Those in the Hoosier State owe it to themselves and their families to think ahead and plan sensibly for the future. This means facing the fact that humans are mortal. Making an estate plan for the future necessarily involves making a will, especially if there are children in the family.

Once a person has decided to make a will,

Most people consider wills for estate planning; however, this is not the only option. In addition to avoiding probate, a revocable living trust may offer you significant before-death and after-death advantages.

In general, a trust involves three parties: the creator, the trustee or trustees (who agree to manage the assets according to the terms of the trust) and the beneficiary or beneficiaries.

James Gandolfini was made famous by playing a vicious mob boss who often resorted to violence to solve problems. In reality, the actor had a reputation for kindness and generosity, two traits that are apparent in his estate planning documents which provide ample support for both of his children.

Instead of providing an even split to his children,

A trust is an instrument that many people use in conjunction with a will to handle wealth management after their death. However, just as disputes can arise between family members over a will, disputes can also arise over administration of a trust.

Trustees designated to manage the trust have duties,

The death of actor Philip Seymour Hoffman in early 2014 has drawn the spotlight to the issue of estate planning, particularly how even the wealthy and famous make estate planning mistakes. Hoffman’s will, executed in 2004, is structured in such a way that the bulk of his estimated $35 million estate will go to his long-time partner (the couple were together for nearly 20 years but never married),

When asked to name the purpose of estate planning, most people would say that it is to ensure that their assets go to the persons or institutions of their choice. Although having the necessary trusts and wills in place to accomplish this is important, there is another aspect of estate planning that most people overlook-incapacity planning.

Most people in Indiana have a checking account at a local bank that they use to pay their bills. They have a debit card that allows them to pay their bills online. Some may have even set up automatic payments that allow for money to be deducted from their accounts each month with the bills become due.

Baby boomers in Indiana can help protect their assets with an estate plan. These tips can help them avoid making common mistakes.

Baby boomers, those born between 1946 and 1964, have worked hard to build their assets. This dedication to working hard and a desire to provide for loved ones is ingrained in many boomers.