Estate Planning Resources
Estate Planning Checkup For Indiana Families
Life changes, family needs, and financial decisions can all affect whether your current plan still fits. This checkup can help you spot common reasons families review their estate planning tools.
10 Questions That May Signal It Is Time For A Review
Use these questions as a practical guide. If one or more apply to your situation, it may be time to talk through whether your current plan still reflects your wishes, your family, and your next stage of life.
1 Do you have a Last Will And Testament in place?
A Last Will And Testament can name who receives property and who should serve as guardian for minor children. If you do not have one, Indiana law may determine the outcome, which can add stress and delays for your family.
2 If you have minor children, have you named guardians for their person and property?
Many families name one person to care for a child day to day and another to manage finances for the child. Putting your wishes in writing helps reduce uncertainty if something unexpected happens.
3 Would probate create stress or delay for your family?
Probate timelines vary and the process can feel overwhelming during grief. Many families review planning options that may reduce court involvement and make administration more efficient.
4 If you have a trust agreement, have assets been titled or aligned with it?
A trust agreement only works as intended when key assets are coordinated with it. This may include updating titles, beneficiary designations, or account ownership, based on your plan.
5 Have you named someone to help manage finances if you cannot act?
A durable power of attorney for finances can allow a trusted person to handle bills, accounts, and legal tasks if you cannot. This can reduce the need for court involvement in many situations.
6 Do you have health care planning tools on file?
Health care planning tools help communicate who can make medical decisions and what matters most to you. They can also include authorizations that allow providers to speak with the people you choose.
7 Have you reviewed beneficiary designations and account titles recently?
Beneficiary designations on retirement accounts and life insurance often control where those assets go. A review can help make sure they align with your overall plan and your current family situation.
8 Do you have a plan for personal property, family keepsakes, or pets?
Clear instructions can prevent disagreements and help loved ones honor your wishes. Many families include guidance for items with sentimental value, and care plans for pets.
9 Has there been a major life change since your tools were signed?
Marriage, divorce, births, deaths, retirement, relocation, and health changes can all affect planning decisions. A review helps confirm your tools still match your wishes and your current goals.
10 Have you had a significant change in assets or responsibilities?
A new home, business interest, inheritance, or caregiving responsibility may require updates. A review can help you confirm the plan still fits your real life situation.
Not Sure If Your Plan Still Fits?
O’Drobinak & Nowaczyk P.C. can help you review your goals and update your estate planning tools. Request a consultation to talk through what has changed and what may need attention.
This page is general information and is not legal advice. Reading this content does not create an attorney client relationship.