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Electronic information plays a larger role in today's daily life, and many people now hold valuable online property. Planning for these items when creating a will is essential for a solid estate plan. Digital assets vary widely, so a will should address each category...
According to some reports, it is actually not that common for Americans to have a will or an estate plan. These reports claim that roughly two out of every three Americans have not made a plan yet, so only around 33% of Americans have a will on file. This can create...
Estate planning often starts with determining how you want your assets to be passed on to the next generation. You can name beneficiaries who are supposed to receive specific assets, put certain assets into trusts, set up donations to charities and much more. But one...
If you want to make minor amendments to your will, you don’t have to rewrite the whole document or begin from scratch. You can use a codicil to make small updates to your will while keeping the rest intact. You may, for instance, change an executor, add or remove a...
For Indiana families with significant assets, an estate plan is more than a tax strategy. It is a crisis manual. If you have not updated your advance medical directive, you risk handing your most personal healthcare decisions to a public courtroom instead of a trusted...
Many people think that they can forget about their estate plan once they have it made. They don’t realize that they may have to take the time to go over it with their adult children. Conversations about estate plans cover topics like wills, trusts, medical wishes,...
When writing a will, you may decide that you want to disinherit someone. This is a person who ordinarily would have been named as a beneficiary, perhaps because they were in a previous version of your estate plan or because they are a direct relative, such as an adult...
Building wealth is a dream that many people have and rarely achieve. But when it does happen, various aspects of your life are subject to change. One of these is how it affects your current estate plan. As it is not a one and done document, knowing where issues tend...
In order to draft an estate plan or write a will, a person has to have testamentary capacity to do so. This generally refers to their mental capacity and their understanding of the decisions that they are making. A person who makes an estate plan has to be of sound...
Planning ahead often includes thinking about how to protect what you have earned. In Indiana, a specific tool known as a legacy trust can play a role in that planning when it fits your situation. How an Indiana legacy trust works Indiana law allows for an irrevocable...