Estates
Serving Montgomery County and the Surrounding Areas
765-362-8168
Serving Montgomery County and the Surrounding Areas
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Estates

Wills, Trusts, and Estates

Many wills can be discussed, written and signed within 1-2 hours of work. The more complicated the trust structure, for example whether to be effective during the client’s life or upon his/her death as part of the will, the more expensive it will be. Avoiding probate with revocable or irrevocable trusts can be worthwhile, especially if your estate is above the estate tax exemption levels. No Federal estate tax is owed if your net estate is below $5 million. Indiana inheritance taxes have $100,000 exemption for each child.

With most estates, my fees get paid from the estate assets, at the same time distribution is made to heirs. As with all matters, once I understand what my client wants to do, I will quote a minimum hourly retainer and or a set fee. If this fee is not agreeable, you are free to hire other counsel with generally no cost to you.

As I mentioned elsewhere, I do not do taxes, consequently I limit my wills, trusts and estate practice to those situations where an accountant or separate tax attorney prepares the returns.   
 
No Will (Intestate Succession) – If a person dies without a will, Indiana law directs that person’s estate to be distributed as follows:
(a) Surviving Spouse gets half the net estate if there are surviving children or grandchildren, ¾ of the net estate if there are no surviving kids or grandkids, but there are surviving parents, and the entire estate if there are no surviving kids, grandkids, or parents. The surviving spouse also gets a separate $25,000 allowance, before any other heirs get anything. If no surviving spouse exists, children under 18 years of age equally split $25,000.
(b) children get equal shares, and grandchildren of deceased children equally split the deceased child’s share.
For more detail, look at Indiana Code 29-1-2-1.   

No Estate Necessary

If a person dies with less than $50,000, in total property value, you may dispense with opening a formal estate in Court and simply file an Affidavit of Transfer (see Indiana Code 29-1-8-3). 

Taking Against the Will: If a spouse is given nothing or very little in a will, the spouse may (pursuant to Indiana Code 29-1-3-1) take a 50% share of the net estate if there are children of the marriage, or one-third of the net personal property and one quarter of the net real property if the person is a second or subsequent spouse with no children. (Plus the $25,000 surviving spouse allowance). 

Will Contest: If you believe the deceased person was subject to undue influence, not of sound mind when they signed the will, or the will was improperly executed, you can fight to have the will declared invalid, and a prior will can be controlling, or Indiana laws of intestate succession (see above). 
Call 765-362-8168 to Schedule Your Appointment
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