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This weekend we are holding my dad's memorial service.
Q: My brother and sister-in-law are going to watch our kids while we take a trip. Our estate plan is in place, but now I'm worried what will happen if one of the kids gets hurt while we are away. How do we authorize my brother to consent to medical care? Is this something we even need to wor…
Q: Is there a way to give a power of attorney to my children without giving up the authority to do things for myself? I don't mind them helping out, but I still want to do things for myself as long as I can.
Q: When does a person need a living trust?
Q: We just moved back to Indiana. Our wills were drawn up in Minnesota. Are our wills valid or should we have new ones drawn up?
My father passed away this past week. He celebrated his 84t birthday on Monday and passed away Friday.
"Here's your next column". That was the subject line on an email that my wife recently sent to me. Since I'm always looking for a topic for my column I excitedly opened the email.
Q: I executed a power of attorney a few years ago. I want to change the person that I named to someone else. How do I change the person? Do I need to revoke the old power of attorney and then write a new one?
Q: If I leave something to someone in my will, what happens if I give it away during my lifetime? Should I write a new will?
So I'm driving into the office this morning listening to National Public Radio.
While surfing the web I found an article about a flamingo that recently passed away.
Q: My parents don't have wills. If I understand it correctly, that means that my brother and I will get half of the estate if one of them dies. If we don't want half of the estate, can't we refuse it and let it go to the surviving parent?
Q: I have an old will that I forgot all about. How do I revoke it?
Q: What is a Lady Bird Deed? Can it be used to transfer ownership of our second home in Michigan to our family outside of probate?
Q: I know you have said you don't like adding children as joint owners on bank accounts, but I can't remember why. It seems like adding a child on the account would be a good thing. Why don't you like it?
This past week marked the 28th anniversary of my mother's death. I attempted to make the traditional visit to her grave, but 3 feet of snow made it impossible to locate.
Q: My dad passed away and we don't know what to do with the car. Can we sell it on our own or do we need to open an estate?
Q: My will creates a trust for my children. Can I name the trust in the will beneficiary of my accounts and life insurance?
Q: My mother has a revocable trust and I am now the trustee. It looks like the house is in the trust but nothing else. Shouldn't she have put everything into the trust? How do I get the assets into the name of the trust now?
I don't know about you, but I'm a huge "Downton Abbey fan."
Q: How much can I gift this year? Does the amount go up in 2014?
Q: What happens if a family can't agree about funeral arrangements for a parent? Who gets final say?
Q: You said in a previous column most personal property owned by a married couple is jointly owned. How do you know for sure?
I've been following a tragic story involving a hunter in our home state. The hunter apparently fell out of his tree stand and severely hurt is back. While in the hospital, the family was told that the man would be paralyzed from the shoulders down and would likely never breath on his own aga…
As an attorney, I'm required to attend a certain number of continuing legal education seminars each year to stay in good standing with state bar. This year I attended the Notre Dame Tax and Estate Planning Institute. Two days of Wills and Thrills.
Q: My husband and I have been married more than 30 years but most of our property is in his name alone. I've tried to get him to add my name to the property or draw up a will, but he says it isn't necessary. He says I will get everything anyway, but I don't think that's true.
Q: My husband and I own all of our assets jointly. How do I leave something to my family if I die before him?
Q: Since life insurance proceeds payable to an estate are no longer subject to inheritance tax, is it OK if a person doesn't name a beneficiary on a policy so it goes to the estate?
"What do you mean I don't get it all? We were married".
Pull the plug. It's one those phrases that has made it into daily lexicon. Sometimes it's the punch line in a sitcom. Other times it's phrased as a question asked during an uncomfortable conversation with a parent. Sometimes it's a statement made to an attorney who is trying to help a client…
Q: What happens to the personal property when a spouse dies. Do the kids have any rights to it? Does the will control where it goes?
Q: My parents and I met with an attorney to discuss creating a trust. The attorney said even if they had a trust, they would still need wills. He tried to explain why the wills would need to be probated. If they have a trust why do they need wills? I thought the trust would eliminate probate.
Q: My mother has made changes to her will by writing on it and crossing things out. I told her that this will cause problems, but she refuses to pay an attorney to do it right. Will writing on the will invalidate it?
Q: My parents own a farm and they want to start gifting it to my siblings and I. What is the best way for them to do that?
I recently received a message from a client. The message indicated he received a letter from the Indiana Records Department about the transfer on death (TOD) deed I prepared and recorded.
Q: What can a beneficiary do if a trustee isn’t following the trust? How can he force the trustee to do what he is supposed to do?
Q: If a person who has a revocable trust of his own and also is the ongoing beneficiary of another irrevocable trust dies, can the irrevocable trust distribute the money to his revocable trust rather than directly to his children?
This past Sunday, my family and I went to the U.S. Steel Yard and watched the RailCats play from one of the outfield party decks. As we sat with friends watching the game, Logan, one of my 11-year-old twins, watched the game from the grassy area at the outfield wall hoping to catch a home run.
Q: Can I amend my father’s trust using the power of attorney that he gave me? If not, is there any other way to amend the trust?
Q: What happens if a child is born after executing a will? Is the new child included?
Q: I set up a trust about 10 years ago. Since then, I have spent down my estate and am unsure whether I should keep the trust for the limited assets I have remaining. My question is should I keep my trust and if so, why? How do I revoke it? Can my heirs just ignore it?
Q: My partner and I have been living together for almost 10 years. Is there anything special that we need to add to our wills?
Q: What happens if a person named in a will dies before the person making the will does? How is it determined who gets his or her share?
Q: I intend to leave all of my money to two charities but I'm concerned that my children will object. I'm worried they will challenge the will. Is there anything I can do to make sure that my wishes are carried out? Should I name someone other than a child executor?
Q: In researching claims, it appears that there are two statutes of limitations that could apply. One is three months and the other is nine months. How do you know which statute of limitations applies?
Q: Can I use a power of attorney to appoint different children to do different things? Does my daughter, who is on my checking account, also have authority over my IRA or can I name another child to take care of that? What about medical decisions?
Q: We have three children all of whom are married. One of our son's wives is nice, but we aren't sure that we trust her. How do we make sure she stays out of our estate plan? Is there anything we can do to make sure she doesn't inherit our property?
Last week I wrote about the importance of planning for your digital assets. If you read last week's column, you know that I feel this area of estate planning is going to become more and more important in the future. As we expand our online identities, planning for it is going to become inevitable.
I recently received an email from a reader regarding estate planning in a digital age. The reader had seen a news program on planning for digital assets and thought that it was something that I might be interested in. He was right.
Time to catch up on some of the questions that readers have sent in.
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