Category: Estate Planning

Spring Clean Your Estate Plan

  Spring clean your estate plan.  Review your estate plan as part of your spring cleaning. Ensure that it is up-to-date to meet your needs and goals. You should review your estate plan team, beneficiaries, and team instructions. Here is a form for the Estate Plan Team Instruction Manual.   Information and articles from our […]

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Legislature Fixes Document Recording Nightmare

The Indiana General Assembly has fixed the Indiana statute on recording documents.  Last summer, we reported on an unintended change to the Indiana recording statute that was causing major headaches for individuals trying to record instruments.  Senate Enrolled Act No. 340 amended Indiana Code 32-21-2-3 so that as of July 1, 2020, any document to […]

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Getting Comfortable With Estate Planning Terminology

Some people feel uncomfortable meeting with an attorney to discuss their estate planning needs because of an unfamiliarity with the law. A good lawyer will discuss your available options in simple terms that a person with no legal training can comprehend. You can also relieve some of that hesitancy by familiarizing yourself with legal terminology […]

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Annual Long-Term Care Survey Finds Steep Rise in Assisted Living Facility Costs Amid Pandemic

All long-term care costs rose sharply in 2020, but assisted living facility costs increased the most, according to Genworth’s latest annual Cost of Care Survey. The across-the-board rises were due in part to increased costs brought on by the coronavirus pandemic. In the past year, assisted living facility rates grew 6.15 percent for a median […]

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Special Tax Deduction for 2020 Allows Donations of $300 to Charity Without Itemizing

  As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people a deduction of up to $300 in donations to a qualifying charity this year without itemizing deductions. Since the increase in the standard income tax deduction in 2018, only 11 percent […]

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How to Fix a Required Minimum Distribution Mistake

You can fix a required minimum distribution mistake from a retirement account.  The rules around required minimum distributions fare confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the error and possibly avoid a stiff penalty. If you have a tax-deferred retirement […]

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