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A trust can be created in a will to take effect after death or it can be formulated and structured while grantor is alive. The use of trust funds is something that is usually associated with the rich and affluent. Yet, a trust can be a resourceful and efficient way for anyone to control and administer their assets. A trust can be structured to hold any kind of assets including, income, property, and/or valuables of any type. The grantor, settlor or donor is the individual who constructs or donates to the trust. The beneficiary or equitable owner of the trust is the person, persons, or entity for which the trust was created. The trustee is the person or entity that will manage and administer the trust. A trust can be structured to distribute proceeds or assets to the beneficiary as soon as the trust is created, in the future, after the settlor’s death, payments at set intervals, or when certain stipulations are met. The assets or funds in a trust can be structured independently to provide for a diverse disbursement of resources.

Do you or someone you know need the assistance of accomplished Indiana Wills and Trust Attorneys? Contact the Indiana Wills and Trust Attorneys at the law office of Tony Zirkle with your estate or testament questions.

When a person dies in Indiana, their estate is transferred to probate court for legal resolution. If the person created a will, they died testate. Testate cases will name someone to be appointed executor of the estate in the will. The executor will carry out the last wishes of the departed and administrate the estate. If the deceased failed to appoint an executor in the will or the appointed executor is indisposed, the court will appoint an administrator to the estate. If the deceased did not create a will, they died intestate. In this case, the court will appoint an administrator to the estate. The administrator is responsible before the court for providing proof of death and the authenticity of the will. The administrator must provide the court with a list of all the beneficiaries named in the will and a list of all the assets and debts corresponding to the estate. The beneficiaries and any creditors must then be notified of the death. The estate is considered in probate when all these stipulations are accomplished. The executor is responsible for the administration and operation of the estate while it is in probate. Probate can be resolved in a few months or it can linger for over a year, depending on the complexities or challenges.

The Indiana Wills and Trust Attorneys at the law office of Tony Zirkle can help you with:

Last Will and Testament

Trusts

Estate Planning

Living Will

Probate

Asset Disbursement

Do you or someone you know need the assistance of accomplished Indiana Wills and Trust Attorneys? Contact the Indiana Wills and Trust Attorneys at the law office of Tony Zirkle with your estate or testament questions.

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317.572.7717 Bloomington
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