An individual’s original estate planning purposes may be different today than many years ago. For instance, many estate planning attorneys in years past drafted estate plans in order for their clients to maximize estate tax savings. Due to legislation, estate tax planning is not usually a primary focus of estate planners.Read More
The attorney at Vick Law, P.C., Thomas Vick, describes how a small estate affidavit might be the most efficient and cost effective way to settle a loved one's estate.Read More
The attorney at Vick Law, P.C., Thomas Vick, describes both a supervised estate administration and an unsupervised estate administration. He also discusses why it might be preferable to avoid a probate administration altogether.Read More
This question is the main reason why young married couples enter the office of an estate planning attorney. The greatest concern for these clients is often not related to the efficient distribution of their wealth to the next generation. Rather, the greatest concern for young married couples is often the question of whom will care for their children if something traumatic should prevent both parents from caring for them. In fact, when a married couple has their first child, such is the opportune time to their first will.
It is critical that parents of minor children name an individual to serve as Guardian of their children in their last will and testaments. When both parents have deceased or are unable to care for their children, a probate court will look to the parents’ last will and testament in deciding whom shall serve as Guardian. Without the parents’ input through their last will and testament, the probate court may only have the opinion of self-interested family and friends to consider the question. Obviously, the most important opinion is that of the parents. Clients with young children do not want to leave the question up to anybody else than themselves.
Sometimes clients desire that stepchildren be treated no differently van the clients biological children. Other clients sometimes want only their children to receive their property. Thus, to answer this question it is necessary for the estate planning attorney to understand the family dynamics. Further, it is important for the client to understand the legal presumptions regarding stepchildren. While this blog post cannot address particular family dynamics, it can address the treatment of second marriages and stepchildren according to Indiana law.Read More
The attorney at Vick Law, P.C., Thomas Vick, describes advantages of a TRUST over a Last Will and Testament.Read More
The decision can impact whether the estate will be settled in a peaceful, efficient manner.Read More
Both documents, the Living Will and the Last Will and Testament, are quite different, but both play an important role in handling an individual’s affairs during a difficult time in an individual’s family.Read More
Avoiding probate is often a goal of many estate planning clients. Clients might have had a bad experience with a previous probate administration. As a result those clients may want to avoid probate if it all possible. Avoiding probate is possible and here are some ways to do so.Read More