When you consult with an estate planning attorney you can be certain that you are not making any decisions based on misguided notions. It is easy to assume things without having a full understanding of the legal devices that are available to you when you're planning your estate, such as an Indiana revocable living trust. Indiana Revocable Living Trusts: No Asset Protection In a general sense people often think that you no longer own assets that you place into a trust. That's the whole … [Read more...] about Does an Indiana Revocable Living Trust Provide Asset Protection?
Blog
Charitable Giving in Indiana: Consider Its Value
Charitable giving in Indiana can be part of your estate plan. When you understand all the facts and take the correct steps you can assist nonprofit enterprises of your choosing while gaining tax efficiency in the process. Right now the estate tax exclusion is $5.25 million, and the top rate is 40%. When you are planning ahead for the future you should inventory your assets so that you have an understanding of your net worth. If your assets exceed the estate tax exclusion you must take steps to … [Read more...] about Charitable Giving in Indiana: Consider Its Value
Revocable Living Trust in Indiana FAQs
Creating a revocable living trust in Indiana can be a good way to arrange for your assets to be transferred to your heirs after you pass away. In this post we will provide the answers to some frequently asked questions about these trusts. What is the primary benefit of a revocable living trust in Indiana? When you state your wishes regarding the distribution of your financial assets in a last will alone the transfer of assets is going to be stalled by the probate process. The will must … [Read more...] about Revocable Living Trust in Indiana FAQs
Estate Planning: Celebrity Estate Cases Shed Light
Estate planning is important for everyone, but it is more important for some people than it is for others. Celebrities who have very significant financial resources are risking big losses if they don't plan ahead intelligently. This is because of the existence of estate taxes. The federal estate tax carries a maximum rate of 40%, and a number of states also have a state-level estate tax. Another thing to consider when you're thinking about celebrity estate planning is the fact … [Read more...] about Estate Planning: Celebrity Estate Cases Shed Light
Retirement Planning in Indiana: Know the Facts
When you are looking forward toward retirement and otherwise preparing for the eventualities of aging you need to know all of the relevant facts about retirement planning in Indiana. One of the best ways to go about this type of planning is to do it with the assistance of a licensed elder law and retirement planning attorney. This having been stated, there is a certain amount of research that you can do online to prepare for your consultation so you can ask the right questions. We … [Read more...] about Retirement Planning in Indiana: Know the Facts
In-Home Care Giving
The subject of long-term care is something that families should ideally discuss as a group. The majority of people in the United States are eventually going to need assistance with their activities of daily living. This is a matter that is relevant to all of us, and it is wise to talk about it openly as you make practical preparations for the future. Your first thought may be that you will simply have Medicare pay for a stay in an assisted-living community or nursing home if you need … [Read more...] about In-Home Care Giving
The Estate Plan of Jim Morrison
When you are a young person you may not take estate planning that seriously, and the truth is that most young people don't have an estate plan in place. Many don't take action because they simply feel as though they are not going to be passing away for decades. This is perhaps understandable, but it is not necessarily the most responsible viewpoint. Young people do sometimes die before their time. Others do not care much about estate planning because they simply don't have much … [Read more...] about The Estate Plan of Jim Morrison
How Thorough Is Your Existing Estate Plan?
If you have an estate plan in place you are actually among a minority of Americans. That's correct, even though death is widely understood as one of the proverbial two inevitable facts of life, the majority of American adults have not executed all of the necessary estate planning documents. There are those who have taken a single step along the way. Perhaps you had a last will drawn up when you had your first child, or when you got married. This does not mean that you are … [Read more...] about How Thorough Is Your Existing Estate Plan?
An Examination of Federal Transfer Taxes
If you have been able to accumulate a significant store of wealth throughout your life you must take steps to mitigate your exposure to federal transfer taxes. Those who do not plan ahead effectively could be doing their family members quite a disservice. There are taxes on asset transfers in the United States. These levies can dramatically reduce the value of your estate as it is being passed on to your heirs. Gifts that you give to others while you are alive can also be … [Read more...] about An Examination of Federal Transfer Taxes
Taxes to Erode Gandolfini Estate
The actor James Gandolfini died recently at the age of 51. He made his mark playing the unforgettable role of Tony Soprano, and he will certainly be missed by his family, friends, and legion of fans. When famous people pass away the media shares whatever information is available. Sometimes you can learn something about estate planning when you hear about the successes and failures of high profile individuals. There are a couple of things that can be learned when we examine the … [Read more...] about Taxes to Erode Gandolfini Estate
