Autumn Bryant · July 16, 2024
Handling debt when a loved one dies can be very stressful. The duty of the Executor or Personal Representative named in the Last Will and Testament or the Successor Trust named in a Trust is to settle the estate of a deceased person. This doesn't just mean distributing assets to beneficiaries, but also settling debts as well. Here are some tips on how to handle unsecured debt after a loved one’s death.
Autumn Bryant · June 19, 2024
If you have a child, you certainly remember the first time that you left them with a babysitter. A list of emergency phone numbers was made, along with instructions for meals and bedtimes, lists of allergies, and even more. So why would you not create a thoughtful list of instructions for your child’s guardian should something happen to you long-term?
We will address different options to consider in creating an estate plan for your minor child.
Autumn Bryant · June 11, 2024
There are a lot of emotions involved in choosing a guardian since this designation assumes that you as a parent might not be around to care for your children. However, it is better to have a good option for a guardian designated and not have to have that person fill the role than for something to happen and not be prepared. That being said, it is important to pick the “right” person to fill this role.
Autumn Bryant · 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.
Autumn Bryant · 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.
Autumn Bryant · 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?
Autumn Bryant · 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!
Autumn Bryant · 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!