Estate Planning Attorney Greenfield IN
Estate Planning involves a variety of documents that make up an overall comprehensive plan that meets the facts and goals of your family. Here at Martin Law Firm, we will put that comprehensive plan together that fits your needs to protect yourself and your legacy.
Your Greenfield IN Estate Planning Done Properly
It’s important to stay in control of your finances and assets throughout your life, but have you given consideration as to what will happen to your estate once you have passed on? No one wants to think about it, yet estate planning is something we all will have to face. With the assistance of an experienced estate planning attorney, you can rest assured that your loved ones and heirs will be well-taken care of should anything unexpected happen.
At Martin Law Firm, you will get the experience and legal care you deserve from an estate planning attorney that is dedicated to helping you understand your options, and ensure that your final wishes are carried out to the letter. From document drafting and preparation, to filing and expert legal counsel, you will get an experienced attorney that will ensure your estate is in proper order.
What is Estate Planning?
Your estate is comprised of all the assets you own. This includes your home, car, investments, bank accounts, life insurance, personal belongings, and more. Everyone has an estate, even if that estate only consists of personal possessions.
Estate planning is essentially determining who will get your assets once you pass on, or control your assets if you become incapacitated and are no longer capable of handling your affairs. It also involves selecting someone or institution to carry out your wishes.
Estate planning can also involve appointing someone to make medical decisions on your behalf if you become extremely ill or incapacitated in the unlikely event of an accident.
What You Should Consider When Planning for Your Estate.
There are many issues to take into consideration when putting together your estate plan, including but not limited the following:
- How would you like to be cared for if you were to become ill or disabled?
- Who will act as a guardian for your children or minor dependents when you die?
- Do you want to set up a plan to pass on your values such as religious beliefs with your assets?
- How will you provide for family members with disabilities without disrupting state assistance?
- Who will make your medical and financial decisions if you become incapacitated?
- How do you minimize the tax burden your heirs will face after you’re gone?
- What forms of life insurance, long-term care insurance, and disability insurance should you choose?
- Who will take over your business if you were no longer able to run it?
- When would you like your assets to be divided amongst your trustees and beneficiaries?
At Martin Law Firm, the appropriate amount of time will be taken to get to know you, your needs, and your concerns surrounding your estate. An experienced attorney will then work with you to create solutions tailored to ensure that your unique and specific wishes are carried out in the future through a comprehensive estate plan.
Essential Estate Planning Documents
A comprehensive estate plan may be composed of multiple documents that our office can expertly draft and tailor to your unique requests.
Some of the essentials include:
Whether it is a simple will or a complex will that includes testamentary trust language for any minor children, subsequent spouse, we at Martin Law Firm are here to help guide you through the process.
Our firm can guide you in preparing a Revocable Trust. A Revocable Trust is an entity created during your lifetime, which allows you to designate yourself or in some cases another person(s) to manage your assets of the trust, you will likely be the lifetime beneficiary, and you would also name future beneficiaries to receive the assets of the trust after you pass away. The future beneficiary(s) would receive those assets outside of the Probate Court System and avoid those costly probate fees.
Our firm can guide you through a more complex trust called an Irrevocable Trust. An Irrevocable Trust is a separate entity created in your lifetime that can be used to shelter and protect your assets with the goal of long-term care planning. You would designate someone else as your trustee to manage the assets of your trust, you would be the lifetime beneficiary, and you would name future beneficiaries to receive the assets of the trust after you pass away. The future beneficiary(s) would receive those assets outside of the Probate Court System and avoid those costly probate fees.
Special Needs Trust:
Our office assist you in creating a Special Needs Trust that will help you look after your special needs family member now and after you pass away that will include planning for their present and future finances and make sure their inheritance is protected and will not jeopardize any present government benefits they may already be receiving or receive in the near future.
General Durable Powers of Attorney (Financial):
A durable financial power of attorney allows you to designate a trusted person or persons to manage your business or financial affairs in the event that you become incapacitated by an unforeseen illness or unfortunate accident.
Advance Directives (Health Care, Living Will):
The Advance Directive document, also previously known as a living will and health care powers of attorney, allows you to designate a person or persons to make medical decisions on your behalf in the event you become incapacitated and allows you to make end of life decisions.