Estate planning can be an intimidating process for the average person. One reason for this is that estate planning includes concepts and legal jargon with which the average person is unfamiliar. For example, the words “beneficiaries” and “heirs” are often used interchangeably when, in fact, they are not the same thing. The Indianapolis estate planning attorneys at Frank & Kraft help you understand the relationship between your beneficiaries and heirs. Beneficiaries and Heirs It may … [Read more...] about Understanding Beneficiaries and Heirs
Beneficiaries
Why Is Updating Beneficiaries Crucial to Your Estate Plan?
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?
Do I Have Rights as the Beneficiary of a Trust?
If you are a beneficiary of a trust, you are dependent on the Trustee to administer the trust properly in accordance with the terms as set forth in the trust agreement. Most of the time, the beneficiaries of a trust receive their distributions as planned without any serious problems; however, it is possible for problems to occur during the administration of a trust. If you are a beneficiary of a trust, an Indianapolis estate planning attorney at Frank & Kraft explains your rights. Trust … [Read more...] about Do I Have Rights as the Beneficiary of a Trust?
What Kinds of Steps Should You Take After Receiving an Inheritance?
Carmel inheritance planning attorneys can provide you with personalized advice after you have received an inheritance. You will need to make certain that you understand your rights as one of the heirs or beneficiaries who inherits when someone passes on. An attorney can guide you through the process of receiving an inheritance and making smart decisions about what you should do to protect the money or property that your loved one has left to you. Frank & Kraft has extensive … [Read more...] about What Kinds of Steps Should You Take After Receiving an Inheritance?
Can My Son's Creditors Take His Inheritance?
Some people are not good with money, and others run into financial problems that they really didn't cause on their own. This can be something that crosses your mind when you are engaged in your inheritance planning efforts. Clearly, if you were to leave a direct inheritance to a loved one through the terms of a last will, the assets would be in the direct personal possession of the inheritor. They would be treated like any property, and the inherited assets would be available to creditors … [Read more...] about Can My Son's Creditors Take His Inheritance?
