Many in Indianapolis may insist that their will always be time for them to see to their estate planning. Whether it is due to a fear of having to confront their own mortality or not wanting to have to be the "bad guy" that upsets assumed beneficiaries with their decisions, even the prospect of creating a will is daunting to some. This contributes to the ever-growing number of those who do not have a will (which is nearly 60 percent of American adults, according to the American Association of Retired Persons). Refusing to address one's estate planning could come back to haunt them in an unexpected illness or injury has them confronting the prospect of death much sooner than they anticipated. Yet even at such a late time in their lives, they still have the chance to create a will.
Estate planning in Indiana is often juxtaposed against other terms, such as wills or trusts. But what do these words mean? Are they all the same things, pieces of a whole, or alternatives? CNN Money describes estate planning as the planning process behind how assets will be distributed after someone passes away.