Most people have a vague understanding of the importance of estate planning; however, there are also several myths and misconceptions surrounding the reason for having an estate plan in place. Specifically, people often have the wrong ideas about what happens after they are gone. To help make sure you do not fall victim to any of these mistaken ideas, the Indianapolis estate planning attorneys at Frank & Kraft discuss five things you might not know about what happens after your … [Read more...] about 5 Things You Might Not Know About What Happens After Your Death
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Estate Planning Lessons the Covid Pandemic Has Taught Us
For over a year and a half now the entire world has been grappling with the Covid-19 pandemic. We have lived through lockdowns, social distancing, and the race to create a vaccine. Many of us have also lost loved ones or watched them suffer. The Indianapolis estate planning attorneys at Frank & Kraft discuss how the Covid-19 pandemic has also taught us some important lessons about estate planning. What Should Be Part of Your Estate Plan during the Covid-19 Pandemic? A comprehensive … [Read more...] about Estate Planning Lessons the Covid Pandemic Has Taught Us
Can a Charity Be the Beneficiary of a Living Trust?
For many people, philanthropy is part of their everyday life. If you are someone who believes strongly in charitable gifting, you may wish to continue that charitable gifting in your estate plan. While you can make charitable gifts in your Will, that is often not the best way to do so. Instead, consider using a living trust. The Indianapolis trust attorneys at Frank & Kraft explain how to make a charity the beneficiary of your living trust. Gifting to Charity Using Your Last Will and … [Read more...] about Can a Charity Be the Beneficiary of a Living Trust?
What Is the Most Important Document in My Estate Plan?
For most people, a comprehensive estate plan includes numerous legal documents and various ancillary documents. Which of these is the most important estate planning document? For most people a Last Will and Testament provides the foundation on which their estate plan is built; however, a trust agreement may eventually be just as important. The Indianapolis estate planning attorneys at Frank & Kraft explain which document is the most important one in your estate plan. Your Last Will and … [Read more...] about What Is the Most Important Document in My Estate Plan?
3 Documents That Should Be in Your Estate Plan
For the average person, estate planning is an unfamiliar – and often intimidating -- concept. Although every estate plan is uniquely tailored to the needs and goals of the person creating the plan, there are some documents found in most plans. To help you familiarize yourself with these documents, the Indianapolis estate planning attorneys at Frank & Kraft discuss three documents that should be in your estate plan. Last Will and Testament. Typically, a Last Will and Testament serves … [Read more...] about 3 Documents That Should Be in Your Estate Plan
How to Guard Your Child’s Inheritance
From the moment you first learned you were going to be a parent you likely worried about protecting and providing for your child. That need to protect and provide is evident in your estate plan because you want to be sure your child is financially secure if something happens to you while he/she is still young. Simply leaving an inheritance behind for your child isn’t enough though. As the Indianapolis trust attorneys at Frank & Kraft explain, you must decide who you want to guard that … [Read more...] about How to Guard Your Child’s Inheritance
Is Trust Administration Expensive?
A living trust is among the most common additions to an estate plan. A living trust can be used to help with a variety of estate planning goals, including probate avoidance, incapacity planning, and asset protection. If you are considering a living trust for your estate plan, you may be concerned about the cost of administering that trust once it is active. To help you better plan your estate, an Indianapolis trust administration attorney at Frank & Kraft discusses trust administration … [Read more...] about Is Trust Administration Expensive?
Do I Need an Advance Directive?
While your estate plan should certainly plan for the eventual end of your life, a successful estate plan contemplates numerous situations and scenarios in addition to death that requires advance planning. Consequently, a comprehensive estate plan will include several estate planning tools in addition to a basic Last Will and Testament. Among the most popular of these additional tools is an advance directive. The Indianapolis estate planning attorneys at Frank & Kraft offer several reasons to … [Read more...] about Do I Need an Advance Directive?
Do I Need a Pour-Over Will If I Am Using a Family Wealth Trust?
Like many people, you may choose to establish a Family Wealth Trust to use as your primary method of distributing your estate. One mistake you do not want to make, however, is eliminating a Will completely from your overall estate plan. The Indianapolis trust attorneys at Frank & Kraft explain why you should include a Pour-Over Will in your estate plan even if your plan relies on a Family Wealth Trust to distribute the bulk of your estate. Your Last Will and Testament A Last Will and … [Read more...] about Do I Need a Pour-Over Will If I Am Using a Family Wealth Trust?
Why It Is Important to Update Your Beneficiary Designations
If you have an estate plan in place already, you are ahead of over half the population in the United States. Taking the time to create that plan, however, is only the first step toward protecting everyone and everything that is important to you. You must also update your plan for it to be successful and work as intended. For example, the Indianapolis estate planning attorneys at Frank & Kraft explain the importance of updating your beneficiary designations. Where Are the Beneficiaries in … [Read more...] about Why It Is Important to Update Your Beneficiary Designations
