Indiana Will and Trust Attorney
A will is a legal document that states how you would like your property and money to be divided when you pass away. You may choose to leave specific items, such as vehicles, homes, and bank accounts to certain people, including your spouse, children, friends, and other family members. Along with distributing money and property, you may also name a person in your will to become the guardian of your child or children if they are minors at the time of your passing.
A Trust is a legal arrangement made between a Settlor, (a person who owns property or a large sum of money) and a Trustee (person or bank) who is responsible for the Settlor's belongings. It is the job of the Trustee to manage or invest the money and/or property in the way that is outlined in the trust agreement for the benefit of the beneficiaries of the trust.
In addition, the attorneys at the Law Offices of Gerald L. Cowan protect the rights of heirs omitted from a will or trust. We actively practice in all areas of inheritance and death tax disputes. Our will and trust attorneys represent individuals who contest wills or trusts on the basis of unsoundness of mind, undue influence, duress or fraud, improper execution and any other factor set forth in the state statutes of the decedent's residence. If you have reason to believe that you have rights to an estate through a will or a trust, you need to call the Law Offices of Gerald L. Cowan.
In order to have the legal ability to enter into a will, the law requires the person to have testamentary capacity. Testamentary capacity requires a person to know the nature and extent of the property owned, those who would receive such property if there were no will and the ability to understand who is receiving the property when the will is signed.
In order to execute a trust, a person must have the ability to comprehend the nature and quality of the terms of the trust and to understand the significance and consequences of the trust. It is the same standard that is required to have the capacity to sign a binding contract, which are both higher standards than the testamentary capacity required to sign a valid will.
The contest of a will or a trust may be made when one or more of these standards are believed to be absent. Generally, the person who wishes to contest a will or trust must be either someone who would receive property if there were no will or someone who was the beneficiary of a prior will or trust.
When one of the persons is omitted from the will, a contest may be brought in court if it is filed within a specific amount of time after the decedent has died or notice of death has been published, depending upon the state. In Indiana, a contest must be brought by or before three months after the will is filed with the court. There is no statute which sets forth the requirement for the filing of a trust contest in Indiana, but it is the general opinion of most practitioners that the same three months should be considered as the limit, to be safe.
