A charitable trust is a legal arrangement where you transfer assets to a trust for charitable purposes. It offers unique benefits and challenges that you should consider when planning your charitable giving. Understanding these can help you make informed decisions....
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Estate Planning
Why you should include business succession in your estate plan
Including what you want to happen to your business after you pass away is an integral aspect of your estate plan. Without clear instructions, your business could face uncertainty. It can lead to potential financial losses or even closure. It becomes more important in...
Do estate planning decisions regarding agricultural assets have any tax implications in Indiana?
Estate planning for agricultural assets in Indiana involves various tax implications. Farmers and landowners need to understand these implications to make informed decisions. Proper planning can help minimize taxes and preserve family farms for future generations....
Why set up a special needs trust in Indiana?
Planning for the future is crucial, especially when it involves caring for a loved one with disabilities. In Indiana, setting up a special needs trust is a strategic way to manage this. What is a special needs trust? A special needs trust is a legal setup that secures...
Strategies for estate planning with blended families
In today's world, many families are not traditional. Blended families, where one or both partners have children from previous relationships, bring unique challenges to estate planning. Developing strategies that promote fairness and harmony among family members while...
How living wills and healthcare powers of attorney differ
Being able to voice your medical care preferences is something you should never have to lose. Unfortunately, infirmities, illnesses or disabilities could rob you of the capacity to make your own healthcare decisions. This is why people make advance plans to carry out...
What are the most suitable legal structures for farm estate planning?
As with any business, planning for the future is absolutely necessary when you are running a farm. Selecting the right legal structure is a central part of that planning process. This decision can have significant implications for taxes, management and the transfer of...
What doctors in Indiana should know about estate planning
As a doctor practicing in Indiana, it is important to plan for the future. This is not only for yourself but also for your loved ones and your assets. Estate planning can ensure the fulfillment of your wishes and the protection of your assets. Probate and its...
3 key benefits of creating a living trust
Creating a living trust offers several advantages for those looking to manage their assets and estates. Unlike a will, a living trust provides a flexible and efficient mechanism for managing assets during one's lifetime and ensuring a smooth transfer of wealth upon...
When should succession planning start and why is it important?
Succession planning is an important aspect of ensuring the long-term stability and prosperity of a business. According to Sigma Assessment Systems, Inc., the risk of not having a succession plan is apparent to about 60% of business leaders it surveyed in 2022. It is...