• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Elder Law And Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Guardianships
    • Incapacity Planning
    • IRA & Retirement Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Workshops
  • Resources
    • DocuBank
    • Elder law Reports
    • Elder Law Resources
    • Estate Planning Articles
    • Estate Planning Checkup
    • Frequently asked questions
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
      • LGBTQ Estate Planning FAQs
      • Trust Administration & Probate Frequently Asked Questions
    • Newsletters
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
      • Trust Administration
    • Top 10 Estate Planning Techniques
  • Areas We Serve
    • Crown Point
    • Dyer
    • Munster
    • Schererville
  • Contact Us
  • BLOG

O’Drobinak & Nowaczyk, P.C.

Connect with us today(219) 865-2285

(765) 767-5225

Attend A Free Workshop
Home / Archives for Estate Planning

Use a Trust to Address These Estate Planning Situations

March 27, 2023Estate Planning

trusts

Trusts are misunderstood by many people that are new to the concept of estate planning. There are multiple types of trusts, and they are not exclusively for very wealthy people. In this post, we will look at three reasons why you may want to utilize a trust when you are planning your estate. Estate Planning for Second Marriages If you are getting remarried as a parent, you may have concerns about the inheritances that you want to leave to your children. This type of situation can be magnified … [Read more...] about Use a Trust to Address These Estate Planning Situations

What You Need to Know About SECURE Act 2.0

March 22, 2023Estate Planning, Legal Education, Retirement Planning

IRAs have become ubiquitous components of estate plans. The SECURE Act of 2019 altered the landscape for IRAs significantly. Just when advisors began to get comfortable with the new 10-year rule, the United States Treasury Department promulgated proposed Treasury Regulations early in 2022 adding additional complexity to that rule by requiring annual distributions for a non-Eligible Designated Beneficiary of a participant who died after their Required Beginning Date. Once again, the SECURE Act … [Read more...] about What You Need to Know About SECURE Act 2.0

Can You Use Lifetime Gift Giving to Avoid Estate Taxes?

March 20, 2023Estate Planning

estate tax

There are not many downsides to wealth accumulation, but there is an exception when it comes to estate planning matters. The federal estate tax can be a factor if the value of your estate exceeds the credit or exclusion, and it carries a hefty 40 percent top tax rate. 2023 Federal Estate Tax Exclusion In 2010, the estate tax was completely repealed because of a provision in the Bush era tax cuts, but it was scheduled to return in 2011. At the end of that year, the Tax Relief, Unemployment … [Read more...] about Can You Use Lifetime Gift Giving to Avoid Estate Taxes?

Estate Planning Tips for Blended Families

March 18, 2023Estate Planning

estate planning for blended families 2

There are different estate planning approaches that can be taken depending on the circumstances. If you make assumptions without seeking legal counsel, you could make mistakes that yield negative consequences. With this in mind, we will provide some tips about estate planning for parents that are getting remarried in this post. Don’t assume that leaving everything to your spouse in a simple will is the right choice. On the day that you are getting married, there will be a great deal of … [Read more...] about Estate Planning Tips for Blended Families

Holistic Estate Planning: Anticipate the Eventualities of Aging

March 16, 2023Estate Planning

intelligent estate planning

In part, our field is devoted to events that will take place after you pass away. At the same time, holistic estate planning should also address the eventualities of aging, and life as we age can be quite challenging. Cognitive Impairment A lot of people become incapacitated late in their lives, and Alzheimer’s disease or dementia are major culprits. It strikes about one third of the oldest old, and there are other causes of cognitive impairment. If you can no longer take care of your … [Read more...] about Holistic Estate Planning: Anticipate the Eventualities of Aging

Estate Planning Survey: Americans Are Woefully Unprepared

January 24, 2022Estate Planning

intestacy

While it is true that passing away is at the bottom of everyone’s to do list, it is an inevitability that we should all face head on. It is important to take the right steps to make sure that your legacy is passed along in accordance with your wishes after you are gone. Unfortunately, a very surprising majority of Americans have no estate planning documents at all. Eye Opening Survey Results A legal website engaged Harris Interactive to conduct an in-depth survey a while back that was intended … [Read more...] about Estate Planning Survey: Americans Are Woefully Unprepared

Dem Control Could Impact Taxes on Inheritances

January 21, 2021Estate Planning

estate tax8

Now that the Democratic party has taken control of the White House and both chambers of Congress, there may be new legislation passed that impacts the way inheritances are taxed. We will provide some insight in this post. Elimination of Stepped-Up Basis Let’s say that your rich uncle passes away, and he leaves you a thousand shares of stock. The stock is worth $100 a share, but he bought it years ago when it was valued at $10 a share. Your uncle paid $10,000 for the stock, and it grew in … [Read more...] about Dem Control Could Impact Taxes on Inheritances

What Are the Rules for Inherited IRAs?

January 10, 2021Estate Planning

IRA inheritance planning

There are many different facets to the estate planning process, and questions arise when you start to ponder the details. With this in mind, if you have an individual retirement account (IRA), you may wonder about the rules for the beneficiary or beneficiaries. We will provide some clarity in this post, and it is important right around now, because there have been some relatively recent changes that have altered the playing field. Traditional Individual Retirement Accounts The traditional … [Read more...] about What Are the Rules for Inherited IRAs?

Are Living Trust Payouts Taxed?

December 4, 2020Estate Planning

living trust

We are going to provide some information about taxes on living trust distributions in this post. But before we address this central question, we should provide some general information about the benefits that these trusts provide. Lump Sum Inheritance Concerns You may have concerns about leaving a direct, lump sum inheritance to someone that is on your list. Some folks have a proven history of poor money management, and there are young people that simply may not be prepared to handle a … [Read more...] about Are Living Trust Payouts Taxed?

Pandemic Illustrates the Importance of Advance Planning

November 24, 2020Estate Planning

advance directives for health care

Mortality is a subject that people generally try to avoid, and it may not seem very relevant to you when you are still young or relatively young. At the same time, people of all ages contract catastrophic illnesses every day, and there are thousands of accidents. Sometimes a highly publicized event will serve as an eye-opener, and the tragic Kobe Bryant  helicopter crash would fit into this category. The people that passed away were young and healthy, so it really demonstrated the way … [Read more...] about Pandemic Illustrates the Importance of Advance Planning

  • Go to page 1
  • Go to page 2
  • Go to Next Page »

Primary Sidebar

ARE YOU PREPARED FOR THE FUTURE?

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Linkedin

Where We Are

O’Drobinak & Nowaczyk, P.C.
1806 Robinhood Boulevard Suite A,
Schererville, IN 46375
Phone: (219) 865-2285
Fax: (219) 865-2362

See Larger MapGet directions

Schererville Office Map

Schererville IN estate planning attorneys

Where we are

Lafayette
123 N. 8th Street Suite 120
Lafayette, IN 47901
Phone: 765-767-5225

See Larger MapGet directions

Lafayette office Map

Schererville IN estate planning attorneys

Footer

  • Speaker Connection
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect to Us

  • Facebook
  • Twitter
  • YouTube
  • Linkedin
Schererville IN estate planning attorneys O'Drobinak & Nowaczyk footer logo

O’Drobinak & Nowaczyk P.C.
Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.