To begin conversations about estate planning with your aging parents can feel daunting and overwhelming. After all, you want your parents to know that you come from a place of love rather than greed. Conversations about estate plans should remain open and respectful....
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Estate Planning
4 benefits of a special needs trust
If you have a child or other loved one with special needs, your long-term planning should account for that. A special needs trust allows families to provide for a disabled loved one's future well-being while maintaining their eligibility for needs-based government...
3 ways prenups can protect children’s inheritance rights
Many people get married when they have children from previous relationships or marriages. A prenuptial agreement in Indiana can protect the inheritance rights of children from these prior marriages. Prenuptial agreements can outline the distribution of assets,...
Why should young adults have a will?
As a young adult navigating the journey into independence, the thought of drafting a will may seem like a task reserved for later stages of life. However, thinking about your mortality and considering the importance of estate planning can help you. While the concept...
How does a life insurance trust work?
Taking out a life insurance policy is one way to provide for your loved ones after you die. However, you may worry about dying before your children are old enough to handle the insurance payout. Creating a life insurance trust could be the answer to this dilemma. A...
Common pitfalls to avoid when writing your will
According to Gallup, less than half of Americans have a will. Drafting a will can help ensure that your inheritors distribute your assets in accordance with your wishes after your passing. However, you should proceed with caution and avoid common mistakes that could...
4 factors to consider for comprehensive farm valuation
The future of your farm is an important part of your estate planning. Determining that future starts with an accurate valuation. Many factors contribute to the value of a farm operation, and you need to understand those factors and how to account for them. These four...
3 keys to remember when estate planning for farms
Estate planning takes on a different level of importance and detail when you own a family farm. Advanced planning helps ensure that your property and the operation you have invested in remain operational and secure. Although estate planning, in general, is reasonably...
Setting up a special needs trust: 3 steps
Setting up a trust can offer financial stability to a loved one, such as a special needs trust. In this situation, a grantor may need to create and fund a trust for someone who cannot care for themselves or have a limited capacity to do so. According to MetLife,...
How to plan your estate to avoid probate in Indiana
Probate is a court process to analyze and transfer estate assets after someone dies. It can take a long time, delaying the distribution of assets to family members, and be expensive. However, there are ways to structure your estate plan that will protect your loved...