When you are in the field of estate planning you keep an eye on statistical data that has been compiled about estate planning preparedness. Over the years surveys consistently find that most people do not have a proper estate plan that includes a last will or a trust of some kind to arrange for asset transfers. This is rather amazing when you think about it because we are all aware of the fact that death is considered to be one of the two inevitable events that we face. How can … [Read more...] about What Happens to My Property If I Die Without a Trust or Last Will in Indiana?
Probate
Affidavits and Simplified Probate
If you choose to direct the future transfer of your assets to your heirs through the terms of your last will the process of probate is probably going to be a factor. We say "probably" because small estates may be able to avoid the full probate process. In the state of Indiana it is possible to avoid probate altogether by utilizing a simple affidavit if the overall unencumbered value of the property is less than $50,000. If there is real property involved this process cannot be … [Read more...] about Affidavits and Simplified Probate
Access Our Estate Planning Report Library
People who have absorbed in-depth information about any particular subject are going to make better decisions than those who are not fully informed. This certainly extends into the realm of estate planning. On the most basic level people think about estate planning as the act of drawing up a last will that divides a pie of sorts among family members. In fact there is a bigger picture to consider. A last will may not be your best choice for transferring assets. If you … [Read more...] about Access Our Estate Planning Report Library
Choose Trustee or Executor Wisely
When you use a trust such as a revocable living trust to direct the transfer of your remaining assets to your heirs after your passing you have to choose a trustee. The word trustee has some inherent implications. This individual or entity is going to be managing the funds that have been placed into the vehicle, and because of this fiduciary responsibility you clearly want to select a person or company that you trust. The utilization of a trust company or the trust department … [Read more...] about Choose Trustee or Executor Wisely
Living Trust Provides More Than Probate Avoidance
A revocable living trust is a good choice for people who would like to avoid probate. This is a legal process that an estate must pass through before the heirs receive their inheritances when a will is used to arrange for asset distributions. Why would you want to avoid this process? There are a few different reasons. One of them is the fact that probate is a public proceeding, and anyone can access the records. You may want your final affairs to be conducted … [Read more...] about Living Trust Provides More Than Probate Avoidance
Answers to Three Common Questions About Probate
Probate is a mystery to many people when they first start to look into the subject of estate planning. In an effort to clear the haze a bit we would like to answer three common questions about probate here. 1.) In a general sense, how would probate be defined? Probate is a legal process. The probate court in the jurisdiction within which a deceased individual passes away supervises the administration of his or her estate. 2.) What does this administration … [Read more...] about Answers to Three Common Questions About Probate
April Indianapolis Estate Planning Seminars
Our firm is very proactive about community outreach and education. When you understand why estate planning is important you invariably feel compelled to take action for the benefit of those that you love. One way that we make solid information available is through our website and right here on this blog. A great resource that you may want to explore is our library of informative free estate planning reports. We offer a number of reports on many different specific topics, and they … [Read more...] about April Indianapolis Estate Planning Seminars
Will Challenges: What Are the Legal Grounds?
Some people hear about the topic of last will challenges and they see a one-sided picture. This perspective involves a disgruntled party who cannot deal with the final wishes of a family member. Rather than accepting the decedent's right to make his or her own decisions the indignant individual in question decides to challenge the validity of the will. The fact of the matter is that there are those who may step forward out of a sense of being slighted personally without really having … [Read more...] about Will Challenges: What Are the Legal Grounds?
Download Our Free Report on the Probate Process
The process of probate enters the picture when you are executing a last will to state your final wishes. During this interim the probate court will examine the will to determine its validity. Interested parties could step forward during probate to challenge your will, and while the estate is being probated final debts must be paid. Along with the above the assets that comprise the estate must be prepared for distribution to the heirs in accordance with your stated wishes. … [Read more...] about Download Our Free Report on the Probate Process
Hemsley Estate Dispute Decided by Court
We have been passing along information over the last few months about the disputed estate of the deceased actor Sherman Hemsley, and we can now report that a resolution has been reached. The character George Jefferson catapulted Hemsley into the public consciousness, and he certainly provided millions of Americans with some hearty laughter during his long and successful career. The dispute involved a person stepping forward to challenge Hemsley's will during the probate process. Even … [Read more...] about Hemsley Estate Dispute Decided by Court
