When you are thinking about how you will be arranging for the distribution of your resources to your heirs after you pass away you may automatically assume that a last will is your only option. In fact, there are other possibilities and you should not let a lack of information intimidate you.
Expert advice is out there, and there is no reason to make assumptions that limit you. If you discuss your unique situation with a licensed and experienced Indianapolis estate planning lawyer he or she will get to know you and gain an understanding of your wishes. Depending on the precise circumstances any number of recommendations may be made.
A revocable living trust can actually be a very good alternative to a last Will. As the name implies, you can revoke the trust if you choose to or change the beneficiaries at any time. And, you do not relinquish control because you as the grantor can serve as both the beneficiary and the trustee while you are still alive and well.
If you go the other route and use a last Will, your estate is going to have to be probated and this legal process can be costly and time-consuming. On the other hand, the utilization of a revocable living trust facilitates a quick and efficient transfer of assets after your passing.
To explore all of your options as you plan ahead for the latter stages of your life, take action right now to arrange for a consultation with a seasoned, savvy Indianapolis estate planning attorney.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.