If you are contemplating the creation of a living trust, you will need to decide if your trust will be a revocable living trust or an irrevocable living trust. As the name implies, an irrevocable living trust is one that cannot be modified or revoked by the Settlor once the trust is established. Why you would want to make your trust irrevocable though? The Indianapolis trust lawyers at Frank & Kraft explain when making your trust irrevocable is a wise choice. When Is an Irrevocable Living … [Read more...] about Why Would I Make a Trust Irrevocable?
The death of a spouse is often marked by heightened emotions as you grieve your loss. If you learn that your spouse left you out of his/her Will, it can be even more difficult to manage those heightened emotions because you may also be concerned about your financial situation. That may lead you to wonder if you can challenge your spouse’s Will. The Indianapolis probate lawyers at Frank & Kraft discuss contesting your spouse’s Will in Indiana. Probate Basics When an individual passes … [Read more...] about Can I Contest My Spouse’s Will?
Just because you have never before needed to qualify for Medicaid does not mean you won’t need to in the future. In fact, there is an exceptionally good chance you will need to rely on Medicaid at some point. If you do find yourself applying for Medicaid without having prepared in advance, your assets could be at risk. To prevent that from happening, the Indianapolis Medicaid planning lawyers at Frank & Kraft explain five things you need to know before applying for Medicaid. Why Would I … [Read more...] about 5 Things You Need to Know before Applying for Medicaid
If you recently lost your mother, you are undoubtedly going through a period of grief and other heightened emotions. If your mother appointed you to be the Executor of the estate, however, you must also concentrate on the practical and legal steps required following a death. Probating an estate can be a complex and emotionally exhausting process though. The Indianapolis probate lawyers at Frank & Kraft explain why you should have a lawyer help you with the probate of your mother’s … [Read more...] about Why Should I Have a Lawyer Help Me Probate My Mother’s Estate?
Members of the LGBT community and their supporters have finally achieved some tangible results in their battle for equality in recent years. Does that mean that the heightened need for estate planning is no longer applicable to members of the LGBT community? Not necessarily. While the recent victories are cause for rejoicing, estate planning remains important for members of the LGBT community according to the Indianapolis estate planning attorneys at Frank & Kraft. Recent LGBT … [Read more...] about LGBT Estate Planning Remains Necessary
Collectively, the documents that make up your comprehensive estate plan will likely be among the most important documents you ever create during your lifetime. Given how important they are, once they are prepared and ready to be utilized when necessary, what should you do with them? The Indianapolis estate planning attorneys at Frank & Kraft explain where you should keep your estate planning documents after creating them. Common Estate Planning Documents Your estate plan is as unique … [Read more...] about Where Should I Keep My Estate Planning Documents?
Working hard, saving regularly, and investing wisely will certainly ensure that you amass a moderate to large estate; however, if you fail to protect the assets that make up your estate your beneficiaries will ultimately lose out in the end. One of the most potentially devastating threats to your estate assets is the federal gift and estate tax. Careful planning can help you decrease, or even eliminate, your estate’s exposure to federal gift and estate taxes. The Indianapolis estate planning … [Read more...] about What Can I Do to Reduce Estate Taxes?
The primary focus of your estate plan may be the distribution of your estate assets when you are gone; however, a comprehensive estate plan will accomplish much more than just creating a roadmap for the division of your estate upon your death. Exactly which additional components you decide to include in your estate plan will be a personal decision based on your unique needs and goals. One additional component that should be found in every estate plan, however, is incapacity planning. The … [Read more...] about How Can I Plan for Incapacity?
If you have never before needed to rely on Medicaid to cover your health care expenses, why would you need to include Medicaid planning in your estate plan? Unfortunately, the reality is that many seniors do eventually need to qualify for Medicaid at some point to help cover the high cost of long-term care. If you failed to plan ahead and suddenly find yourself in a position where you need to be eligible for Medicaid, is there anything you can do? The Indianapolis Medicaid planning attorneys at … [Read more...] about Can Last-Minute Medicaid Planning Help Me?
For some people, philanthropy is part of their everyday life. If you are one of those people, you may also wish to continue your charitable gifting after you are gone. With that in mind, an Indianapolis estate planning attorney at Frank & Kraft explains how you can incorporate charitable gifting into your estate plan. Passing Down Your Legacy through Charitable Gifts If philanthropy is part of your deeply held belief system, why not make it part of the legacy you hand down to your … [Read more...] about Including Charitable Gifts in Your Estate Plan