When setting up a trust, one of the most significant decisions you will make is choosing the right trustee. This person will manage your trust’s assets according to your wishes. Often, people choose a close family member for this role due to their personal connection...
Estate Planning
How can you talk to elderly parents about their estate plan?
Discussing estate planning with elderly parents can be a sensitive topic. However, it is important to understand and honor their wishes. Learning about tips on how to broach this important subject with your aging loved ones may help. Choose the right time and place...
Traits to look for when choosing an executor for your estate
Estate planning is an important step toward ensuring the orderly distribution of your assets and realizing your final wishes. At the core of this process is selecting an executor who oversees the estate's administration. The executor plays an important role in...
3 major components of an estate plan
Planning for the future goes beyond setting your career and lifestyle goals. It must also address how you intend to protect your wealth and assets and how you wish to distribute them according to your wishes. This is where estate planning comes into play, a critical...
What to do when a loved one passes away without an estate plan
Losing a loved one is a monumental challenge, and dealing with their financial affairs can add additional stress. It may not be clear what steps to take in managing a loved one's estate, especially if they did not leave a will to make their wishes known. In Indiana,...
Common estate planning mistakes and how to avoid them
Estate planning is an important aspect of securing your family's future. Unfortunately, many people make mistakes that can have significant consequences. Neglecting to create a will Did you know that only 46% of senior citizens aged 55 years have a will, much less an...
The conditions of a valid power of attorney in Indiana
A power of attorney (POA) is a crucial legal document that permits someone to manage your affairs, particularly if you become unable to handle them yourself. In Indiana, like in other states, there are specific requirements that you must meet for a court to consider a...
Why should you use trusts in your Indiana estate plan?
According to CNBC, of the 34% of Americans with an estate plan, only 18% of them have trusts. When planning your estate in Indiana, incorporating trusts can be a strategic move. Trusts are not just for the wealthy; they offer several benefits that can enhance almost...
What should you look for in a guardian for your children?
When crafting an estate plan as a young family, one decision that often requires thoughtful consideration is the appointment of a guardian for your children. This chosen guardian will play a huge role in their upbringing in the event of your death. To ensure that...
How should you choose your beneficiaries?
Choosing the individuals who will inherit your assets is a decision of paramount importance. It is a process that requires careful consideration and planning to ensure that people know your wishes. 1 in 6 people in America were age 65 or older in the year 2020,...