Noblesville Will and Hamilton Estate Planning Attorneys
As Noblesville will and Hamilton County estate planning attorneys,we understand the importance of providing for the clear disposition of your assets after death. We help prepare the appropriate documents to help avoid potential family disruption, and to make sure that assets are transferred as desired.
Having an estate plan is critical for effectuating desired asset distribution. If you do not have a will or other estate distribution documents in place, Indiana law will provide how your assets will be distributed, even if you clearly told your loved ones about your distribution desires.
A will provides for the distribution of all property owned by a person other than property that is subject to other contractual disposition, such as “pay-on-death” bank accounts. In addition to specifying property distribution, a will can be used to name an executor, name guardians for children and their property, and provide for the care of pets, among other items. After all debts of a decedent are discharged, any remaining assets are then distributed in accordance with a will.
In addition to providing for matters such as property distribution, wills are critical to protect the interests of loved ones and to minimize the disruption and expenses that could be associated with fighting over assets. It’s important to note that without a will, certain individuals, such as unmarried partners, do not inherit under Indiana intestate law. So, even if a couple has been together for many years, without a will, a surviving partner may not inherit anything under Indiana law.
By carefully drafting wills to specify the intent of our clients, we help ensure that their asset desires will be respected by the courts. This helps minimize the chance that beneficiaries will fight or litigate over assets.
It’s important to seek legal counsel in creating a will to ensure will validity, and to that clearly document the order for asset distribution. Learn about how we can help protect your interests.
A trust is a tool whereby property is held by one party for the benefit of another. The trust holds the property of the creator, called the settlor, of the trust, for the trust’s beneficiaries. Frequently, trusts appear in wills. There are different purposes for a trust, but many choose a trust for asset protection and distribution upon death if the beneficiaries may be minors. Another reason for a trust may be to protect trust assets from the beneficiaries’ creditors or the beneficiaries’ inability to manage money.
Healthcare Power of Attorney
A Healthcare Power of Attorney is sometimes referred to as a Living Will or an Advanced Directive. If you become unable to make your own health decisions, this document specifies who will make decisions on your behalf, and provides notice to healthcare providers as to your wishes concerning certain forms of treatment. These documents are also helpful to give your loved ones direction and relieve them from the stress and guilt of making health care decisions for you during such an emotional time.
Estate and Trust Administration
Once a person dies, the person’s debts need to be paid and the estate needs to be distributed. Court-oversight of the administration of the estate may be necessary. This process can be overwhelming for someone after a loved one dies. Summary procedures, or simplified and less formal procedures, may be available for the administration of smaller estates.
Working With an Attorney at Adler Tesnar& Whalin
If you are interested in creating a will, trust, power of attorney, healthcare power of attorney, or funeral directive, or need assistance with estate administration, including will contests, please call (317) 773-1974 or email firstname.lastname@example.org to schedule a free initial consultation.