If you already have an estate plan in place, you are ahead of the majority of Americans. You also likely understand the importance of estate planning and realize the gift you are giving yourself and your family. Your estate plan, however, can only work as intended if it reflects your current needs, wishes, and goals. That means you need to review and update your plan from time to time. Toward that end, the Indianapolis attorneys at Frank & Kraft offer an estate plan review checklist to help … [Read more...] about Estate Plan Review Checklist
For an adult child with aging parents, it can be difficult to broach the subject of estate planning; however, it is also important to do so. A thorough estate plan will not just direct the distribution of assets after your parents pass away but can also protect those assets while they are still alive and ensure that their wishes are honored if they become incapacitated. While it is not necessary for you to know all the details of their estate plans, it is important for you to make sure that they … [Read more...] about Talking to Your Parents about Their Estate Plans: Questions to Ask
Not all that long ago, there was little need to define what was meant by “assets” when it came time to create an estate plan. In the 21st century, however, your “assets” can be a bit more difficult to define. In today’s digital world, some of your most expensive “assets” are not things you can see or feel. Cryptocurrency, for example, can be extremely valuable; however, it can also be difficult to understand, making it a challenge to include in your estate plan. With that in mind, the … [Read more...] about What Happens to Cryptocurrency after You Die?
Some people choose to share the details of their estate plan with loved ones while they are alive. Others prefer to keep those details confidential while alive yet are not concerned about them being made public after their death. Still other people want the details of their estate plan to remain private both while alive and after their death. To ensure that your wishes on the matter are honored, the Indianapolis estate planning attorneys at Frank & Kraft discuss how to keep your estate plan … [Read more...] about Secrecy and Security: Keeping Your Estate Plan Confidential
During the creation of your estate plan, you will be required to make numerous decisions. Some of those decisions will seem relatively unimportant; however, others will have a direct impact on the success – or failure – of your overall estate plan. Among the more important decisions you will make are those that involve choosing a fiduciary. The Indianapolis estate planning attorney at Frank & Kraft explains the importance of choosing the right fiduciaries in your estate plan. What Is a … [Read more...] about The Importance of Choosing the Right Fiduciaries in Your Estate Plan
One of the many confusing things about estate planning for the average person is knowing when to create a plan. The simplest way to clear up the confusion is to explain that it is never too early to start working on an estate plan. Despite that oversimplification, there are certain stages in life when creating an estate plan is particularly important and/or when you need to update an existing estate plan. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss … [Read more...] about Stages of Life When You Need an Estate Plan
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
Creating an estate plan is important; however, making sure that the plan you create works as intended is equally important. Unfortunately, a significant percentage of estate plans fail. Moreover, about 70 percent of estate settlements are followed by asset losses or a reduction in family harmony, according to the 2007 book Estate Planning for the Post-Transition Period by Roy Williams and Vic Preisser. The Indianapolis estate planning attorneys at Frank & Kraft explain why estate plans often … [Read more...] about Why Do Estate Plans Fail?
For some people, philanthropy is part of their everyday life. If you are one of those people, you may also wish to continue your charitable gifting after you are gone. With that in mind, an Indianapolis estate planning attorney at Frank & Kraft explains how you can incorporate charitable gifting into your estate plan. Passing Down Your Legacy through Charitable Gifts If philanthropy is part of your deeply held belief system, why not make it part of the legacy you hand down to your … [Read more...] about Leaving a Legacy of Charity
When the importance of estate planning is discussed, the focus is usually on choosing goals and deciding which tools and strategies to use to achieve those goals. People rarely discuss what you should do with your estate plan once it is complete. The Indianapolis estate planning attorneys at Frank & Kraft stress the importance of the steps you take with your estate plan after it is finished. What Is Included in a Comprehensive Estate Plan? The estate plan you create will be as … [Read more...] about What Should I Do with My Estate Planning Documents?