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Establishing a special needs trust (SNT) is crucial to helping ensure that a child with a serious long-term disability or medical condition receives the best possible care and quality of life while you’re alive and after you’re gone. These trusts can be established...
Trusts are set up to preserve assets and protect beneficiaries – and trustees serve a critical function in both those areas. So what happens if you don’t trust a trustee? In certain situations, a trustee’s behavior can and should raise “red flags” that warrant further...
A special needs trust (which is also called a “supplemental needs trust”) is a particular kind of irrevocable trust that is designed to enhance the quality of life for people with disabilities who rely on government programs like Supplemental Security Income (SSI) and...
When someone expects to inherit, either because they are a direct relation or because they were in a previous iteration of an estate plan, they are being disinherited if they are removed from that plan. Often, the person who is doing this will use a disinheritance...
There are many tools you can use for estate planning in Indiana, two of which are pour-over wills and living trusts. Both can help you transfer your assets to your loved ones after you pass away, but they work differently and have different advantages and...
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...
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...
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...