Working with an experienced estate planning attorney is the best way to ensure that your estate plan accomplishes all your goals and that it works as intended. Your attorney will provide you with advice and guidance during the creation of your estate plan; however, there are also things you can do to help your estate planning attorney to increase the overall success of your plan. Toward that end, a Carmel estate planning attorney at Frank & Kraft explains what you can do to help your estate … [Read more...] about What Can I Do to Help My Estate Planning Attorney?
Unfortunately, the odds are favorable that you, or someone close to you, will be diagnosed with Alzheimer’s disease at some point during your lifetime. Accepting, and adjusting to, the diagnosis takes time. Even knowing it is likely, you cannot prepare for the psychological impact of an Alzheimer’s diagnosis. There are, however, some steps you can take following the diagnosis that will help everyone involved to manage the reality of life with Alzheimer’s. With that in mind, the experienced … [Read more...] about 5 Important Steps to Take after an Alzheimer’s Diagnosis
If you recently learned that you were appointed to be the Trustee of a trust, and this is the first time you have served as a Trustee, you probably have several questions. At the top of that list may be concerns over the possibility of being held personally liable if you make a mistake. To help you better understand your role as Trustee, the Indianapolis trust administration attorneys at Frank & Kraft explain personal liability for a Trustee during trust administration. What Does the Job … [Read more...] about Can I Be Held Personally Liable for Mistakes I Make Administering a Trust?
Funeral planning may not be the first thing you think about when you contemplate your estate plan; however, it is something that you should consider including. If you do decide to incorporate a funeral planning component in your estate plan you may choose to create a special type of trust known as an Irrevocable Life Insurance Trust, or ILIT. The Indianapolis estate planning attorneys at Frank & Kraft explain how an Irrevocable Life Insurance Trust works and why you might want to include one … [Read more...] about What Is an Irrevocable Life Insurance Trust?
If you prefer not to think about your own funeral and burial, you are hardly alone. Most people don’t want to dwell on the reality of their own mortality. You should, however, know enough about the practical expenses involved in a funeral and burial to recognize the wisdom of including a funeral planning component in your comprehensive estate plan. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain that dying is expensive and how funeral planning can … [Read more...] about Dying Is Expensive – How Funeral Planning Can Help
Life insurance is often an integral part of both financial planning and estate planning. This is particularly true when you are young and just getting started in life. At that time, life insurance can provide the financial security you have yet to establish through working, saving, and investing. Later in life, however, life insurance may still play an important role in your estate plan by funding or contributing assets to a trust. The Indianapolis trust attorneys at Frank & Kraft explain … [Read more...] about Can the Proceeds of a Life Insurance Policy Be Paid to a Trust?
If you have an estate plan in place, you already recognize the numerous benefits an estate plan offers. Once your plan is in place, however, you may struggle with deciding how much (if any) of the details of that plan to share with beneficiaries and heirs of your estate. Ultimately, it is a very personal decision; however, the Indianapolis estate planning attorneys at Frank & Kraft discuss the advantages and disadvantages of discussing your estate plan with your family. Advantages of … [Read more...] about Should I Discuss My Estate Plan with My Family?
Creating a comprehensive estate plan is the first step toward protecting everyone and everything that is important to you; however, you also need to update your plan from time to time for it to be successful and work as intended. One thing people often forget is to review and revise are the beneficiary designations within their estate plan. To keep you from making that mistake, the Indianapolis estate planning attorneys at Frank & Kraft explain why updating beneficiaries is crucial to your … [Read more...] about Why Is Updating Beneficiaries Crucial to Your Estate Plan?
If you are the parent of a child with special needs, you know that there are practical and financial challenges you must face raising a child with special needs. The need to have a comprehensive estate plan in place is heightened when you are concerned with protecting and providing for a child with special needs. As part of your estate plan, you may choose to include a special needs trust to ensure that your child is financially secure both now and in the future. An Indianapolis special needs … [Read more...] about What Is a Memorandum of Intent for a Special Needs Trust?
As the beneficiary of a trust, you are entitled to benefit from the assets held by the trust. You must depend on the Trustee of the trust to protect and grow those assets. What happens if the Trustee is not doing his/her job properly? Can you do anything about a problematic Trustee? The Indianapolis trust administration attorneys at Frank & Kraft explain what a beneficiary can do about a problematic Trustee. Problems with a Trustee Sufficient consideration is not always given when … [Read more...] about What Can a Beneficiary Do about a Problematic Trustee?