When you have a new baby, you have a lot of life changes to make. Most parents quickly adjust, but there is one major action that they might forget they need to take care of. This is estate planning. You may think that you have plenty of time to handle this matter,...
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Why use a charitable remainder trust?
As you plan how to distribute your assets in your estate plan, you may choose to set aside some of your estate for charity. While you can take money and give it directly to a charity, you may want to take advantage of tax benefits that a charitable remainder trust can...
2 common estate planning mistakes and how to avoid them
No matter how big or small your estate plan is, there are common mistakes that impact many plans. These mistakes can lead to expensive taxes, complex legal battles and having your inheritance go to people you didn’t intend.It’s useful to educate yourself...
What every farmer needs to know about estate planning
Indiana is full of family farms. In fact, the Hoosier state has more than 50,000 family-owned farms. Even in the 21st century, many family farms are passed down from one generation to the next. So, it’s crucial that farmers have a good estate plan and succession...
How can I deduct my charitable giving on my taxes?
Charitable giving is woven into the fabric of American culture. Many people generously give to a variety of charities and philanthropic organizations. If you plan to donate to a charity and would like to take advantage of available tax benefits, you need to determine...
Were you recently nominated as an executor of a will?
The role of executor is an honor and a heavy responsibility. As an executor, you will be responsible for handling all the deceased’s remaining financial concerns. It is understandable that you are stressed and concerned about how to do this faithfully and...
Is a special needs trust right for your family?
When you are considering your estate planning options, you may have a pretty good idea how you want to leave your assets to the next generation. If you have a disabled loved one, however, you might be wondering how you can show your care and support of that person...
Is the new tax law chilling charitable donations?
The hard, cold figures won’t be available until tax deadline day in April, but changes made by Republicans to the federal tax law will likely result in fewer donations to charities.Donations from individuals make up about 75 percent of all the donations received...