Top 10 Tips for Estate Planning in Indiana
Estate Planning is Not Just Planning for When You Die, It's Life Planning. You Need to Consider Your Wishes During Life, as Well as Your Wishes at Time of Death
Get Organized!Make a list of your family members, their addresses, ages, and relationships to you. Also note any special needs they may have. At the same time, make a list of your assets, including real estate, bank accounts, insurance policies, retirement accounts, vehicles, and other personal property. List the value of each of the items. Decide how you want these assets distributed, and under what conditions.
Who do you want to make decisions for you, if you can't?Life can change in an instant. If you are still alive, but unable to make decisions for yourself, who do you want to make those decisions for you? And if that person is deceased or unable to act, who would be your alternate? What are your wishes regarding life-end decisions?
If you do nothing, the state dictates the result.The Indiana Legislature has adopted a statute that dictates who inherits your property if you have no will, and who can be appointed by a court to administer your estate. You may not agree with this result, but you have no choice in the matter.