No one wants to talk about the end of his/her life. It is a difficult and painful subject. Similarly, very few people look forward to consulting with an Indiana estate planning lawyer. But if you don’t plan correctly, you will likely create a hardship upon those you love most. Hiring an Indiana estate planning lawyer to create an estate plan can help to put your wishes into practice and also prevent putting a financial strain on your loved ones after your passing. Here is a list of all the reasons you should consider hiring an Indiana estate planning lawyer and developing an estate plan if you do not already have one:
- Your Passing is Inevitable. No one likes to talk about it, but none of us can live forever. Sooner or later, all of us will die, and believe it or not, oral or even written promises during your lifetime are not enforceable after your death, unless properly executed and witnessed. An Indiana estate planning lawyer can effect your wishes, and it is more inexpensive than you probably think.
- You Never Know When Something Tragic Could Happen. As much as we avoid thinking about it, tomorrow is no guarantee. Any number of accidents, health related events, or other factors could put your life or health in unexpected jeopardy. Being prepared for the unexpected is important for your peace of mind, and can relieve your family members from the burden of taking care of you and/or your estate. Hiring an experienced Indiana estate planning lawyer can help you plan for the unexpected.
- To Ensure That Your Wishes are Enforced. Of course, if you intend for your property to be distributed according to the wishes of the Indiana General Assembly (as it may change from time to time), and you don’t care who gets to actually distribute your property, then maybe you don’t need an estate plan. Estate planning documents guarantee that your wishes are fulfilled. Especially in cases which you wish for particular property to go to particular family members or where you wish for your property to be distributed other than evenly, an Indiana estate planning lawyer can ensure that these wishes are fulfilled. Without an estate plan, there may be ambiguity and/or uncertainty about which family members will inherit what you have left behind, possibly leading to #4.
- To Prevent Conflicts Between Family Members. When you pass without an estate plan in place, this leaves ambiguity and uncertainty about what is to happen to your property. This ambiguity and uncertainty can lead to fighting between family members over your property. Such fighting can last many years and can deplete the value of your estate, thereby frustrating your original wishes. If your wishes are made clear by an experienced Indiana estate planning lawyer, you can likely prevent your family members from fighting over your assets, and creating unnecessary conflicts.
- To Avoid Paying Excessive Taxes. A good estate plan put together by an experienced Indiana estate planning lawyer contemplates minimizing the tax consequences of transferring property from one person to another. No one wants their property to end up in the hands of the government. Proper estate planning can minimize this tax liability to maximize the amount of property that reaches the heirs you wish to receive it.
- To Prevent Your Estate from Going to Lawyers and Creditors. This one is related to #4. Conflicts between family members often results in excessive attorney fees and litigation. The more clear your estate plan is, the less chance that it will end up in the pockets of the lawyers in the litigation process, thereby allowing your property to go where you want it to go–to the people who matter most to you. The right Indiana estate planning lawyer can minimize the risk of this happening.
- To Make it Clear Which Medical Services You Wish to Accept or Refuse. Certain documents in estate planning do not relate directly to the distribution of your property. It is important that your healthcare wishes are put into effect as well. Do you want assisted breathing? Do you want artificial circulation? Dialysis? Do you want to continue to remain alive while in a coma? Do you want artificial nutrition? These are all questions that your loved ones will want to know, should you become incapacitated. An experienced Indiana estate planning lawyer can make these wishes known can minimize the burden and stress upon those making the decision, and proper estate planning documents put together by an experienced Indiana estate planning lawyer can accomplish this.
- To Make it Clear Who is to Take Care of Your Children if You and Your Spouse Pass Simultaneously. As related to #2, you never know when something could happen. More specifically, you never know when something could happen to you and your spouse at the same time. If this unfortunate event should occur, who do you want raising your children? Who do you want making decisions for them? Proper estate planning documents can ensure that your wishes for your children are put into effect, and that they are put into the care of the person(s) you choose. This is especially important when you have young children and/or when you have life insurance polic(ies).
You Need an Indiana Estate Planning Lawyer for a Proper Estate Plan
Preparing an estate plan is no easy task. The laws and rules change constantly, and the requirements for making certain documents valid or enforceable requires meticulous detail and skill. Only an experienced Indiana estate planning lawyer can help you with your Indiana estate planning lawyer needs. The experienced estate planning lawyer s of SFTLawyers can assist you with the plethora of estate planning documents that go into a proper estate plan. CALL TODAY for a FREE CONSULTATION for your estate planning needs! (219) 841-5683.