Marion County Wills Attorneys Helping You in Indianapolis, Indiana, and the Nearby Areas
It is difficult to think about death or consider the thought of becoming incapacitated. However, establishing a plan for these situations is important to ensure that your estate is distributed according to your wishes and that those you care about receive the support and assets you have worked so hard to earn.
The only way to make sure that your wishes for your estate are heard and followed after your death is to create a will that spells out how your assets will be divided. A will also gives you the power to appoint a guardian for any minor children after your death and to name an executor of the will, an individual you trust to ensure the will is followed per your wishes. Finally, with the assistance of an estate planning lawyer, you can create a last will and testament that reflects your wishes for your estate after your death. Contact one of our wills attorneys in Indianapolis, Indiana today.
We Can Help You Create an Estate Plan in Marion County, Indiana
Estate planning is a broad legal term that involves creating legal documents and structures that allow your wishes for your estate to be fulfilled upon death. One of the most common aspects of estate planning is the last will and testament, which determines how you would like your estate to be divided and who will be the beneficiaries of that estate. In some situations, estate, and gift taxes also need to be considered.
Another type of estate planning that may be helpful is a living will or durable power of attorney for health care, which points out your desires involving medical decisions should you become incapacitated and unable to make those decisions for yourself.
Trusts, such as a revocable living or an educational trust for your children, are other ways to plan for the management of your estate and your assets in the event of your incapacity or death. In a general sense, the creation of a trust does not exclude the need for a will. A will can specify the division of assets that may not be kept in trust, and it can nominate a guardian for minor children. Also, a trust can frequently ensure that your assets are distributed outside the probate court.
Do You Need a Last Will and Testament or an Estate Plan in Indianapolis, IN?
Everybody should consider making a will. Having said that, a will is about more than the division of a larger estate, and creating a will is not something solely for those with substantial assets.
If you die intestate, or without a will, the state in which you live will decide how your assets will be divided. In some situations, the laws of intestate succession may line up with the decedent’s wishes, but in other situations, that would not be the case at all. Most state law follows a default formula for intestate succession, giving the estate to a surviving spouse or splitting up the estate between the spouse and children.
If you are not married, things can become more complex. For example, if you are unmarried and without children, your parents inherit your estate without a will. In this circumstance, an unmarried partner would likely receive nothing. It would be the same with stepchildren.
The only way to make certain that those you love are provided per your wishes in Marion County, rather than a formula dictated by state law, is to create a legally binding will with the help of a wills attorney that makes those wishes known.
Contact an Indianapolis, Indiana Wills Attorney Today to Schedule an Initial Consultation in Marion County
The best way to make a last will and testament that accurately reflects your wishes for your estate and avoids issues in probate is to talk with a wills lawyer who knows the laws in your state related to wills. To set up a consultation with Stange Law Firm, PC, please call 855-805-0595 or contact us online.
Marion County (Indianapolis), Indiana Office (463-258-5401) | 201 N. Illinois St., Suite 1637, Indianapolis, Indiana 46204