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Typically, a special needs trust can be established without a specified expiration date. This means that it is going to last until the beneficiary passes away. Exactly what happens at that point depends on what type of special needs trust has been established. For...
Both adult children and their parents are usually well aware that those children are going to inherit their parents’ assets. These could be strictly financial assets like investments, savings or even life insurance policies that will pay out upon the person’s passing....
A trustee takes responsibility for managing trust property and carrying out the terms you’ve established for beneficiaries. Choosing the right person or institution can, therefore, affect how effectively your trust operates for many years. When creating an Indiana...
If you have a large estate, you may want to support a cause that matters to you while still leaving a meaningful inheritance to your family. Balancing those two goals may be difficult. You can use a will, a trust or both to leave property to family and charity. The...
When someone makes an estate plan, it is important that they are not influenced by outside sources or individuals. They need to have the free will to draft the estate plan exactly the way that they want. If someone else manipulates them or convinces them to make...
Electronic information plays a larger role in today's daily life, and many people now hold valuable online property. Planning for these items when creating a will is essential for a solid estate plan. Digital assets vary widely, so a will should address each category...
According to some reports, it is actually not that common for Americans to have a will or an estate plan. These reports claim that roughly two out of every three Americans have not made a plan yet, so only around 33% of Americans have a will on file. This can create...
Many people associate trusts with the wealthy. They assume that people must have enough liquid capital to set aside tens of thousands of dollars or more as trust funding. For those creating a trust for specific purposes, such as special needs trusts for the support of...
Many people believe that creating a trust eliminates the need for a will. While a trust is a powerful estate planning tool, it does not replace every function of a will. If you live in Evansville or Southern Indiana, having both documents can help ensure your estate...
Estate planning often starts with determining how you want your assets to be passed on to the next generation. You can name beneficiaries who are supposed to receive specific assets, put certain assets into trusts, set up donations to charities and much more. But one...