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Frequently Asked Questions by our clients in Indiana

 


Q:

Why shouldn’t I simply leave everything to my spouse and then upon my spouse’s death to be divided among my children?

A:

There are several potential problems to that estate plan. First, it may subject the estate to significantly more estate taxes. Secondly, it provides no guidance to the children concerning your ultimate wishes, and may therefore lead to unnecessary animosity between the children. Thirdly, it does not take advantage of many of the tools that are available to shield these assets from creditors, taxes, etc. In summary, it is better than nothing, but is a relatively unsophisticated method of estate planning.


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