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...
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Estate Planning
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...
How to approach estate plan discussions with your parents
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....
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...