January 31, 2023
Here is the bottom line: Children that reach the age of majority (18-years-old in Indiana) are considered legal adults, which means parents lose their rights not only over financial decisions, but also medical decisions. We all remember being 18 years old. We probably thought we could be an adult and handle most things on our own, but the reality is that being an adult is tough and everyone could benefit from help.
When we look at the necessity behind estate planning for 18+ years old, we need to approach it from two places: (1) this is a new transition in life and they need help with finances and medical care, and (2) there may be an instance of an emergency where decisions need to be made on your child’s behalf.
November 01, 2022
In this video, our attorney, Autumn Bryant, will review taxation of debt discharge for the $10,000 - $20,000 Federal Student Loan Forgiveness proposed by the Biden Administration in 2022. Please note that this applies to Indiana, but other states (listed in the video) will also potentially tax this debt discharge.
October 04, 2022
As Robert W. Service, a poet and bank clerk, once said, “a promise made is a debt unpaid.” Credit can be great a great way to pursue opportunities such as pursuing education, purchasing a home, or opening a business, but have you thought about what happens to debt upon your death if it is left unpaid? Most debt does not just “die” with you and addressing this when designing your estate plan with an attorney is something that is often overlooked. We don’t want our promises left during our lifetime be someone else’s burden, so why not have a plan?
July 12, 2022
For many of us, our pets are like our family members and if we pass away or become disabled and are no longer able to take care of our pets, we want them to be well looked after. Part of your estate plan is to provide your intentions and instructions for your belongings and for your loved ones, so it is important to have a plan for your pets as well!
May 24, 2022
Your digital assets may be just additional instruments for diversification in the present — but they could be the driving your portfolio in the future. Now that industries are undergoing a digital transformation, about one in five Americans are already investing in and trading cryptocurrencies and other digital assets. These assets offer a lot of potential for the future, especially since they offer better transaction speed, privacy, and security.
However, digital assets are often left out of estate plans. Now that digital assets are on the rise, it's crucial to recognize their potential for the future.
November 10, 2021
When you move, there are always a bunch of tasks to do: forwarding your mail, updating your address with financial institutions, and many other essential updates. Your estate plan should be on this moving “to do” list as well!
November 09, 2017
Estate planning isn't about picking the right document. It's about creating a plan for you and your family that will meet your goals and expectations.
May 16, 2017
Traditional "elder law planning" is neither centered on the Elder nor a proactive approach to planning. What are the problems with the current system and what can we as professionals do about it?
May 16, 2017
The Truth About Estate Planning is: the old way of doing things does not create plans that work.