JAMES H. Hernandez
Attorney at law, lLc
Fax (317) 886-3950
567 North Emerson Avenue
Greenwood, Indiana 46143
Phone: (317) 886-7103
Monday - Friday
8am To 5pm
Additional Times Available
By Appointment Only
Your Life. Your Legacy.
Wills & Trusts
No individual's estate is ever too small to plan for the future. Every one should have a Will. Simply to avoid arguments in the future, a simple will can direct how an individual's assets are to be distributed. That way you, as the client, have the ability to determine how best to distribute your assets. This tends to give our clients peace of mind, knowing that what they have worked hard for all their lives will be distributed as they choose, not how the government deems best.
Don't be afraid of Probate. This would be the first thing I tell my clients who may be concerned about a decedent's estate. Any individual with individually titled assets over $50,000 without beneficiary designations, jointly held property, or Pay Upon Death or Pay At Death designations will need to have a simple probate estate opened in the county of residence. A three month claim period will be administered and then, based on the conditions of the decedent's estate plan, distributions can be made and the estate closed.
Copyright (C) 2013 James H. Hernandez LLC
We encourage our clients to review their estate planning (Wills and Trusts) typically every five years unless major changes in the law take effect. We maintain our data base and if any major changes affect your estate plan, we will notify you of the same. This is a continuation of our services to you as our valued clients.
Estate planning -- Wills and Trusts -- should be seen as a continual process, evolving over time. Life has a way of bringing changes into our daily routines and we must keep abreast of those changes through the legal system also.
Administering an estate in the State of Indiana has become rather routine and due to the No Indiana Inheritance Tax Law, has become rather simplified.
A Personal Representative (under the watchful eye of his/her attorney) need only place the Will with the court through court drafted pleadings by his/her attorney, collect the assets, pay any last individual income taxes, wait the allotted time limits and then make distribution based on the Decedent's Will conditions or the Indiana Statute if no will was probated.
Only in the case of assets well over $5,000,000 would a tax return become necessary by the Federal Government.
If you have any questions with regard to whether or not you need to open an estate due to having lost a family member or friend, please feel free to give my office a call. We can ask you several questions and will help you determine if a formal estate needs to be opened or if the assets left behind can be transferred with simple attorney drafted affidavits.
Trusts add a level of privacy to a client's estate plan. Although Trusts are typically used for clients with over $500,000, based on the circumstances, Trusts can be drafted for other clients. Trusts add a level of privacy as they are not put on record with the Court. They do require a "Pour-Over Will."