When you create a Last Will and Testament, you do so in the hope that it will provide a roadmap for your loved ones to follow during the administration of your estate after you are gone. Ideally, your Will should make the handling of your assets easier and less stressful for your loved ones. The last thing you want to happen then is for someone to challenge the validity of your Will which will create stress for your loved ones instead of alleviating it. In an effort to prevent just such an … [Read more...]
About Paul A. Kraft, Estate Planning Attorney
Veterans Benefits and the Surviving Spouse
If you are the surviving spouse of a veteran, you have made the ultimate sacrifice for the United States and everyone living here. While there is nothing that can ever truly compensate you for that sacrifice, there may be some benefits to which you are entitled as a result of your status as a surviving spouse. To give you some idea that those are, an Indianapolis veterans benefits attorney at Frank & Kraft explains what veterans benefits you are entitled to as a surviving spouse. Are You a … [Read more...]
Using a Living Trust to Avoid Leaving a Lump Sum Inheritance
When you create your estate plan you will need to make a number of important decisions. Along with deciding who to gift assets to, you will also need to decide how to gift those assets. For example, an Indianapolis estate planning attorney at Frank & Kraft explains how a living trust can help you avoid passing down a lump sum inheritance. What’s Wrong with a Lump Sum Inheritance? Most people hope that the inheritance they leave behind for a loved one serves to help protect and provide for … [Read more...]
Who Decides If Someone Is Incapacitated?
You probably don’t like to think about it; however, the reality is that the possibility of becoming incapacitated at some point down the road does exist. Because it is a possibility, it should be addressed in your estate plan to ensure that your wishes are honored in the event you do become incapacitated. It also helps to how incapacity is defined and who decides that someone is incapacitated. To help you plan for the possibility, an Indianapolis incapacity planning attorney at Frank & Kraft … [Read more...]
If a Beneficiary Dies During Probate What Happens to the Inheritance?
Probate can be a complex and complicated process under the best of circumstances and when everything goes as planned. Things don’t always go as planned though. For example, a beneficiary could also pass away during the probate of an estate. An Indianapolis probate attorney at Frank & Kraft explains what happens if a beneficiary dies during the probate of an estate. What Happens During Probate? To understand the impact a beneficiary’s death might have on the probate of an estate, you must … [Read more...]
Is Your Power of Attorney Powerless? What to Do When a Third Party Won’t Honor an Agent’s Authority
A Power of Attorney is one of the most commonly used estate planning documents due in large part to how flexible it can be. Consequently, most people are familiar with what a Power of Attorney does and how to use one. When all goes as planned, a Power of attorney is extremely useful and easy to use; however, what happens when all doesn’t go as planned and your Power of Attorney appears to be powerless? The Carmel estate planning attorneys at Frank & Kraft explain what to do when a third … [Read more...]
Are There Different Types of Special Needs Trusts?
Estate planning is always important for parents of young children. That same planning takes on a heightened importance when you are the parent (or grandparent) of a child with special needs. In fact, without proper planning, your efforts to provide for your child could actually do more harm than good. One estate planning tool that is often used to provide for a beneficiary with special needs is a special needs trust. To help you better understand your options, an Indianapolis special … [Read more...]
How Much Might I Receive in Veterans Aid & Attendance Benefits?
If you are a veteran, or the surviving spouse of a veteran, you likely know about a number of benefits to which you are entitled as a result of your service and dedication to your country. One program you may not be aware of, however, is the Veterans Aid and Attendance (VA&A) program. The Indianapolis veteran benefits attorneys at Frank & Kraft explain how much you might be entitled to receive in VA&A benefits. What Is the Veterans Aid and Attendance Program? The Veteran’s Aid … [Read more...]
Will Millennials Ever See the Wealth of the Baby Boomer Generation?
The older population in the United States is already making history as the largest population of seniors ever recorded. A primary reason for the dramatic increase in the number of older Americans is the aging of the Baby Boomers. As they move into their retirement years, they are breaking records causing everyone to take notice. Not surprisingly, the largest senior population in history also has a historic amount of wealth. Traditionally, experts would expect that wealth to be passed down to … [Read more...]
The Danger in Do-It-Yourself Estate Planning
If you do not yet have an estate plan in place, you have probably had to listen to well-meaning friends and family members nagging you about getting started on one. They do mean well, and you do realize you need a plan, so why not just use a few “Do-It-Yourself” forms you find on the internet to get your plan started? Although that may sound like a perfect solution, the Indianapolis estate planning attorneys at Frank & Kraft explain the hidden dangers inherent in DIY estate planning. Why … [Read more...]
