Acquiring assets is undoubtedly part of your overall estate plan; however, simply amassing assets without taking steps to protect those assets can cause the most well-drafted estate plan to fail. One way to protect assets is through the creation of an asset protection trust. With that in mind, the Indianapolis asset protection planning attorneys at Frank & Kraft explain asset protection trusts. Common Types of Asset Protection Trusts Domestic Asset Protection Trusts. As the name … [Read more...] about Asset Protection Trusts – What You Need to Know
Although you will undoubtedly continue to rely on a Will within your estate plan, as your family and your estate grow you will need to incorporate additional tools into your estate plan in order to achieve a widening circle of goals. Among the most common of those additional tools is a living trust. While there are a seemingly endless number of reasons why you might want to include a living trust in your estate plan, the Indianapolis trust attorneys at Frank & Kraft explain how a living … [Read more...] about How Can a Living Trust Help Me?
Having at least a basic estate plan in place is important for every adult. If you are the parent of a young child, however, the need for careful estate planning is heightened. Your minor child cannot manage his/her own inheritance. Consequently, you must choose someone to do so for your child. For most parents, this means choosing a Trustee for the trust they create. The Indianapolis estate planning attorneys at Frank & Kraft help you choose the right person to guard your child’s … [Read more...] about Choosing the Right Trustee to Manage Your Child’s Inheritance
Like most areas of the law, estate planning includes concepts and legal jargon with which the average person is unfamiliar. For example, the words “bequest” and “inheritance” are often used interchangeably when, in fact, they are not always synonymous. To help you understand both terms, the Indianapolis estate planning attorneys at Frank & Kraft explain the difference between an inheritance and a bequest. What Is an “Inheritance?” While it may sound like the answer to one of those … [Read more...] about Is an Inheritance and a Bequest the Same Thing?
If you own real property, and you want to keep that property out of probate after you are gone, creating the right type of co-ownership may be a viable option. While you will get probate avoidance benefits by creating a joint tenancy, there are other factors you should consider before using that strategy for your real property. An Indianapolis estate planning attorney at Frank & Kraft explains how the way you co-own real property in Indiana matters. Why Does It Matter How Real Property Is … [Read more...] about Does It Matter How I Co-Own Real Property in Indiana?
Given the increasing prevalence of the disease, most of us know someone who is suffering from Alzheimer’s or who is helping care for someone with the disease. Nationally, the month of November is known as Alzheimer’s Disease Awareness Month. Recognizing the need for heightened awareness of this disease, President Ronald Reagan made this designation in 1983. With that in mind, the Indianapolis elder law attorneys at Frank & Kraft offer some information on Alzheimer’s disease and ideas about … [Read more...] about November is Alzheimer’s Awareness Month
You would undoubtedly prefer to spare your loved ones from additional stress and worry following your own death. Unfortunately, there is no way to shield your loved ones from the emotional impact of your passing; however, you can spare them most of the stress and anxiety associated with planning and funding your funeral and burial by planning everything yourself within your estate plan. If you do decide to add a funeral planning component to your estate plan, you may consider a pre-paid funeral … [Read more...] about A Pre-Paid Funeral Plan Might Not Be a Wise Choice
One of the primary reasons for creating an estate plan is to avoid dying intestate (meaning without a Will or trust in place to distribute estate assets). What happens though, if a loved one who is on the verge of death makes a last-minute oral Will? Is that Will valid? An Indianapolis estate planning attorney at Frank & Kraft explains how Indiana treats an oral Will and whether you can challenge the validity of that Will. The Last-Minute Will Ideally, an estate plan should be … [Read more...] about Is an Oral Will Valid in Indiana?
Most people acknowledge that having an estate plan in place is important. Despite that acknowledgment, many Americans do not have an estate plan. One reason often given for this apparent contradiction is that the prospect of creating an estate plan can be an intimidating one. Everything from the overall goals you should include in a plan to the documents used in an estate plan are frequently unfamiliar. To help get you started with your estate plan, the Indianapolis estate planning attorneys at … [Read more...] about Estate Planning Steps
Making sure that assets are distributed as intended is the primary motivation for most people to create an estate plan. That same estate plan, however, can provide a variety of additional benefits to you and your family. One important benefit of creating a comprehensive estate plan is that it can dramatically decrease the likelihood of disputes, both while you are alive and after you are gone. To explain, the Indianapolis estate planning attorneys at Frank & Kraft help you understand how … [Read more...] about How Can Estate Planning Help Avoid Disputes?