Some family-run businesses may not give much thought to succession planning. Many proprietors assume that after they die, their heirs will simply take over and manage things. As reported by The Business Journals, approximately 60% of owners surveyed disclosed they...
What Special Estate Considerations Do Farms Have?
Running and operating a family farm requires a commitment that few people are willing to undergo. Whether you're raising livestock, growing small grains or producing vegetables, nature doesn't take your plans into account. The long-term goals for your farm could take...
What should your estate plan include?
There is a widely believed misconception that you only need to worry about an estate plan when you are older or when you have a lot of wealth. Throughout your life, you will have different requirements for your estate plan. However, U.S. News discusses which part of...
How can you choose the right estate executor?
Making arrangements for your estate and other end-of-life duties are usually not easy to face, so choosing the right estate executor to take on these duties after you pass can offer you peace of mind that your heirs receive money, property and other assets without a...
3 essential qualities of a special needs trustee
Provided they have limited incomes and assets, disabled Hoosiers often qualify for Supplement Security Income or other needs-based government help. A special needs trust is an estate planning tool that provides funds for the benefit of your disabled loved one without...
Is it time to update your estate plan?
Indiana residents like you spend time, effort and money on your estate in your lifetime. You want your loved ones and beneficiaries to inherit it after your death without any hang-ups or legal difficulties. But how can you ensure this? One way to do so is by making...
What is a simple will?
Estate planning may seem like it is only for people who have a considerable amount of assets to wrangle or for the elderly, but this is not true. Even if you are at a lower income level and comparatively young, having a will in place is a must. However, particularly...
Special needs trusts offer financial help to disabled adults
As the parent of a disabled child, you likely have some trepidation about your son’s or daughter’s future. After you die, you may worry your child will lack the funds necessary to have a decent life. This may be true even if your loved one is eligible for needs-based...
Do I need a living will as part of my estate plan?
Indiana residents who are taking the wise step to create an estate plan might be under the impression that a will or a trust is sufficient. However, there are other aspects of an estate plan that should be considered, especially for those who have deeply held beliefs...
Tips for end of life planning
For many, talking about death makes them uncomfortable. However, not talking about it does not mean that one should avoid planning for it. Death is an inevitable part of life, which makes estate planning an essential step to take. Whether you choose to start the...