When you are engaged in the process of inheritance planning you are going to be faced with the prospect of making some important and potentially sensitive decisions. Exactly how much you are going to give to each person on your inheritance list is one of them. It can seem as though it is only fair to give each of your children equal inheritances. Many people go this route regardless of the relative financial situation that each respective child may be in, and there is certainly … [Read more...] about Are You Leaving Children Unequal Bequests?
Wills and Trusts
Speak With Attorney After Spouse Passes
Estate planning is a long-term process, and this is one of the reasons why you should think in terms of developing an ongoing working relationship with your estate planning attorney from the start. Things change in your life, and invariably these changes are going to call for estate plan updates. Some of the changes are quite positive, such as additions to the family or an improved financial standing. Unfortunately, others are necessary because someone that you love passes … [Read more...] about Speak With Attorney After Spouse Passes
Estate Planning Considerations for Same-Sex Couples
People who are involved in committed long-term same-sex partnerships may or may not have the ability to have their unions legally recognized in the states within which they reside. At the present time Indiana is not one of the states that will allow for gay marriages. This has some very profound implications on an estate planning level. There is a $5.25 million per person exclusion, but this only applies to asset transfers between people who are not married. If you are legally … [Read more...] about Estate Planning Considerations for Same-Sex Couples
Three Things a Revocable Living Trust Won’t Do For You
There are some very useful things that revocable living trusts can do for you when you are planning your estate. One of them is the ability to address the possibility of incapacity. Around 40% of people who are at least 85 are suffering from Alzheimer’s disease, and of course this is not the only cause of incapacitation. So, incapacity planning is a must. With these trusts you can choose a disability trustee, and this individual or entity would be empowered to handle the assets … [Read more...] about Three Things a Revocable Living Trust Won’t Do For You
Three FAQs About Revocable Living Trusts
Some people who have heard about the existence of revocable living trusts shy away from them because they don't understand exactly how they work. There is no reason to decide against something before you understand the facts. You can always schedule a free consultation with our firm to learn about revocable living trusts, and we invite you to do so if you are interested. Let's take a look at three frequently asked questions about revocable living trusts here. Do I surrender … [Read more...] about Three FAQs About Revocable Living Trusts
Have You Heard of All of These Wills?
In the field of estate planning most people are aware of the existence of wills and trusts. What they may not be cognizant of is the fact that there are a number of different types of wills and trusts. We will look at some of the more commonly utilized trusts in a different post, but let's take a glance at four different types of wills. Living Will: An Advance Directive for Health Care Since there is such a thing as a living trust there can be some confusion about the purpose of a … [Read more...] about Have You Heard of All of These Wills?
Consider a Charitable Lead Trust
There are various different ways to incorporate charitable giving into a comprehensive estate plan. While giving is its own reward on a particular level, without question many people are more or less compelled to give to charity because of the tax advantages. One of the devices that can be utilized to great advantage, especially during our current era when interest rates are low, is a charitable lead trust. We will endeavor to provide a very simple, surface explanation here but we … [Read more...] about Consider a Charitable Lead Trust
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
Estate Planning and the Kindness of Strangers
Peter Barton, who played Dr. Scott Grainger on the soap opera The Young and the Restless back in the late 80's and early 90's, and Kevin Brophy, who starred on the Lucan television series that aired for a couple of years during the 1970's, recently came into inheritances. The windfalls that these two veteran actors received were very much unexpected. A fellow named Ray Fulk died in Illinois over the summer. He was the owner of about 160 acres of property that has been appraised at … [Read more...] about Estate Planning and the Kindness of Strangers
Wife and Girlfriend of Kinkade Settle Case
We reported on this story some time ago but there has been a new development. A last will that is constructed completely by hand is called a holographic will. The painter Thomas Kinkade, who died last April, apparently executed two different holographic wills leaving significant resources to his girlfriend Amy Pinto. One can legally construct a holographic last will, but in the case of Thomas Kinkade there were some complications. These documents were very poorly written and … [Read more...] about Wife and Girlfriend of Kinkade Settle Case
