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...
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Indianapolis, Indiana Legal Blog
What you need to know about naming a beneficiary for your LLC
When it comes to managing your limited liability company, there are several aspects that are easy to overlook. Among these, the act of naming a beneficiary for the LLC is particularly important. Designating a beneficiary who will inherit your share of ownership over...
Indianapolis to be 2024’s fourth hottest real estate market
According to Zillow's annual predictions, Indianapolis will be the fourth hottest real estate market in the United States this year. The online real estate listing site has forecasted a dynamic real estate landscape for the 50 most populous metropolitan areas, and...
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...
What does it mean to reorganize a business in bankruptcy?
If your business is facing tough financial times due to mounting debt and a lack of cash flow, you may wonder what you can do to pull your enterprise back from the brink. Companies in financial turmoil might turn to reorganization through the Chapter 11 bankruptcy...
Common mistakes new business owners can avoid
Launching a new business for the first time brings a flurry of decisions and new situations. In the process, many new business owners make mistakes that can hinder their success. Understanding some of the most common errors that business owners make might help you...