A properly drafted will is a gift you give your loved ones.
By providing clear direction you spare them uncertainty and make the process of estate administration easier. Wills vary from simple to elaborate and can include instructions about care of minor children and gifts to charity.
While a will may be one of the most simple estate planning documents, it is not foolproof. The Law Office of Paul A. Rossi, LLC, can attest, a poorly drafted will can lead to costly court battles. By working with The Law Office of Paul A. Rossi, LLC, we can ensure that your will is legally valid, clear and unambiguous, and complies with applicable current laws.
Whether you need a will or a living trust will depend upon your goals and your financial situation. As a general rule, a living trust is more expensive to create and administer, but it saves money by avoiding probate.
A will, on the other hand, is less expensive to create initially, but requires your beneficiaries to go through the process of probate. Whether probate is an important issue for you depends on your circumstances.
Wills can work together with trusts to ensure that all of your property is transferred to your heirs. A will that handles this function is called a pour-over will, because it “pours” property that hadn’t previously been transferred into the trust at the time of death.
On the other hand, some types of property don’t require a will or a trust to transfer assets. Property owned in joint tenancy will go automatically to the surviving joint tenant. Assets that specifically name a beneficiary-pension funds, “in trust for” bank accounts, insurance policies-will go to the named beneficiary.
Our estate planning lawyers can help you in drafting a will that communicates your wishes to your loved ones. Contact our office to begin the process today.
Whether you need a will or a living trust will depend upon your goals and your financial situation. Call 219.690.1200 for a free consultation on which is right for you and your family.
CREATING A TRUST
NOTE: As a general rule, a living trust is more expensive to create and administer, but it saves money by avoiding probate.
DRAFTING A WILL
NOTE: A will is less expensive to create initially, but requires your beneficiaries to go through the process of probate. Whether probate is an important issue for you depends on your circumstances.
Probate and Estate Administration Lawyer
Indiana probate lawyer Paul A. Rossi helps surviving spouses and children administer the estates of loved ones. He provides legal advice to those entrusted to oversee the administration of wills and trusts and other estate documents. He also represents the interests of clients in court when valid estate plans do not exist.
Mr. Rossi has devoted 20+ years to handling estate planning and probate issues. When you need an experienced estate administration or probate lawyer, call his firm for committed advocacy.
Paul Rossi offers his valuable legal guidance to families throughout Indiana who want to protect assets after a spouse, parent, or loved one passes. Contact Paul A. Rossi, Attorney at Law for effective representation in the following matters:
Estate Administration – legal counsel for executors and trustees; independent administration of wills and trusts according to the Indiana probate code
Probate Administration – representing beneficiaries, family members, and other interested parties in probate court, estate disputes, and will contests
Guardianship – Indiana Probate court oversees guardianship mattes regarding the rights of incompetent individual who does not have an estate plan
Small Estate Affidavit – If a decedent’s assets are under $50,000.00 those assets can pass to the beneficiaries using a small estate affidavit
Powers of Attorney Premises Liability
There may come a time in your life when you are no longer able to make medical or financial decisions on your behalf. It is important to plan for that time now, rather than wait and force your family into an emergency situation in the future. By giving someone power of attorney over your medical and financial affairs, you and your family can obtain peace of mind.
Paul A. Rossi is an Indiana lawyer who enjoys helping individuals establish powers of attorney for their heal care and financial affairs.
Two Types of Power of Attorney
The two types are:
- Powers of Attorney for health care: When you give someone power of attorney over your health care, you are giving them the authority to make health care decisions on your behalf. These types of decisions can involve medication, treatment, nursing home care, surgeries, doctor’s visits, and other matters.
- Powers of Attorney for property: When you give someone power of attorney over your property, you are giving them authority to make financial decisions on your behalf. The affairs this person might handle include your bank accounts, paying your bills, or engaging in your real estate transaction.
Choosing Your Agent for Powers of Attorney
It is very important that you name a person you trust to act as your agent. Attorney Rossi can help you explore your options regarding who to choose and talk through the decision with you. You can choose one person to serve as both health care and financial power of attorney, or you can choose a different person for each type.
Mr. Rossi encourages you to talk to your family about who you have chosen. It is critical that you choose someone who can honor your wishes. If you have any questions about this process, Mr. Rossi is happy to offer his guidance.
To schedule your confidential consultation, please call Paul Rossi at 219-690-1200 or contact him online.