One of the most popular estate planning goals is probate avoidance. One of the most common reasons why people want to avoid probate is the cost involved in administering an estate. To better help you understand why avoiding probate is so desirable, the Indianapolis estate planning attorneys at Frank & Kraft explain how much probation the average estate could cost. What Is Involved in Administering My Estate? When you die, you will leave behind a legal estate consisting of all assets … [Read more...] about How Much Does Probate Cost?
Estate Administration Process in Indiana
If you recently lost a loved one and you were appointed to be the Executor of the estate, you must manage both your grief and be able to concentrate on the practical and legal ramifications of the decedent’s death. Probating an estate can be a complex and time-consuming endeavor, which is why many Executors choose to retain an experienced probate attorney to help them through the process. If you find yourself responsible for probating an estate, the Indianapolis probate attorneys at Frank & … [Read more...] about Should I Hire a Lawyer to Help Me Administer an Estate?
If you are in the process of creating your Will, be careful not to overlook the importance of the Executor you appoint because he/she will be responsible for overseeing the administration of your estate after you are gone. One of the most common estate planning mistakes people make is to appoint someone as the Executor of their estate without giving the matter due consideration. The Indianapolis estate planning lawyers at Frank & Kraft explain how to pick the right person for the … [Read more...] about Picking the Administrator of Your Estate?
Trust administration is a method of transferring assets after the death of a trust creator. This method of transferring assets is utilized when the assets to be transferred are held in a trust. The ability to transfer assets through trust administration is one key reason why many people create trusts. If assets do not transfer in this way, and if other estate planning tools are not used to facilitate the timely transfer of assets, assets may have to transfer through the probate process. There … [Read more...] about Trust Administration Benefits Compared with Probate
An Indianapolis trust administration lawyer can provide you with legal representation if you are creating a trust, if you are a trust beneficiary, or if you are involved in any way with the trust administration process. The trust administration process occurs after a trust creator – called a settlor – passes away. It is an alternative process to probate, and it facilitates the transfer of trust assets to the heirs or beneficiaries who will take ownership. Frank & Kraft has … [Read more...] about Who Oversees the Trust Administration Process?
Trusts have been gaining in popularity in recent years, as more people learn about the many benefits they can provide when used as part of a comprehensive estate planning strategy. For the grantor and beneficiaries of any trust, those benefits can include everything from tax savings and efficient financial planning to reduced asset transfer delays, increased privacy, and more. For the successor trustee charged with eventual administration of the trust, however, the role comes with an incredible … [Read more...] about Tasked with Trust Administration? Get the Help You Need!
Have You Considered the Estate Administration Process from Paul Kraft The executor will assume a lot of responsibility, and the estate administration process can be time intensive in some cases. Your executor should be a business savvy individual who is ready, willing, and able to take on these tasks. Anticipated longevity and geographical location will be factors to consider, and impartiality would also be a consideration. Learn more about have you considered the estate … [Read more...] about Have You Considered the Estate Administration Process