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We’ve all heard the saying, “The only things certain in life are death and taxes.” But what’s truly unfortunate is there are taxes after death! However, there are some trusts that can reduce the tax liability for your beneficiaries. What is a generation-skipping...
Those who benefit from intergenerational wealth or achieve career success may have ownership over valuable resources. They need to plan carefully to pass those resources on to their chosen beneficiaries. Many people can achieve their legacy goals with a will, but...
When you have an adult child with special needs, it’s not unusual to worry about their future after you’re gone. That’s why a lot of parents in that situation create special needs trusts to provide for their comfort and care. When you create a trust, of course, you...
An inheritance can be positive for a beneficiary or heir. What they receive after a loved one dies can help them pay off financial obligations like student loans or make important moves that they previously struggled to complete, such as buying a home or finishing a...
A trust is a legal arrangement that allows grantors to distribute assets to beneficiaries. A trust is managed by a trustee, who holds assets on behalf of the grantor. Many trusts are used to avoid probate, estate taxes and challenges. Another benefit of a trust is to...
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...