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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...
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...
Most people in Indiana get married with a solid plan for their future, including when to buy a home, how to improve their finances, and when and how many kids to have. However, it is not uncommon to find that 15 years down the line, you have an unexpected, wonderful...
When you own a home in Indiana, it may be helpful to put it in a trust. This option allows it to stay out of probate after you pass away. Doing so can make transferring the property to your desired beneficiary easier, saving time and money. Place your home in a trust...
If you are the parent of a special needs individual in Indiana, you probably wonder how your child will get along after your death. Special needs individuals often require specialized care throughout their lives, so meeting your child's needs is essential. Many people...
Living in an Indiana nursing home may be expensive even for those with a sizeable nest egg. Government programs such as Medicaid may help to cover some or all of the costs associated with doing so. However, income limits and other restrictions must be met before you...
Indiana law allows you to create an inter vivos trust as part of your overall estate plan. One of the key benefits of such a trust is that you can name yourself as the trustee, which means that you have control over trust assets during your lifetime. When you pass...
Many Indiana adults include trusts in their estate plans to avoid probate, reduce federal estate taxes and ensure that their assets are distributed according to their wishes after they pass away. Trusts were once commonly used to divide income among several...