When considering the best interests of your family, it’s always wise to plan ahead.
Whether you’re designating the recipients of your assets and property, or determining who will be put in charge of your estate, making these tough decisions takes significant pressure off of those you leave behind.
At Glover DeWeese, our attorneys can help you make sense of the process, and guide you through all of the necessary steps that you’ll be taking. We know how seriously you take the future of your family, and we will serve as a dedicated agent for your interests.
Estate Planning in Indiana
A will sets out how you want your assets distributed after you pass. You can choose who receives your property or financial holdings. You also choose who will represent your estate. Without a will, your property is subject to Indiana law and you will have no influence over how your possessions are distributed.
Estate planning encompasses wills, trusts, powers of attorney and many other types of tools that you can use to determine how your property and assets will be handled after you pass. This can also include specifying your wishes about any care you will receive, should you become unable to speak for yourself.
Powers of Attorney
A power of attorney grants someone else the power to act on your behalf. Durable powers of attorney give someone the authority to look after your financial and medical interests should you become unable to do so.
A trust is used when a person (the trustor) wishes to transfer property to another person (beneficiary), but puts that property in care of a third party (trustee). For example, if you want to transfer your house to your child once they turn a certain age, you will choose another person or entity to be legally responsible for the house until they come of age.
In a living will, a person makes clear their wishes regarding end-of-life care. For example, a living will specifies whether you wish to be kept alive by a feeding tube or if you want to make your organs available for donation.
In order to have your property distributed or collected according to your wishes, you will need to designate someone to administer your estate. We can help you determine who should serve as the executor of your estate and how your debts and assets should be handled after your passing. Administering an estate can be complicated, but we can help simplify the process for the person or persons that you designate to tend to your affairs.
You will be leaving your property’s distribution up to Indiana law. Unfortunately, family disputes can also arise when the deceased doesn’t make their wishes clear. This can lead to legal fights and strained relationships. Coping with the loss of a loved one is extremely difficult even without having to worry about complicated legal problems that can arise if that loved one doesn’t make their wishes known. By coming up with a plan, you not only control what happens to your properties and assets after you pass, but you also make things much simpler for those you leave behind.
Making these decisions regarding your estate now means you’ll be ensuring that those who survive you don’t have to face difficulties in the future. Our firm can help simplify the process of estate planning.
Contact us today to learn more about how we can assist you.
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