Why Do I Need to Complete or Update My Estate Plan?
We have all experienced those moments where we think “I need to complete or update my estate plan.” But it may be that the last 2 ½ years have served as the strongest reminder. Do you remember the moment when you realized the world was shutting down? Somewhere towards the end of March 2020, we […]
Estate Planning for Young Adults Over the Age of 18
High School graduation is a time of excitement and joy for most parents and their children. Shortly thereafter, those children are headed off in various directions – the workforce, college, trade schools, etc. As parents, we often do not realize that when a child reaches the age of 18, in most states our rights to […]
2018 Estate Planning Updates and Reminders
Under the recently passed Tax Cuts and Jobs Act (“TCJA”) various estate and trust provisions were affected. These changes are generally effective for tax years 2018 through 2025. The following are some of the highlights and updates of the new provisions: 2018 RATES & EXEMPTIONS: Estate and Trust income tax rates begin at 10% with […]
The Benefits of the Indiana College Choice 529 Plan
Named after the IRS Code Section that created them, 529 plans assist parents and family members in saving money for a beneficiary’s higher education. There are many 529 plans throughout the country but this article will focus on the Indiana College Choice 529 plan. The Indiana College Choice 529 plan is very flexible and affordable. […]
Succession Planning: Protecting and Transferring Your Assets
Because life’s journey is full of both long-awaited milestones and untimely surprises, succession planning is essential for ensuring your business and personal assets are protected and directed appropriately. Forming a well-drafted buy-sell agreement with your business partners, or using various transfer on death arrangements with your family members, is critical to a smooth transition when […]
Effective Estate Planning
Your estate is comprised of everything you own – your personal residence and vehicles, bank accounts and investments, furniture and belongings, life insurance and more. Each and every one of us has an estate, which regardless of its value, needs an estate plan. In Indiana, if the net value of your estate exceeds $50,000 and […]