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Do All Assets Have to Pass through Probate?

Some assets pass through probate when an asset holder dies. However, not all assets must be forced into probate. Sometimes a will is not the ideal mechanism for ensuring that your assets are efficiently passed to your loved ones. We outline everything you need to know about the probate process and its effects on your assets. What Is Probate? Probate is the name of a legal process that is set in motion after someone with assets dies. The court analyzes the deceased's estate and oversees the transfer of estate assets to the new owner. Probate can occur with or without a will. However, if a will is involved, its validity is also determined. During probate, the court names an executor o ...

What Happens to a Trust After Divorce?

A divorce will impact more than just your children and spouse. It may also impact your estate plan. Before or during your marriage, you may have to revise your will or even divide your trusts and assets, preferably with an estate planning attorney. But what happens to a trust when you divorce? Remember, having a trust is beneficial for many reasons. It can protect assets from taxes and other issues; however, some issues may arise if you plan to get a divorce. Knowing your rights and the laws regarding property division for trusts is helpful. Using the services of an attorney will ensure that you make the right decisions regarding the trust and asset division. How Does the Court Cla ...

Does It Matter Who Files for Divorce First?

Indiana is a "no-fault" state, which means that you do not have to make any allegations against your spouse to file for divorce. When you file a Petition for Dissolution of Marriage, you only have to state that the marriage is irretrievably broken. Thus, on the surface, it does not matter who files for divorce first. Even when both spouses want to divorce, it can be a scary time as you are embarking on a new chapter of life. And, you have several unknowns ahead of you, such as how long the divorce process takes, whether your spouse will argue over division of property, visitation, and support, and other factors you now have to deal with. Our divorce lawyers can help you through the entire ...

Is probate needed if there is a will?

There are several things to keep in mind when you’re asking yourself, “Is probate needed if there is a will?” In some cases, you may not be able to avoid probate altogether, but you can certainly shield some assets from having to go through probate and simplify the process of probating your will. Only assets that the deceased person owned solely in their own name need to go through probate. All other assets pass to beneficiaries without oversight from the probate court. For example, placing assets in a trust – such as real estate, belongings, and other valuable items – is a way to prevent these items from being part of probate. In another example, making bank accounts “pa ...

Avoiding probate in Indiana

One of the greatest gifts you can give your loved ones is an estate plan designed specifically for your family. When you take the time to talk to our estate planning attorneys, you can proactively explore a will, power of attorney, trust and other documents that will serve your loved ones for decades. An estate plan also can be key to avoiding probate in Indiana. The time to think about estate planning is now, while you’re healthy and have time to talk to your heirs about your inheritance decisions. There are many reasons why people want to avoid probate – it can be lengthy, expensive, and stressful for surviving family members. With a few simple steps, you can minimize the impact of ...

How do I spend down assets for Medicaid?

Many older adults find in their later years that they need long-term care, whether in-home, in the community or in a nursing home. To be eligible for Medicaid long-term care benefits, a person must meet certain state income and asset guidelines. Much like the tax laws, the Medicaid laws are filled with exceptions to the rules. On average in Kentucky and Indiana, with the help of a Medicaid planning attorney, married couples will save 95% to 100% of their assets and obtain long term care benefits for the incapacitated spouse. For a single person, families can often save at least 50% of their aging parent’s assets and obtain long term care benefits. With advanced planning, a single person ...

What Happens If There Is No Will in Indiana?

People often put off creating a last will and testament either because they’re too busy or they don’t like contemplating end-of-life issues. But postponing a will is not a good idea. It can create confusion, expense, and delay for your loved ones after you’ve passed away. When someone dies without a will in Indiana, it is called “intestate succession.” It’s a complicated legal term, so the better way to think of it is by asking, “What happens if there is no will in Indiana?” If you die without a will in Indiana, your assets will pass to your closest relatives. These assets include only items that would have passed through a will under Indiana’s intestate laws – ty ...

What Legal Rights Does a Non-Custodial Parent Have?

While divorce is difficult and often incredibly emotional, its effects go far beyond the separation of two adults who no longer wish to be married. When minor children are involved, decisions about custody must be made. Decisions are made based on the best interests of the child. And unless a parent has serious problems that could endanger the child, the courts typically favor the involvement of both parents in raising their children. Most often, parents share custody in Indiana. The parent with whom the child spends more time is typically considered the custodial parent. The other parent is the non-custodial parent. The term “non-custodial” can be confusing. It might lead some no ...

Can a Trustee Remove a Beneficiary from a Trust?

In most cases, a trustee cannot remove a beneficiary from a trust. The trustee’s job is to administer the trust and act in a fiduciary capacity. However, there are at least two instances in which a trustee could remove a beneficiary: 1. The trustee is the creator (grantor) of their own revokable living trust. 2. The trust document explicitly and clearly grants this power to the trustee. If the grantor of a revokable living trust wants to make changes at any time to his or her own trust, they can. This is one of the reasons this type of trust is created: it gives the grantor a lot of flexibility in changing, expanding, or contracting the terms of the trust while the grantor is stil ...

How is Pet Custody Determined in the Divorce Process?

We Know the Treatment of Pets in the Divorce Process Is Important to You. A pet custody agreement drafted by skilled divorce attorney is essential. Most people consider pets to be part of the family, not property. The law sees them differently. Thankfully, our divorce attorneys know a way you can work around that fact. There are steps you can take to create a pet custody agreement during a divorce. This agreement will help determine how pet custody will be handled in your divorce. We love our pets, and for good reason. Companion animals have been known to lower stress, teach children compassion, and help ease symptoms of depression. When it comes to divorce, deciding who gets Flu ...

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