(765) 470-7090 polly@dobbslegal.com

Down on the Family Farm: Navigating the Unique Succession Planning Needs of Farm Families

Live Webinar Held on April 16, 2014 This webinar is designed for attorneys, estate planners, accountants, presidents, vice presidents, directors, financial planners, trust administrators, finance directors, business owners and managers. Presented by: Polly J. Dobbs, Attorney Polly is a farm girl and estate planning attorney with a passion for helping farm families efficiently transfer ownership of their land, buildings and equipment to the next generation. In this webinar, she will give an overview of business succession planning, discuss the restrictions on transfers of farm ownership, identify hot topics in farm succession plan, explain tax considerations, provide tips on avoiding common succession planning mistakes made by farm families, and discuss the most tax efficient ways to pass the farm onto the next generation. For a list of continuing education credits, additional information and to register go here....

Estate Planning Oddities and Challenges Seminar

March 24, 2014 9:30 am – 4:30 pm Location: Capital Conference Center 201 North Illinois Street, Suite 200 Indianapolis, IN 46204 This is a basic to intermediate level seminar. It is designed for attorneys, estate and financial planners, trust officers, accounting and tax professionals, and paralegals. Course Contents: 1. Elder Law vs. Estate: Learn how the same techniques are applied differently 2. Estate Planning for Single Parents 3. Gun Trusts: Learn how they are used and review a sample 4. Planning for Same Sex Couples: Assist gay couples with the new laws for retirement and estate planning 5. Stretch IRA Trusts: Make use of the “stretch” feature of IRAs in estate plans 6. Down on the Family Farm: Explore business succession techniques that match farmers’ estate plans Continuing Education Credit: Continuing Legal Education – CLE: 6.00 National Association of State Boards of Accountancy – CPE for Accountants: 7.00 Financial Planners: 7.00 International Association for Continuing Education Training – IACET: 0.60 Institute of Certified Bankers – ICB: 7.50 For more information go...

“Stuff” More Important than Money in Estate Asset Divisions

Studies show that when it comes to the division of assets after death, surviving family members are more likely to fight about personal keepsakes than about money. I always tell my clients, it’s not your millions of dollars’ worth of farm ground, your cash in the bank or the stock in your portfolios that your kids will fight over when you’re gone. It’s the stuff—the jewelry, china, silver, crystal, tools, guns, vehicles, photos and artwork. According to a 2012 survey conducted for Allianz Life Insurance 64 percent of boomers and 58 percent of elders say family mementos and heirlooms are a key inheritance. Only 9 percent of boomers expressed eagerness to inherit money, and 14 percent of elders believe financial assets are an important legacy. Family mementos are among the most common causes of conflict after a relative dies. Money can be divided relatively evenly. But who gets Mom’s favorite coffee mug which has a $2 value but priceless sentiment?   Here are five steps you can take to avoid messy family inheritance squabbles.   1. Start discussions now. When you are ready to develop your estate plan, talk to your family members about specific keepsakes. If you have aging parents, consider asking them what items they would like to give to whom. Different financial standings of your children and other heirs intensify the need for you to proactively discuss and make decisions together about the division of your assets. Also, take time to tell—and record—family stories, including the identities of people featured in family photos.   2. Make a list. Make sure your financial wishes are carried out...