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When a person dies in Indiana, their personal and real property passes to the deceased's heirs in accordance with the will A foreign will is legal in another state or country. No will can prove the right of possession until it goes to probate. Receipt and recording of...
Estate planning in Indiana offers a variety of options, but you need an understanding of the basics. No matter how you strategize, there are unique ways to reduce taxes, build wealth or privatize it. You don’t need to be a master in estate planning. As long as you...
It’s important to know how much care for a special-needs child truly costs. Parents are flexible when they’re alive and working to care for their children. These parents need something in place so a disabled child still receives care after the parent dies or is unable...
An intentionally defective grantor trust in Indiana is a financial tool that can separate out income and estate taxes for some assets. This helps avoid some of the tax burden falling on the people who will inherit the assets in the trust. It's a way to allow the...
Many Indiana residents haven’t written any type of will at all. In fact, less than half of adults in the country have created this basic estate planning document. Even if you have a will, you should update it every few years. Why should a will be updated? The most...
If you want to make sure that your assets go to the right people at the time of your death without any interference from anyone, you should consider setting up an irrevocable trust. An irrevocable trust essentially takes control out of your hands, so it’s not...
For contested wills and trusts, Indiana sets a specific statute of limitation. The typical settings for will disputes are probate hearings. Public courts, in an attempt to administer a decedent’s estate, give you the right to contest the directives of a will. Filing a...
If a loved one or nonrelative in Indiana leaves you out of his or her will, it may come as a shock. Unfortunately, you won't be entitled to any portion of the deceased's estate unless you contest the will. Following the process below will get you started. Determine...
Establishing a trust is a good way for Indiana residents to protect their assets. In particular, a DAPT or domestic asset-protection trust, can be helpful. The benefits of this kind of trust include making it harder for creditors to access someone's assets. It can...
Estate planning can take into account charitable giving if you want your estate to fund humanitarian work. There are financial benefits to gain when you include charities as the beneficiaries of your estate. Reducing income or estate tax in Indiana is sometimes as...