In creating your estate plan today, you’re providing protection for yourself and your family members tomorrow. With proper planning in place, you’re assured that your assets will pass to the people and charitable causes about which you care deeply, while avoiding disputes and unnecessary tax.
Our many years spent advising clients of all ages have taught us that, in the process of estate planning, family dynamics and emotions come into play. Our aim is to protect and defend – not only your legal interests, but the values you hold dear…
As your estate planning attorneys, we become key members of your team, working together with your insurance agent, CPA, and financial advisor to ensure you remain prepared for all of life’s twists and turns – today and into the future.
It’s important for family members to understand why decisions – perhaps involving unequal inheritances – are being made. In elder law and estate planning, conflicts often arise when one family member becomes primary caregiver or when there is disagreement on treatment options. Your estate planning attorney helps family members navigate these and other conflicts. Changes in family relationships, financial circumstances, and health can affect your estate plan. As your counselors, we help adapt and document your plan to ensure it reflects your current wishes.
Estate planning is not limited to creating documents such as wills and trusts. Business and farm succession planning, guardianships, probate, Medicaid benefits, even post-death legal issues are all areas in which the law changes over time. As your estate planning attorney, I serve as your guide, making sure all changes are properly documented, signed, and stored.
In cases where no will exists, or when a will is contested, we know how to properly transfer inheritances, helping families navigate the complex process of probate court proceedings, assuring the smooth and efficient transfer of assets, including homes, vehicles, real estate, vacation homes, business interests, bank and investment accounts, life insurance, and collectibles.
Wills and trusts each have strengths and weaknesses. A will takes effect upon your death and requires a court process called probate. In a supervised estate, a personal representative is appointed to oversee the distribution of all real and personal property assets. In the less expensive unsupervised estate settlement, the heirs unanimously agree to the disposition of assets. In contrast, a living or inter vivos trust becomes effective during your lifetime and avoids court supervision in the probate court.
Indiana does not have an inheritance tax of its own, but Indiana residents are still subject to federal estate taxes. The gift taxes apply to transfers made during life, while estate taxes apply to transfers upon death. Each individual has a lifetime exemption from both estate and gift taxes up to a certain amount determined by federal tax law.