults have an estate plan. That’s one in three people, which means two-thirds do not have it. Although many people acknowledge...
Age Gracefully With A Plan In Place
Estate Planning
2 ways to outline future medical choices in an estate plan
It’s easy to forget that estate planning is not just about what happens when you die. It should also outline your choice of emergency medical care if you suffer a serious injury or illness that leaves you unable to state your wishes and direct your own care. Without...
Tips for choosing the right estate executor
When you create an estate plan, one important step is to choose an estate administrator or estate executor. Once you pass away, this person is in charge of distributing documents, inventorying assets, paying taxes and taking other necessary steps to settle your...
Does Indiana recognize holographic wills?
Holographic wills are among the most common testamentary instruments. Also known as handwritten wills, holographic wills are documents entirely in the handwriting of the testator establishing their estate plan. Some states have statutes that impose completely...
3 reasons most people do not have an estate plan
It could be argued that everyone over 18 should have an estate plan. However, the majority of people in the United States do not. This doesn’t necessarily mean that they don’t care about estate planning or understand its importance. But it still means they have not...
Understanding the trade-offs of an irrevocable trust
An irrevocable trust is an estate planning tool that can help safeguard your assets, plan for healthcare or long-term care costs and minimize the tax burden on your estate. That said, it comes with certain compromises. Think of it as a give-and-take. To enjoy the full...
Estate planning during a crisis: why it’s almost never too late to start
Life can change in an instant. Whether it's a sudden illness or a serious accident. It can all turn upside down in an instant and leave you feeling overwhelmed. During these moments, it’s natural to focus on the immediate situation. However, planning for the future,...
How to prevent adult kids from fighting over family heirlooms
Planning your estate goes beyond distributing money and property. Family heirlooms often hold deep sentimental value, and disputes over these items can create lasting conflicts among adult children. Thoughtful planning can help ensure that treasured possessions are...
Minimizing “inheritor’s guilt” as you prepare your estate plan
If you’re preparing to put your estate plan in place, you understandably feel good if you can leave your loved ones significant assets. However, if the inheritances will be far greater than they’re likely expecting, there are good reasons for preparing them – both...
Don’t neglect your safe deposit box in your estate planning
If you’re preparing to put your estate plan in place, it’s important to make sure you address all your assets in one way or another. Don’t forget any assets you have stored away in a safe deposit box at a financial institution. Safe deposit boxes aren’t as frequently...