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| Areas of Practice > Estates & Family Law > Estate Planning |
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| Estate Planning Every person and family can benefit from estate planning. Whether an estate is small or large, simple or complex, estate planning has several benefits. First, it will make sure your property goes where you choose upon your death. Second, it can take care of your needs during your lifetime, and your under-age or incapacitated heirs after your death. Third, estate planning may save your heirs in administration costs and reduce death taxes. Estate planning is surprisingly easy to accomplish, and those who do it are always relieved when it is done. Every person and family is unique, and your estate plan can be individually tailored to achieve the goals you set. Wills and Trusts A Will can direct where your property goes after your death and provide guardianships for your minor heirs. Likewise, a Trust can be set up to benefit you during your life and, while minimizing costs, direct the disposition of your estate after your death. Depending on the size of your estate, wills and trusts may be written in a way that helps lower estate taxes. Financial and Health Care Powers of Attorney These documents can provide protection for your property during your life and direct your healthcare if, because of illness or incapacity, you are unable to make decisions for yourself. These are few of the tools used in estate planning which will be considered to make sure your estate plan does what is important to you. We take pride in making sure you understand the options available so that, working together, the best estate plan for you and your family can be created. ESTATE ADMINISTRATION When a will is in place at death, the probate Court process will be used to pay debts and taxes and to transfer assets to the heirs. Sometimes, a simpler probate process, known as an unsupervised estate, can be used to hold down costs and delay. Where a proper trust plan has been set up before death, the trust administration process is usually simpler, private and less expensive. Also, the issue of federal estate and Indiana inheritance taxes is one that must always be addressed. Of course, every estate is different. Our firm has experience in handling estates of all types, including litigating will contests and disputes among heirs. |
| Copyright Withered Burns & Persin, LLP, Attorneys at Law, Lafayette, Indiana. The above is for general information only, and does not constitute legal advice to anyone. Please contact our office for advice on your specific legal needs. |
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