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...
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Is a no-contest clause in a will actually effective?
A no-contest clause in a will is designed to discourage beneficiaries from filing a formal challenge to the validity of the document. If a beneficiary contests the will and loses, the clause typically allows the court to disinherit them. A no-contest clause is...
When a will names an unknown child
Few situations inspire more shock during probate proceedings than discovering that a will names a child that no one in the deceased’s family knew existed. In Indiana, these situations can quickly lead to emotional conflict, legal disputes and serious questions about...
Showing that a testator lacked capacity when signing a will
For a will to be valid after a testator dies, it must conform to numerous legal requirements. One of the most critical is that the person who drafted the document was a legal adult testator who was of sound mind. People expecting to inherit from an estate are...
3 issues that can lead to estate disputes and conflicts
For many people who are writing a will, the goal is to avoid conflicts among family members. They do not want their adult children and other beneficiaries to enter into disputes after they have passed away. With this goal in mind, it is important to consider some of...
Can a stepchild challenge a parent’s will in Indiana?
Disagreements over a parent’s will can surface quickly in blended families, especially when stepchildren are left out or treated differently. Indiana law allows will contests in limited situations, but only if you have the right legal standing and a valid reason....
Is a no-contest clause enforceable in Indiana?
A no-contest clause in a will aims to discourage beneficiaries from challenging it by putting their inheritance at risk if they choose to contest it and lose. It might seem like a sure way to prevent unnecessary disputes over your final instructions, but is it...
What is an incentive trust?
A trust is a legal document that helps protect estate assets. A trustee is designated in a trust to manage and distribute trust funds. A trust works very similarly to a will. However, one of the key differences is that a trust can be used for particular purposes. One...
What is undue influence on an estate plan?
Estate planning is done so you can make your wishes known. This includes outlining how you want your assets distributed after you pass away. There are many things that go into creating this plan, and many requirements for people who are handling his matter. Every...
How to protect your assets from nursing home costs
Did you know that the average cost of nursing home care in Indiana exceeds $7,000 a month? For many married retirees, a single long-term care stay can quickly drain a lifetime of savings. Retirement accounts, home equity and personal savings often disappear within...
