Estate Planning Law Firm Columbus, Seymour, Nashville, Franklin and Greensburg, Indiana
Very few things in life are certain. Death, however, is a certainty for every individual. No matter an individual’s age, marital status or financial condition, every individual should make plans for transfer of their assets upon death. Since no one knows when they will die, an individual should not delay having discussions regarding and preparing their estate planning documents.
Thomasson, Thomasson, Long & Guthrie, P.C. works with and listens to clients and prepares estate planning documents to carry out the clients wishes. Examples of documents and services which Thomasson, Thomasson, Long & Guthrie, P.C. may provide to clients are:
Who can make a will?
A person must be at least 18 years of age and be of sound mind to execute a Will.
How is a will signed properly?
In Indiana a will must be signed in front of two witnesses and the testator declares that he signed it and requests that the witnesses witness his or her signature and the witnesses sign in his presence and in the presence of each other.
Many wills also contain Self-Proving Affidavits which allow for easier probate.
What property passes by will?
All your property will pass by your Will except property which is to vest in others by other instruments. Examples are:
- Real estate that is owned by joint tenants passes to the survivor with or without a Will and
- Life insurance proceeds go to the named beneficiary.
- Pension Benefits with a named beneficiary
- Jointly owned bank accounts
What do I need to know to complete a will?
- Names of the persons you desire to inherit part or all of your estate.
- Trustee of the trust contained in your Will if your children are minor children.
- Guardian of minor children in case both parents are deceased.
- Executor or personal representative to administer your estate.
- Generally how you desire your estate to be administered and who is to receive same.
- Testator – a person who dies leaving a will. Female=Testatrix
- Executor/Personal Representative – a person named by a testator to execute or carry out the instructions in a will.
- Trustee – responsible for overseeing trust assets on behalf of a beneficiary.
- Heir – one who inherits or is entitled to succeed to the possession of property after the death of its owner: as one who by operation of law inherits the property and esp. the real property of a person who dies without leaving a valid will (called also heir at law, heir general, legal heir)
- Issue – one or more lineal descendants. Example: died without living issue. Children.
- Devise – to give (property) by will. Specifically: to give (real property) by will.
- Bequeath – to give personal property by will
- Beneficiary – a person or entity (as a charity or estate) that receives a benefit from something: as the person or entity named or otherwise entitled to receive the principal or income or both from a trust.
- Probate – to establish (a will) as valid through probate.
- Maker – Person who makes a will.
With offices conveniently located in Columbus, Indiana, Thomasson, Thomasson, Long & Guthrie, P.C. serves clients throughout South Central Indiana, especially Bartholomew County, Jackson County, Jennings County and Decatur County, including the towns of Columbus, Seymour, North Vernon, Nashville, Franklin, Brownstown, Greensburg, Morgantown and Martinsville.
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