Indiana Last Will and Testament Lawyers
Serving Valparaiso, Lafayette and Granger
“All you need is a will.” We have heard that mantra for years. While it is true that a Last Will is part of most Estate Plans, it is often only a part. So, what is a Last Will and Testament? A Last Will, sometimes called a Last Will and Testament, guides the Probate Court (or Magistrate in some Indiana counties) overseeing the probate of an estate (for more information about probate). It nominates a person to be appointed by the court as the personal representative to supervise the probate estate.
Call Rice & Rice today at (219) 240-0450 or contact us online to schedule a meeting with US! Serving clients across Indiana, Illinois and Michigan from our offices in Lafayette, Valparaiso and Granger.
What is an Executor of a Will?
One of the most common terms when discussing managing affairs after someone dies is “Executor.” Unfortunately, it is often overused or improperly used. The executor of an estate is a person nominated in a Last Will and appointed by the court. Sometimes, people with trust or who go through probate without a will refer to the person in charge as executor. Legally, that is not the case.
As a side note, a person who is not officially appointed executor should be careful about using the term. An Executor has a level of responsibility to the estate, which includes beneficiaries AND CREDITORS! Unless you have authority and responsibility to creditors, you do not want them to think you do. They tend to hold a person to that to try to be paid for outstanding balances.
How Your Last Will Determines Asset Distribution
A Last Will also gives the court guidance on who you want to be an heir of a portion or specific item(s) in your estate. A properly prepared Will provides a staggered plan of distributing assets to specific people – My Son, John – or groups of people – My Then Living Nieces. The Will provides “What if…” directions if one of those named people is not living or disclaims a distribution.
Ultimately, the Will provides a plan for the “residue” of the estate. The residue is any asset(s) not covered in the prior distribution plans or that slip through for several reasons. Wills are a very old (think Old England) method of a person controlling the transfer of assets at his/her death. Because of that, they are a very formal document. There are specific components, particular order, and execution required to be found valid.
Essentials of Valid Wills in Indiana
Legally, the signing of a Will is a ceremony. Lacking an essential piece might invalidate a Will. A Will must be found valid to be accepted by the court. An invalid Will may cause an intestate probate estate. An intestate probate uses Indiana state law to dictate who your heirs Will be.
In some situations, probate may not be necessary, so the Will is not used. In Indiana, an estate valued at less than $100,000, including a reduction by some specific expenses, qualifies as a small estate. A small estate does not necessitate the formality of probate. It is possible to have a very large estate avoid probate and leverage a small estate claim to clean up loose ends. Planning is key.
A specific plan designed to meet your needs is critical. We invite you to schedule a time to chat with us about your thoughts and concerns about how you can take care of those you love and the things you own.
Trust your family's future to our Compassionate team of attorneys.
This Book is a Financial and Legal Guide to the Ins and Outs of the Only Government Program That Will Pay for Long-Term Nursing Home Care: MEDICAID
Decades of Over 15,000 Happy Clients
Here's What Some of Our Clients Have to Say
-
Granger Reviews
Setting up my trust with rice and rice was the best experience because they took their time went over everything. I was able to comprehend the trust in layman’s terms. Thank you to Jeff and Tom at the Granger office also to Crystal! - Sarlin Y.
I've dealt with a lot of attorney's in my profession and don't have a very high opinion of many of them. They all are expensive and Cliff is no exception but I found him to be kind, knowledgeable and I was happy with what I received. The staff was very friendly and supportive. - Trina H.
Great service. Tom explained everything in terms we could understand. We suggest Rice and Rice for your all your estate planning and elder law issues. - Cheryl V.
Tom was most excellent, helpful, and informative. A pleasure to meet and get his help with our Trust. - Philip V.
-
Lafayette Reviews
Our experience with Rice and Rice was very favorable. All of the attorneys were friendly and very helpful in explaining our situation while walking us through our options. The Lafayette staff (Melody and Crystal) were super gracious in facilitating our requests and meeting our needs. I cannot say enough about this faith-based organization and would highly recommend their services. Thank you. - Larry S.
Very knowledgeable, helpful, & thorough. All of their staff is wonderful! Thank you for helping us secure the future for our family! - Angela H.
Cliff is very knowledgeable and guide you through making some very important decisions with his information that he provides. Cheri and I are very impressed! - George K.
Super great service, and really high on education of the clients. Everything is explained, especially super detailed and clear to the point that you easily understand every step you’re going through. - Aimee N.
A great experience, Am glad I have used Rice and Rice to prepare my estate. Very professional and very responsive to my questions and needs. I highly recommend them for estate planning. - Daniel N.
-
Valparaiso Reviews
Anyone can go anywhere for estate planning, but at Rice & Rice they really connect with you. Your stories and tears are really more than just stories and tears. I highly recommend & very thankful for them! - Roman M.
Rice & Rice are very professional and they were very helpful. I have delt with them since 2003 and have always had such good advice. Amy also helped me and she is great. She made me feel comfortable and helped me understand what might have been confusing to me. Thank you! - Sharon K.
We are grateful for the attorneys and staff at Rice & Rice. From our first appointment we knew they were the perfect fit for us. They have the knowledge and experience in elder law and estate planning to help us ensure that our wishes are fully documented and will be easily understood by our family. We now have peace of mind as we go forward in life. You do have a choice. Ours was Rice & Rice. - Lori F.
Cliff was excellent. Very informative and eye opening. Food was excellent. Service was excellent. Music was soothing. Crystal was very helpful. We look forward to meeting with him and the rest of his staff on Friday! - Pete B.
Superior in every single respect! In my life's work, attorneys were my clients. I can quickly state that Rice & Rice is the most comprehensive, efficient, and truly caring from top to bottom. The complicated areas are detailed to you, completely provided in an organized book, and you are left knowing all will be well and your contact with Rice and Rice is easily completed. They care for the most important decisions of your life for yourself and your family in the most top notch way possible. You will have complete peace of mind and complete trust when you work with this firm. My recommendation could not be stronger! - Anna B.
.2206291152532.png){kind=logo}
