Planning now ensures you have a say in what happens to your assets after you are gone.
At Patton Law we understand that a comprehensive estate plan is more than asset protection––it’s safeguarding a legacy.
Let Patton Law take care of your will, trust, and other important legal documents. Our professional and experienced attorneys will walk you through the entire process. We're open weekdays, and after-hours and weekends by appointment. Contact us for a consultation today so we can discuss what is needed to plan your estate.
Read about some of the legal issues that are involved with a comprehensive Estate Plan in more detail by reading our blog post entitled: Why Does an Estate Planning Attorney Do?.
Estate planning involves making legal arrangements for the distribution of your assets and the management of your affairs in the event of incapacity or death. It is crucial to ensure your wishes are carried out and to minimize conflicts among your heirs.
These FAQs provide a general overview of estate planning considerations, but it is essential to consult with a qualified estate planning attorney to address your specific needs and circumstances. Call the experienced estate planning attorneys at Patton Law to schedule an appointment to go over your estate plan today.
It is advisable to start estate planning when you get married, become a parent, purchase a home, or acquire assets of a significant value. However, it's never too late to begin the process, and reviewing and updating your plan regularly is essential. Whether you are new to the estate planning process or need changes to an existing plan, the experienced estate planning lawyers at Patton Law are here to help.
Common documents include Wills, Trusts, Durable Power of Attorney, Healthcare Advance Directives, and Funeral Planning Declarations. The specific documents you need depend on your individual circumstances and goals.
While a Trust can bypass the probate process for certain assets, a Will is still essential. A Will allows you to designate Guardians for minor children, appoint an Executor, and address any assets not included in the Trust.
If you die without a Will in Indiana, your estate will be distributed according to the State's intestacy laws. These laws dictate how your assets will be distributed among your heirs.
It is important to note that intestacy laws vary from state to state, and the distribution of your assets may not align with your preferences if you die without a Will. To ensure your assets are distributed according to your wishes, it's recommended to create a comprehensive estate plan with the assistance of an estate planning attorney.
Probate refers to the legal procedure of managing the assets and affairs of a deceased individual. There are various strategies available to minimize or even avoid probate, such as establishing Trusts, joint ownership of property, beneficiary or “pay on death” designations, Transfer on Death Deeds and making lifetime gifts.
Regularly reviewing every few years and updating your estate plan is crucial to ensure that it accurately reflects your current wishes and circumstances. Significant life events such as marriage, divorce, the birth of children or grandchildren, death of a close family member, changes in assets, or relocation to another state can all impact your estate plan.
Yes, you can and should update your estate plan whenever significant changes occur in your life, such as marriage, divorce, birth of children, changes in financial status, changes in health or move to another state.
Executors are responsible for managing the probate process and ensuring your assets are distributed according to your wishes. Trustees manage assets held in trusts and distribute them to beneficiaries as specified in the trust document. Choosing trustworthy individuals for these roles is crucial.