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A qualified disability trust is a type of trust, most often set up for someone with special needs, and it qualifies for tax exemptions in Indiana. The earnings from all trusts were subject to income taxes, a situation that changed in 2003 when Congress permitted some...
If you're like most Indiana residents, you've worked hard to establish your estate. Some people use trusts to provide for their loved ones. However, you can also use a charitable trust to make the most out of donations to charities. Determining the right type of trust...
When an Indiana resident passes away, their estate in most cases goes through the probate process. During probate, the decedent’s last will and testament is verified, and the estate's debts are settled. If the will is contested by one of the beneficiaries, a...
Estate planning is something that any adult living in Indiana can benefit from. For instance, having a medical directive makes it more likely that your wishes will be respected if you can't talk to a doctor directly. Having a will or trust can help to ensure that your...
If you have a business, real estate or any kind of investment assets in Indiana that you may want to leave for your loved ones, you may want to consider setting up a trust. A trust is a legally binding arrangement in which one party holds assets on behalf of another...
Anyone who is a legal adult of sound mind can serve as the administrator of your Indiana estate after you pass away. If you're like most people, you'll probably choose an adult child, a sibling or some other close family member to serve in this role. However, it may...
In Indiana, a qualified terminable interest property (QTIP) trust is an estate planning tool that allows individuals to provide life-long income for their surviving spouse while maintaining control over the final distribution of their assets. Understanding the aspects...
When someone decides to engage in estate planning, the person is likely familiar with the general concept of a last will and testament. Exploring estate planning options may uncover the importance of a power of attorney and health care proxy document. Others may...
As you weigh the various components of estate planning in Indiana, you'll encounter unfamiliar and confusing terms involving ways to protect your assets. An irrevocable life insurance trust (ILIT) is one of those terms. Here is what you need to know about creating...
Planning for the financial distribution of your assets after you pass can be unpleasant for many parents. Children simply are not always in the same place in life and have different needs. For this reason, parents in Indiana and around the country must rely on good...