Services

                                        Last Will and Testament

A will is a document in which an individual can direct the administration and distribution of his or her estate. When you prepare your will, you specify what you would like to have happen with your assets, including distribution of funds, and guardianship of minor children.  A will has several advantages when compared to other forms of estate planning such as living trusts.

Indiana's minimum requirements to execute a Will are fairly simple. A formal Will can be attested by two witnesses, who should not be named as executor or as a beneficiary. A Will effects all assets that belong to you at the time of your death.  A Will is generally more simple than a Revocable Living Trust, and is usually significantly less expensive to have professionally prepared. 

Testamentary Trusts: If you need for your Will to delay the distribution to one or more beneficiaries until they reach a specified age or some other event, then your Will must include what is called a "Testamentary Trust." This form of Trust has many drawbacks which, with proper Estate Planning, can be avoided.  After the Will goes through probate and the administration of the probate estate is complete, the testamentary trust receives the assets which were allocated to it. Testamentary Trusts are also subject to continuing court supervision beyond the initial probate proceedings. Certain tasks are then assigned the Trustee such as annual accountings to the Court and periodic hearings.  These time and cost issues negatively impact the value of the estate. 

Revocable Living Trust

Most people, if asked, would like to avoid having their estates go through the process called probate, due to the expense, time delay attributable to various notices and waiting periods, paperwork required to be filed with the court, and potential court hearings.  A Will, while a very good tool for some people, does not avoid probate.

A Revocable Living Trust is one tool that can help you avoid these complications.  When a Revocable Living Trust is used, the person  creating the Trust (generally referred to as Trustee, Grantor or Settlor) retitles assets in the name of the Trust.  Even though the assets are transferred into the trust, this Trustee still has the right to manage the assets of the Trust without Court intervention.  For example, instead of owning my home as Gary Bolenbaugh, the name on the deed (or title, account, or security) is changed to the "Bolenbaugh Trust dated September 4, 1999." When I go to sell that asset (which I maintain the right to do) I simply sign as Gary Bolenbaugh, Trustee.

A Trust works well for both single individuals and married couples.

Adult Guardianships

As we age, we are at risk for many ailments which take away our ability to effectively manage our financial matters.  If a loved one becomes labeled as "incapacitated" due to Alzheimers, Dementia, or other physial or psychological trauma, you may need to seek the court to name you as Guardian over them.

Whether you are seeking to obtain a Guardianship over a loved one, or to prevent the need through the effective use of Powers of Attorney, we can assist you.

                                                  Business Law

We do a variety of business law matters ranging from new incorporations to contracts and agreements of many kinds.  We can review your agreements or create anew.  Call to discuss this further.