Estate planning is a process. It starts with your decision to prepare yourself and your family for the future. It can involve everyone important in your life - your family, your significant other, your friends, and maybe even the organizations most important to you. It also involves your assets and your property, and the various forms of ownership and title that those assets may take. It also involves deciding who should care for you and what decisions should be made regarding your life when you cannot make those decisions yourself.
Estate planning will determine:
Who will take of you if you cannot
Who will manage your assets if you cannot
Who your assets will be distributed to
How your assets will be distributed
How your loved ones will be taken care of
Everyone needs estate planning. Do not believe that just because you may not have a substantial amount of assets you do not need to plan your estate. Your estate is not just about your property and assets; it includes you and everyone and thing that you love and care about. That is why it is so important to make sure that you take plan ahead.
Trusts and Trust Administration
A Revocable Living Trust is a popular estate planning tool that is most commonly used to avoid having to go through the probate process to pass on assets. A Revocable Living Trust is known as such because they are revocable and able to be changed while the person is still living and do not become irrevocable until the person passes on.
In addition to avoiding probate, Revocable Living Trusts also have the advantage of preserving assets well past the time a person dies. Bequests and transfers of property made to beneficiaries under the Revocable Living Trust can also have numerous and complicated restrictions attached to them, a feature that is generally not available when transfers of property are done under a will.
Probate is the legal process that takes place after a person dies. In Indiana, the Probate Court handles all matters regarding the deceased's estate. The Probate process includes:
Opening an estate on behalf of the deceased
Validating the deceased's will
Paying off creditors and debts
There are many other responsibilities and duties that are involved in the Probate process. Probate has many downsides and is generally considered costly, time-consuming and best avoided for most people.
DISPUTES & EVICTIONS
Steciuch Law offers a variety of services to both Landlords and Tenants. Our law firm handles evictions, notices, communications and other formalities required in both evicting and collecting damages from a tenant.
On the other side, Steciuch Law can also help tenants recover their security deposit, fight unlawful evictions and work with landlords to make their properties safe and hospitable.
Click here to learn more about how Steciuch Law can help you with your Landlord/Tenant Disputes and Evictions.
In many cases, small claims cases are handled by each of the parties, pro se, which means without an attorney in a special court. The maximum amount of a judgment that can be awarded in small claims matter is $6000. While parties may proceed without an attorney, certain Indiana judicial rules apply to business entities such as Corporations, Limited Liability Companies and Limited Liability Partnerships that require a business to be represented by counsel if the value of the award they are seeking exceeds $1,500.