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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...
When preparing an estate plan, some people might not know that they have options other than writing a last will and testament. Creating a revocable or irrevocable trust could be the appropriate decision. Researching the purposes and potential upsides of trusts is...
When someone passes away in Indiana, the distribution of their assets can create conflict between family members. If there is a will or trust in place, it is meant to provide clear instructions for the distribution of assets. However, when the validity or...
Estate planning in Indiana often involves ensuring your loved ones can care for themselves after your death. If your loved ones include people with disabilities, you may consider setting up a special needs trust as part of your estate planning. Definition and benefits...
Of all the innumerable challenges faced by Indiana families that include a member with special needs, perhaps the most profound involves how that particular loved one will receive appropriate care once their parents have passed away. The good news is that by applying...
When a family member has a disability, it can be difficult for them to live independently. They may need help with everyday tasks, and they may not be able to work. This can put a strain on the family, both emotionally and financially. That's where a special needs...
Estate planning involves many steps intended to help the planner and any beneficiaries. Often, beneficiaries receive assets as specified by a will, but some accounts may transfer to named beneficiaries. Life insurance policies also name beneficiaries, and an insured...
A trust is a legal instrument into which assets can be placed in order to provide greater flexibility in asset management or to separate the assets from the current owner for tax or probate reasons. In Indiana, the parties relevant to a trust are the settlor, the...
Many people in Indiana may be concerned about how they will cover the costs of long-term nursing care in the future. For many seniors, Medicaid is an important lifeline to pay for ongoing nursing home care, especially as the cost of such care continues to rise....