While one good goal of estate planning is avoiding probate, when it comes to avoiding taxes or debts, probate avoidance just doesn’t “do the trick”. That’s because in Indiana, just as in every other state, creditor’s rights come first, whether that creditor is a...
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Dividing Retirement Fund Money During a Divorce
Dividing retirement fund assets during a divorce is all about who's going to be paying the taxes. “Whether you are giving up funds or receiving them, you need to understand the rules that govern asset division in a divorce,” Mark Cussen cautions in Investopedia. There...
Heir or Beneficiary – What’s the Dif?
You might say estates involve heirs, while estate planning involves beneficiaries. Is there a difference? Yes, and it’s an important one. An heir is a relative or other person who is legally entitled to an inheritance if there is no document specifying otherwise. A...
Think Twice Before Starting Over from Estate Planning Scratch
No, the estate tax isn’t dead, Fidelity reminds investors in “Tax Reform and Estate Planning”, even if it is in a coma until the end of 2025. True, 2018’s tax reform had far-reaching implications, including an increase in the federal estate tax exclusion to $11.4...
Beyond the 529 – Smart College Planning for Children and Grandchildren`
Grandparents who wish to help fund grandchildren’s tuition costs have options in addition to 529 plans.
Smart College Planning for Children and Grandchildren
Many grandparents are interested in helping their grandchildren pay for college. But what are the most efficient ways to go about that project?
Make Sure you’re Still Sure About Those Beneficiary Designations
Singer Barry White and actor Heath Ledger were both highly talented performers, yet both made the same big mistake when it came to their estate planning, Kaitlin Pitzker explains in a Kiplinger Magazine article – they didn’t update their beneficiary designations. When...
Veterans Burn Pit Bill Introduced
A very important part of our law practice at Rebecca W. Geyer & Associates is providing assistance to veterans and their surviving spouses, helping them obtain VA benefits. As the 2019 winter holidays approach, we are gratified to learn about a bill recently...
The Holiday Season – a Time to Enable a Better Life Experience
Five years ago this month, the ABLE Act (the Stephen Beck, Jr. Achieving a Better Life Experience Act was signed into Federal Law, with Indiana’s ABLE Act going into effect a year later. The concept – individuals with disabilities may establish ABLE accounts, allowing...
“Cottages” Have Benefits and Consequences in Estate Planning
Remember when it was all the rage for families to own lakeside “cottages”? Not only were those the site for big annual get-togethers and reunions, different members of the family would take turns using the cottage for their own vacation getaways. Ownership might pass...