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Choose your representative carefully, otherwise this could lead to problems – United Hebrew Congregation Terre Haute Judaism

Scott is an Indiana lawyer in his 33rd year in business. He is a member of the United Hebrew Congregation and the proud father of two children. Scott reminds us that his columns are for informational purposes only and should not be considered “legal advice”. He believes everyone should feel comfortable asking questions to their lawyers. “There are no bad questions – only vague answers.”

This part continues my series of planning for ultimate desires and the factors people often consider when making such plans.

Powers of attorney and health guidelines / wills were dealt with in previous columns. Both tools help to fulfill your own wishes while you are alive and healthy or maybe incapable.

I am now concentrating on planning how to implement my intentions after death.
Today we’re going to look at wills in Indiana and what they’re supposed to accomplish.

What is a “will” and what does it do?

A will is a declaration made by a person before death to assist an executor in disposing of his or her assets.

The will contains instructions for a person to fulfill a deceased person’s last wishes.

In Indiana, a will can exist in a form as simple as a handwritten note on a napkin. However, we do not recommend such a document.

In Indiana, a will can exist in a form as simple as a handwritten note on a napkin.

We do not recommend such a document as it would lead to problems of proof and would likely lead to a lengthy legal process.

Typically, a person hires a lawyer to produce a document that is clearly marked as a will and that meets the legal requirements for self-examination.

People usually use wills when they own property that they want to transfer to certain people in a certain way.

Legacies control the transfer of ownership

The most obvious example would be a “legacy”.

A legacy is an instruction to transfer a gift or certain item of personal property to a specific person.

This item can be jewelry, cutlery, pictures, cash, or anything you want to be sure of being given to a specific person.

Legacies can avoid disputes about who receives a family heirloom.

Legacies help survivors’ struggles to avoid valuable or valuable items. Because these items often have a value that goes beyond mere cash value, legacies can avoid disputes about who receives a family heirloom.

Wills can keep records of a person’s intentions and assist a court in deciding how to pay out assets and guardianship.

A court is the final decision maker, but follows a person’s intentions insofar as it can determine the person’s intentions. We therefore recommend a clearly written instrument!

Update a will to accommodate changing circumstances

Life changes occur over time, and a person should review their will to accommodate these changes. Sometimes tax laws can change, and occasionally the estate laws will change slightly.

For example, does the person have a spouse? Are minor children involved? Who will collect the assets and execute the person’s intentions with judicial approval?

An experienced real estate lawyer knows what questions a will has to answer and offers suggestions to accomplish this task.

Are there any charitable gifts? Could there be tax consequences? Is the expected property large or small?

You have to answer these questions while making or examining a will, and I highly recommend a qualified attorney to help with it.

An experienced real estate lawyer knows what questions a will has to answer and offers suggestions to accomplish this task.

Although the process of creating a will is not complicated or time-consuming, it can take some time to prepare for the will. Preparing in advance can save a lot of time and money.

Choose a good personal representative

Choosing a person or team as a “personal representative” is a crucial start.

The personal representative is charged with fulfilling the deceased’s intentions and can do so with great discretion. It is best to choose a very trustworthy person for the role, and that person should understand their role early in executing the will.

In order to avoid conflicts between interested parties, some people select representatives.

The appointment becomes official only after the will’s death, and the personal representative can also decline the role in this critical phase. For this reason, I urge the consent of the person chosen as the personal representative.

Choose a personal representative wisely. In order to avoid conflicts between interested parties, some people select representatives. However, this can lead to paralysis if the representatives do not agree or do not work well together.

Next: Disassemble parts of a will.

Previous columns in this row

Part 1: Let’s discuss simple steps for planning estate management

Part 2: What is power of attorney and when do we need it?

Part 3: The medical authorization is OK, but do this with your doctor

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