Developing an Estate Plan

A personal matter

The attorneys at Smith & Wade have over ninety years of collective experience working with a wide range of clients on issues involving simple wills, trusts, complex estate planning involving significant assets, and business succession planning.

We know that developing an estate plan is a personal matter. We are dedicated to providing estate planning services and administrative advice based on the specific needs of each client.

Most estate planning is about preserving wealth and passing on a legacy. We are committed to developing long-term relationships so that we can update our client's estate plans when and if the needs for changes arise.

Our attorneys provide legal advice and consultation services that give our clients a broad prospective of choices regarding their estate planning and administration options.

Sensitivity to Your Estate Planning Goals

While many of the decisions related to estate planning and estate administration are purely financial, we also recognize that estate planning can often be emotional.

In each instance, we are committed to developing estate plans that meet the goals and needs of our clients and their heirs as well as protect their current and long-term interests.

The attorneys at Smith & Wade have extensive experience handling a wide range of complex estate planning services including:

Simple and Complex Wills
Healthcare Powers of Attorney
Financial Powers of Attorney
Trusts: including revocable trusts, insurance trusts
Minimizing Federal Estate Taxes and other Tax Liabilities
Lifetime Gifting
Prepaid Wills & Trusts for Employees

Estate Planning & Administration Answers

Q. Will it be necessary to undergo "probate"?

A. If there is a surviving spouse, or if the decedent died with less than $50,000.00 of probate assets, it is generally not necessary to open a probate estate. However, even when a probate estate is necessary, there are streamlined procedures, and even benefits, to the probate process.

Q. How much will it cost to plan or handle my estate ?

A. The cost and time involved in planning or administering an estate depends on many factors, including the make up of beneficiaries, and the amount, mix and liquidity of the decedent’s assets. We bill on an hourly basis only for the work actually performed and needed, rather than a flat percentage of the size of the estate.

Q. How much will my beneficiaries owe in death taxes?

A Often times, little or nothing. A surviving spouse can generally qualify for the unlimited marital deduction, and death tax exemptions at the Federal level and for the state of Indiana are the highest they have ever been.

Q. What provisions should I make for my children in the event of mine and
my spouse's premature passing?

A Through age 18, a minor child's affairs are handled by a guardian. Careful consideration should be made with respect to guardian of the estate (finances) and guardian of the person (caretaking and raising) of minor children. Your preference as to who will be your minor child’s guardian can be stated in your will. After age 18, distribution of monies can be delayed by means of a simple trust.