Introduction
1. Legal Documents Used in Estate Planning
- Wills: A fundamental document for asset distribution and guardianship appointment.
- Trusts: Useful for managing and protecting assets for beneficiaries.
- Powers of Attorney: Authorize someone to handle legal or financial matters on your behalf.
- Healthcare Directives: Specify your medical care preferences if incapacitated.
- Indiana-Specific Documents: Ensure compliance with state laws, such as transfer-on-death deeds for property.
2. Remote Online Notarization (RON)
Indiana allows Remote Online Notarization (RON), simplifying the notarization process for estate planning documents. Key requirements include:
- Use of a state-authorized RON platform.
- Notarization conducted via secure video conferencing.
- Digital records securely stored for future reference.
3. Guardianship Assignment
Indiana law allows you to assign guardianship for minor children or incapacitated adults within your estate plan. The process includes:
- Naming a guardian in your will or legal documents.
- Court approval to ensure the guardian is suitable.
- Considering a backup guardian for added security.
4. Inheritance for Foreigners
Non-residents and foreigners can inherit assets in Indiana. However, certain considerations apply:
- Federal estate taxes may apply to non-citizens.
- Tax treaties with other countries may influence inheritance rules.
- Consult a tax attorney for cross-border estate planning.
5. Probate Rules and Costs
Probate in Indiana involves validating a will and managing asset distribution. Key details:
- Probate duration: 6-12 months on average.
- Costs: Court fees, attorney fees, and other expenses average 4-8% of the estate value.
- Simplified processes may apply to small estates.
6. Legal and Professional Costs
- Attorney Fees: Drafting wills and trusts costs between $1,500-$5,000, depending on complexity.
- Notary Services: In-person notarizations cost $5-$15 per document, while RON averages $25-$50.
7. Unique State Laws
Indiana has unique laws that affect estate planning:
- Transfer-on-death deeds allow property transfer without probate.
- Inheritance tax was repealed in 2013, simplifying asset distribution.
8. Introduction to Ethical Wills
Ethical wills provide a way to share values and life lessons alongside material assets. With the Wills App, you can:
- Record personal video messages.
- Share family traditions and advice.
- Preserve memories for future generations.
9. The Wills App for Estate Planning Automation
The Wills App simplifies estate planning with features like:
- Vault Storage: Securely store essential documents.
- Automated Distribution: Ensure assets are transferred as intended.
- Wellness Checks: Regularly confirm your status to prevent premature execution.
- Cross-Border Functionality: Manage estate plans across states and countries.
- Long-Term Peace of Mind: Honor your wishes for decades.
10. Practical Storage Advice
Securely storing estate planning documents is critical:
- Use fireproof and waterproof safes for physical copies.
- Share access codes with a trusted individual.
- Leverage the Wills App for digital backups and automated execution.
11. Call to Action
Take control of your estate planning today. Download the Wills App from Wills.com for a secure, automated, and comprehensive estate management solution.
