A Lawyer Helping You Plan for Every Stage of Life
One of the biggest fears people confront in life is not knowing what will happen down the road. These uncertainties can include not knowing what will happen with your assets after you pass, not knowing who will take care of your children if both you and your spouse should die, and not knowing the impact of a divorce or remarriage on an existing will.
Working with a dedicated estate planning attorney to create or amend a will can give you a measure of control and alleviate some of this anxiety. By addressing in advance what will happen to your assets or your children, you lay the right foundation for peace of mind tomorrow — both for yourself and the loved ones you leave behind.
I am attorney Colleen Skole, and I help individual and families throughout Indianapolis, Indiana, and surrounding areas plan for their future. Contact me online or call 317-569-9644 to schedule your free initial consultation.
Wills for New Families
Many people find that, after the birth of their first child, their own mortality becomes much more real. If you are a new parent, having a will lets you protect your child and your spouse in case you die. In addition, it allows you and your spouse to name a guardian, the person or persons who will care for your child should both parents pass:
- Guardian of child: This person has responsibility for deciding where the child lives and makes decisions about their welfare.
- Guardian of property: This person has fiduciary responsibility toward the child and is responsible for spending money for the benefit of the child.
These can be the same person, though not necessarily so. The key factor for both is that the guardian acts in the best interest of your child. A properly-drafted will ensures that your child will maintain the same lifestyle he or she is accustomed to while you were living and that your future plans for him or her will be carried out.
Wills for Single or Married People Who Think They "Don't Have Anything"
Some people mistakenly believe that they do not have enough assets or property to justify having a will. However, most people, by the time they are in their 30s, have a car, house, retirement funds and life insurance. When you add everything up, you likely have more assets than you think, and a will lets you dictate where your assets go after you die. Remember, if you do not specify your wishes about how you want these assets distribute, the State will decide for you!
People Who Already Have a Will
If you already have a will but have not looked at it in a while, it may be time to revisit it. In the intervening years, you may have experienced various life changes that create new needs and goals. If your old will no longer accurately reflects your wishes, it should be amended. Life changes can include:
- Children who are no longer minors: This may free up money from a testamentary trust that was established when they were small. Your children, now that they are older, may responsible enough to handle their own finances.
- Divorced, marriage or remarriage: Your old or new spouse may have claims that impact articles of your existing will, or you may wish to include a new spouse or family members.
- Changes in real estate ownership: If you bought a home, bought investment property or are empty nesters who have downsized your home, an amendment to your will may be in order.
- Changes in retirement funds: Especially given recent economic uncertainty, changes in assets could also call for an amendment to your will.
Understanding the Process
Prior to our first meeting, I will send you a "Will Organizer" that includes a packet of questions that will help you formulate your concerns and goals. During our meeting, we will go over the Will Organizer, discussing your situation in more detail and addressing your questions. After the meeting, I will draft your will, and we will review and execute it at a second meeting.
Contact a lawyer who is committed to helping you plan effectively for your future. Contact me online or call 317-569-9644. Your initial consultation is free, and I charge a flat rate for wills.