Sound Advice About Indiana Wills, Trusts and Powers of Attorney
Estate planning involves more than simply describing what beneficiaries will receive under the terms of your last will and testament. Depending on your specific objectives, a sound estate plan can also allow for the future care of a relative, provide for the continued operation of a family farm or business, or provide for the allocation of assets in a manner designed to minimize tax consequences.
At King & Scott, LLP, you will work face-to-face with an experienced Kokomo estate planning attorney who can help you define your objectives and priorities, and then develop a personalized estate plan that expresses your intentions in clear terms. Most families use the following instruments as a basic foundation:
- A last will and testament to distribute property among beneficiaries you designate, rather than allowing property to pass to statutory heirs or even the State under the laws of intestate succession;
- A durable power of attorney to appoint people you know and trust to manage your financial and/or health care matters if you become incapacitated, as opposed to having someone else establish a guardianship for you after you have already become incapacitated;
- A living will to express your clear intentions about what health care you wish to receive, and what health care you do not wish to receive, at the end of your life.
Trust instruments are also sometimes used to achieve more focused goals or to protect particular family members under certain conditions. For example, establishing a trust to provide for the succession of a family farm or business can be addressed through trusts, family limited partnerships, buy-sell agreements or other instruments that can balance different interests while providing for the smooth transition of property from one generation to the next.
Call 888-722-0374 for Advice About Wills and Trusts in North Central Indiana
To learn more about the ways that customized estate planning solutions can advance your personal and financial goals, contact a Kokomo estate planning lawyer at King & Scott today.
