Estate Planning

Every adult should have at least a basic estate plan in place; however, if you are a single parent the need to have a plan in place is significantly increased. To help you better understand why that is, an Indianapolis estate planning attorney at Frank & Kraft explains estate planning concerns for the single parent. How Can an Estate Plan Help a Single Parent? If you are a single parent, you already know what a difficult job it is.  Raising a child by yourself presents challenges … [Read more...] about Estate Planning for the Single Parent

Are you serving as the Executor of the estate of a recently deceased loved one? If so, you may already know how complex and complicated the probate of an estate can be. At some point during the process, you may be asked to provide an estate accounting. If this is the first time you have served as an Executor, you may not know what an estate accounting entails. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain what is involved in an estate … [Read more...] about Executor Duties – Estate Accounting

Although we know better, we all prefer to think that our loved ones will live forever. Understandably, you have probably never sat down and thought about what steps you need to take after the death of a loved one. Consequently, if you find yourself in that position you may not know what to do. Although every experienced is unique, the Indianapolis estate planning attorneys at Frank & Kraft put together a list of practical steps that typically need to be taken following the death of a loved … [Read more...] about What to Do Following the Death of a Loved One

If you own cryptocurrency it is important to understand how your cryptocurrency fits into your estate plan. Given the unique characteristics of cryptocurrency, failing to identify and include it in your estate plan could cause it to be lost forever after you are gone. That could cheat your loved ones out of the value of that cryptocurrency. A Carmel estate planning attorney at Frank & Kraft discusses the need to include cryptocurrency as an asset in your estate plan. What Is … [Read more...] about Do I Need to Include Cryptocurrency in My Estate Plan?

An estate plan that functions as intended will help protect and grow your assets as well as ensure that your loved ones are provided for in the event of your death or incapacity. If you have an estate plan in place already, you are ahead of most Americans; however, you are not done yet. In fact, updating your existing estate plan is just as important as creating the initial plan because an out of date estate plan can wreak havoc on your estate if something happens to you. The Indianapolis estate … [Read more...] about Is Your Estate Plan Up to Date?

A well thought out estate plan can protect you and your loved ones while you are alive as well as after you are gone. For your plan to fully protect you and your loved ones though, you will need to contemplate a subject matter that will not be particularly comfortable –your own funeral and burial. The Indianapolis estate planning lawyers at Frank & Kraft explain why funeral planning should be part of your estate plan. The Cost of Dying Thinking of your death and funeral in terms of the … [Read more...] about Why Should Funeral Planning Be in My Estate Plan?

If you have a family pet, you probably consider that pet to be a member of the family. You undoubtedly schedule regular visits to the veterinarian to make sure your beloved pet is healthy and happy as well as make plans for your pet’s care when you leave town. One thing you may not have done yet though is include your family pet in your estate plan. As part of the family though, your pet should be included in your plan. An Indianapolis estate planning attorney at Frank & Kraft discuss how to … [Read more...] about How to Include Your Pet in Your Estate Plan

An inheritance can come in many forms. One of the assets that is frequently passed down to loved ones is an IRA or 401(k) account. If you recently inherited one of these accounts, you need to understand the rules and the tax consequences that go along with your inheritance. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains the options for an inherited IRA or 401(k). Estate Tax Basics When an individual passes away, his/her estate typically has to go … [Read more...] about What Can I Do with the IRA I Inherited?

When drafted properly, a well thought out estate plan can accomplish a number of inter-related goals. The estate planning process, however, is something that never really ends. Instead, your estate plan should evolve over time and grow along with you, your family, and your estate. As times goes by, you will likely find that you need to include additional estate planning tools and strategies in order to fulfill the needs of your growing family and address the ever-changing goals you have for your … [Read more...] about What Is a Letter of Instruction?

A well-drafted estate plan will accomplish a wide range of estate planning goals that go beyond just deciding how your estate assets are to be distributed after you are gone.  Protecting those assets while you are alive and ensuring that they are immediately available to your loved ones when they need them after your death should also be priorities within your estate plan. To ensure that your loved ones will have access to sufficient assets to cover living expenses after you are gone, you … [Read more...] about How Do I Know If My Estate Has Enough Liquidity?