If you are like most people in Indiana, the holiday season can feel very all-encompassing and even distract you from other important things you need to take care of. As December moves closer to the end of the year, however, your attention may well turn to the new year and what you want to do to get it started well. One of the activities you should put on your New Year's list is to review your estate plan.
Drafting a will to pass on your inheritance to your children is sometimes not a clear cut proposition. Some parents worry that their children will squander their inheritance on frivolous purchases, but at the same time they could never bear the thought of leaving their children with nothing. A simpler choice for Indiana parents with these concerns is to attach conditions for their children to receive the inheritance. According to Findlaw, you can make passing down assets in your will conditional, but there are caveats.
Writing a will might currently be the furthest thing from your mind. You might have confidence that your family in Lawrenceburg is closely knit enough to disperse your assets without there being any contention. Why, then, risk hurting someone's feelings by creating a will? The main reason is because of what will potentially happen if you die intestate.