Adults who create estate plans can’t assume that these are make-it-and-forget-it events. Instead, there are specific times when an estate plan must be updated. One of these is when a person goes through a divorce. Indiana state law specifies that the terms of a...
Age Gracefully With A Plan In Place
Estate Planning
What happens if you die intestate in Indiana?
Many adults know the importance of having an estate plan, but that doesn’t mean that they make one right away. If you haven’t created an estate plan yet, you need to understand what may happen if you die without one. Dying without an estate plan is known as dying...
Who should you choose for a medical agent?
When you create a medical power of attorney, you designate someone to act as your agent. Legally, this person has the authority to make medical decisions on your behalf—but only if you become incapacitated and cannot make them yourself. Choosing the right person for...
Estate planning can help to prevent financial abuse
Financial abuse of older adults is a growing concern, often perpetrated by those closest to them—family members, caregivers or even trusted professionals. It can take many forms, including theft, coercion, fraud or unauthorized use of funds and assets. Fortunately, a...
Is it rude to ask a parent about their estate plan?
If your parents are getting on in life, you might be wondering whether they have an estate plan in place. The obvious way to find out the answer would be to ask them. But, if you are like many people, you may feel hesitant, lest they think it is rude of you to ask....
Set your plans in case you become incapacitated
Nobody thinks about possible incapacitation, but it’s one circumstance that you need to think about when you’re planning your estate. While most people focus on setting up the plan for asset distribution after their death, setting the plan for what should happen if...
What are the benefits of establishing an irrevocable trust?
Creating an estate plan is one of the most important things people can do once they reach adulthood. While many people focus on their will, there’s another option they should consider for passing down assets. Some people opt to establish and fund a trust to get assets...
Young adults, you need to draft a digital estate plan
Most American adults are increasingly tied to online platforms, both for work and personal reasons. From social media profiles to cryptocurrency wallets, these digital assets can potentially represent both emotional and financial value. For young adults, creating a...
Can I leave assets to an irresponsible heir?
Estate planning can allow you to provide for loved ones while ensuring that your legacy lives on. However, heirs who struggle with managing finances may present a challenging dilemma. You wish to provide for them, but also have valid concerns about how they might...
How to deal with the emotions of estate planning
Drafting an estate plan can be emotional. It's one of the reasons some people procrastinate doing it, as it's not easy planning for death or incapacitation. Nonetheless, you can manage the emotional side of estate planning and, in turn, protect your legacy and loved...