At Ball Eggleston, we offer 120+ years of combined Estate Planning experience, which is why financial planners turn to us so often for planning advice and direction. Our expertise gives our clients peace of mind with respect to critical matters that impact their family and loved ones. Take steps to keep your property, finances, and other assets protected for future generations. Our attorneys can work with you to draft documents to ensure your will and trusts do what you want them to do. The team of attorneys at Ball Eggleston is well known throughout Indiana and are experienced in the practice of Estates & Trusts.
A trust is a fund comprised of a variety of assets intended to provide benefits to an individual or organization. The trust fund is established by a grantor, or an individual who provides the financial property, to provide financial security to an individual, most often a child or grandchild – or organizations, such as charity or other non-profit organization. Trusts funds can be composed of cash, stocks, bonds, property and other types of financial products. The recipient of a trust fund must typically wait until a certain age, or until a specified event occurs, to receive a yearly income from the fund. Prior to this, a single trustee, or a group of trustees, manages the fund by appropriating living expenses and perhaps educational expenses, such as private school or college.
There are two basic types of trusts: living trusts and testamentary trusts. A living trust or an “inter-vivos” trust is set up during the person’s lifetime. A testamentary trust is set up in a will and established only after the person’s death when the will goes into effect.
Estate planning is the process of anticipating and arranging for the disposal of an estate during a person’s life. It typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. However, the ultimate goal of estate planning is determined by the specific goals of the client and may be as simple or complex as the client’s needs dictate.
An attorney will work with you to evaluate your estate and typically help you establish your will, trust
The first step in the legal process of administering a deceased person’s estate is the receipt of probate. It is the probate court’s role to validate and approve a person’s will. If necessary, the probated will, now a legal document, can be enforced in a court.
Estate planning is definitely not “one size fits all,” so it is important to work with an estate planning attorney who has the experience and knowledge to assist you with your unique family and financial situations. You should also feel very comfortable sharing the most intimate details of your life with your estate planning attorney, otherwise your estate plan will fall far short of your expectations.
Aside from this, your estate planning attorney should be well versed in the laws of your state that govern probate, wills, and trusts,
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Ball Eggleston is located at 201 Main Street, Suite 810 P.O. Box 1535 Lafayette, IN 47902. Contact Ball Eggleston by phone at (765) 742-9046, by fax at (765) 742-1966, or by email at firstname.lastname@example.org. For additional information, find Ball Eggleston online at www.ball-law.com or see Ball Eggleston’s press kit here. You can also find us on Facebook and YouTube.
Disclaimer: The content of this blog is intended to be general and informational in nature. It is advertising material and is not intended to be, nor is it, legal advice to or for any particular person, case, or circumstance. Each situation is different, and you should consult an attorney if you have any questions about your situation.