Blog & Updates

As executor, you are responsible for carrying out the terms of your uncle’s will and overseeing the administration of his estate. Your duties will vary depending on the complexity of the estate, but generally, you are in charge of inventorying his assets, paying any debts and taxes due, then transferring what’s left to those entitled to it. A good starting place is to locate important documents including death certificate, Will, and any Trust Agreement. You will also want to gather documentation of assets such as current bank statements, investment statements, deeds, life insurance policies, certificates of title, etc.Next, speak with your […]

My husband and I are in our 80s and we are worried that we will not have enough to live on if one of us should need to pay for home health care or nursing home bills.  Can we do anything or is it too late? It is never too early or too late to do financial and estate planning.  It is true that the earlier you start the more options are available to you, but even when you get a later start, there is still very effective planning that can be done and wonderful savings achieved.  Medicare, supplemental medical […]

Question:        Is there a new law that requires me to change my current health care representative appointment and living will documents? Answer:        There is a new law that was enacted in 2021, which became effective July 1, 2021, that allows Indiana residents to combine their medical durable power of attorney, health care representative appointment document, and living will advance directive all into one comprehensive form. However, you are not required to take advantage of this new law if you previously executed otherwise legal and valid documents up to December 31, 2022. Thereafter, all Indiana residents desiring to utilize the […]

I am asked by clients all the time the question: Do I need a Trust to avoid probate in Indiana? The simple answer is: No. The more accurate answer is: It depends.Probate is the legal process by which a court of competent jurisdiction appoints an executor / administrator / or personal representative (synonymous terms often used interchangeably), to pay expenses of a decedent; and, to gather, collect, value, and transfer assets of a decedent to the next of kin or properly designated heirs. This process is public and can become cumbersome, lengthy, and expensive. Trusts are often used to legally […]

A “living trust” is the name frequently given to a revocable trust used in estate planning as an alternative to a will. The downside to a will is that for a will to be valid and effective to transfer property at one’s death, the will must be “probated.” Probate is a formal court proceeding that is expensive and often ties up the decedent’s estate for many months, while the beneficiaries wait for their inheritance. A “living” trust avoids probate. An individual can establish his/her own individual living trust, or spouses, if they wish, can establish one trust together called a […]