Using A Will Just Scratches The Surface Of An Overall Estate Plan.
Knowing what a will can and cannot do for you when you do pass away provides you and your loved ones as baseline on how to better orchestrate the best estate plan for your situation.
Where to Start Your Will
Wills are never the end all document that provides the executive of your goals but is the first destination along a road map that creates the best use of your assets. The below resources will be provided to show an overview of how a will is created and how parties will be affected.
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BENEFITS TO WILLS
Knowing that you have something that is one of the most important and fundamental legal documents that will carry out your wishes is your will. This document must be certain legal requirements set out by the state of Indiana in order to be legally enforceable. The basic components of a will are as follows & outlined in Indiana Code Section 29-1-5:
- Must Be In Writing
- Executed by an individual over 18 years of age
- Person creating will is deemed competent
- Must be witnessed
As there can be many disputes that can arise from the validity and nature of the wishes of the person that created the will, then the courts might have to get involved.
Lastly, if someone dies without a will at all, this means they are intestate, where the state decides how their assets will be distributed.
TRUSTS VS WILLS
The Best Of Both Worlds
We have looked at trusts before which go into more the protection side of your estate plan, a will look at the essential relationship you have with individuals and the assets you own such as your:
- Surviving Spouse
- Minor or Adult Children That Stand To Inherit Your Assets
- Business Partners
- Other Outside Parties As The Government, Charitable Organizations
- Avoiding Legal Challenges
HOW WE APPROACH WILLS IN INDIANA
THE BEGINNING OF YOUR ESTATE
As you’ve read, wills provide for much more than asset protection or guardianship for your minor children. As the planning for your will creation will cause you make very personal and complicated decisions, you need to have trusted advisors by your side and develop yours to do what you intended.
Call or Email Our Indianapolis Estate Planning Attorneys Today!
Our attorneys know that your will is unique to you and know that it isn’t optional to leave it to chance in creating one.
To schedule an evaluation of your will, please contact an Indiana estate planning attorney from our firm today!
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You Built Your Life The Way You Wanted. Now Create Your Legacy.
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