NWI Wills and Estates Attorney

For many people, the thought of talking about wills and estate planning is something they would rather put off. While confronting your own mortality may seem grim, it can provide you the assurance of knowing the people you care about are provided for in the event anything happens to you. Regardless of your earnings, the amount in your bank account, or whether you own property, the following are four estate planning tasks everyone should complete, and the sooner you do it, the better.

Protect Your Loved Ones with a Will and/or Trust

A will is something everyone should have, even if their ‘estate’ consists of little more than their car, the contents of their checking account, and some personal belongings. Under the Indiana Probate Statute, if you pass away without a valid and properly executed will and/or trust in place, your estate may be settled by the Probate Court and will be subject to the rules of intestate succession. This determines who has the right to inherit property, and while it does include spouses, children, parents, and siblings, proceedings can be time-consuming and costly.

Financial Power of Attorney (POA)

In the event of a major illness or accident, your financial power of attorney authorizes a person you name to conduct business on your behalf. This includes accessing savings or checking accounts, paying your mortgage, medical expenses, and other bills, managing any property or businesses you own, and other tasks related to your finances.

Healthcare Power of Attorney

Similar to a financial POA, a healthcare power of attorney grants authority to someone you name to make healthcare decisions on your behalf. With both types of POA, the person you select should have the ability to complete any tasks required, and you should take the time to instruct them as to your wishes prior to granting them this responsibility.

Comprehensive Estate Planning Services

Our team can help you create, modify, and execute all the legal documents necessary to protect your family and your assets and help convey your final wishes to loved ones. Some of the matters we frequently help clients with include:

• Wills & Trusts. A carefully drafted will helps ensure that your assets are distributed according to your wishes, while a trust can provide added protection for your assets, particularly if you have specific wishes for how they are used; we may be able to help your loved ones avoid probate altogether.
• Probate. We are here to represent you in all aspects of probate law to ensure your loved one’s wishes are upheld.
• Estate Administration. Estate administration involves managing the distribution of assets, paying off necessary debts and taxes, and ensuring that all final wishes are carried out in accordance with the law.
• Probate Litigation. Litigation may be required to resolve disputes that arise during the probate process, whether related to asset distribution or other matters.
• Power of Attorney. Let us help you appoint a trusted individual as your power of attorney, who will be responsible for acting on your behalf.
• Asset protection trusts. We can help you protect your assets if you worry about losing your entire estate because of receiving medical care or government assistance; we can also limit your tax liability (death and estate taxes) under certain circumstances based on tax law and exemptions.
• Guardianships. We can help you appoint guardians for minor or incapacitated adults, as well as the creation of special needs trusts to help ensure the ongoing care of those with disabilities.

Contact Our Will and Estate Planning Attorneys Today

The above are basic tasks to ensure you and your loved ones are protected. For professional legal guidance in creating wills, POAs, and other estate planning documents, call or contact The Law Office of Paul A. Rossi, LLC, online today.