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
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?
By its very nature, estate planning is a highly personal undertaking. The details regarding the division of your estate assets, for example, are not something you likely share with anyone outside your immediate family. You may not even want your immediate family members to know how your estate assets are distributed after you are gone. If you use a Last Will and Testament as your primary estate planning vehicle, however, you won’t be able to keep the terms of that Will private after your death. … [Read more...] about How Can a Trust Help Keep My Estate Planning Details Private?
If you have children, you have likely tried to treat your children equally and not play favorites. When it comes to deciding how to distribute your estate, however, an equal distribution may be problematic. When your children are young, there are no extenuating circumstances to consider which makes decisions regarding the distribution of assets within your estate plan much easier. Once they are adults, however, things may become more complicated, and you may have concerns about distributing … [Read more...] about What to Do If You Are Considering an Unequal Division of Your Estate
Every adult should have at least a rudimentary estate plan in place; yet, over half of all Americans do not. This is the case despite most of those without a plan acknowledging the need for one. Often, failing to understand why an estate plan is so important is the problem. To help keep you from making that mistake, the Indianapolis estate planning attorneys at Frank & Kraft explain why you do not want to die intestate. What Is an “Intestate” Estate? If you leave behind a valid Last … [Read more...] about Why You Should Avoid Dying Intestate
Estate planning, by definition, involves making plans for your estate assets in the event of your death. Your estate consists of all real and personal property as well as tangible and intangible assets owned by you, or in which you share an ownership interest, at the time of your death. Assets such as your home, vehicles, investment accounts, and securities likely come to mind when you contemplate estate planning; however, there is another category of assets that may also need to be considered – … [Read more...] about Intellectual Property and Your Estate Plan
Having at least a basic estate plan in place is important for every adult. If you are the parent of a young child, however, the need for careful estate planning is heightened. Your minor child cannot manage his/her own inheritance. Consequently, you must choose someone to do so for your child. The Indianapolis estate planning attorneys at Frank & Kraft help you choose the right person to guard your child’s inheritance. How Will You Pass Down Your Child’s Inheritance? When you … [Read more...] about Who Should Protect My Child’s Inheritance?
Every American should have a comprehensive estate plan in place. For seniors, the need for planning is heightened. If you are a senior and have yet to create a plan, there is no time like the present to do so. Understanding why an estate plan is so important should provide the motivation to get you started. The Indianapolis estate planning attorneys at Frank & Kraft explain what seniors need to know about estate planning. Why Is Estate Planning Crucial for Older Americans? When you … [Read more...] about Estate Planning for Seniors
The month of November, also known as "Movember," is all about men's health awareness. During Movember mustaches grow longer. Those mustaches turn men into walking, talking billboards for men’s health to bring attention to prostate cancer, testicular cancer, mental health, and suicide prevention. The Indianapolis estate planning attorneys at Frank & Kraft encourage you to review your estate plan during Men’s Health Awareness Month this Movember to make sure it protects you, your assets, and … [Read more...] about “Movember” Is a Good Time to Review Your Estate Plan
As a parent, grandparent, or other family member, you may wish to gift assets to minors within your estate plan. If so, care must be taken when making gifts to minors, both during your lifetime and after you are gone. The Indianapolis estate planning attorneys at Frank & Kraft explain why you need to understand the Uniform Transfer to Minors Act (UTMA) if you plan to transfer assets to minors in your estate plan. The History of the UTMA The Uniform Transfer to Minors Act is a model law … [Read more...] about What Is Uniform Transfer to Minors Act?