Estate Planning

National Estate Planning Awareness Week (NEPAW) is an annual event that takes place every October, aimed at educating individuals and families about the importance of estate planning. This week-long observance provides an opportunity to emphasize the critical role that a comprehensive estate plan plays in securing financial stability and ensuring that a person’s wishes are honored after death or during incapacitation. The Indianapolis attorneys at Frank & Kraft encourage you to focus on your … [Read more...] about October Celebrations: National Estate Planning Awareness Week

Every adult can benefit from having an estate plan in place. When you get married, it becomes even more important to create an estate plan or update an existing plan. One of the fundamental decisions you and your spouse will need to make before getting started with the planning process is whether to create a joint estate plan or separate estate plans. To help you decide whether joint or separate plans are right for you, the Indianapolis attorneys at Frank & Kraft discuss estate planning for … [Read more...] about Estate Planning for Married Couples: Joint or Separate Plans?

Creating a comprehensive estate plan is one of the most important steps you can take to protect your assets and provide for your loved ones. Despite this, many Americans do not have an estate plan in place. Understanding the benefits of a comprehensive estate plan can motivate you to get started. With that in mind, the Indianapolis attorneys at Frank & Kraft explore seven reasons to create an estate plan. The Benefits of Having an Estate Plan in Place Taking the time to create a … [Read more...] about 7 Reasons to Create an Estate Plan

Your estate assets often form the core of your comprehensive estate plan. While you may be concentrating on accumulating assets, you might be neglecting another crucial aspect of estate planning. Ensuring sufficient liquidity in your estate is every bit as important as amassing assets to be passed down to loved ones. To help you better understand, the Indianapolis attorneys at Frank & Kraft explain why liquidity is important in your estate plan. Estate Planning Goals Common estate … [Read more...] about Why Is Liquidity Important in Your Estate Plan?

Estate planning is essential for everyone, but it holds particular significance for women. Women often face unique challenges and circumstances that necessitate a tailored approach to ensure their wishes are honored and their loved ones are protected. With that in mind, the Indianapolis attorneys at Frank & Kraft discuss estate planning for women. Understanding the Importance of Estate Planning for Women Estate planning involves creating a comprehensive plan for managing and … [Read more...] about Estate Planning for Women

If you have yet to create an estate plan, you have undoubtedly listened to well-meaning family members and friends urging you to get started on your plan. What these people may not have explained is why it is so important to have an estate plan in place. Without an estate plan, the State of Indiana essentially creates a plan for you. To help you better understand the importance of estate planning, the Indianapolis attorneys at Frank & Kraft explain what happens if you die without an estate … [Read more...] about What Happens If You Die Without an Estate Plan in Indiana

A Grantor Retained Income Trust (GRIT) is an estate planning tool designed to reduce the tax implications associated with transferring wealth to beneficiaries. It is particularly useful for high-net-worth individuals seeking to minimize gift and estate taxes. To help you decide if a GRIT fits into your estate plan, the Indianapolis attorneys at Frank & Kraft discuss the mechanics of GRITs, their benefits, potential drawbacks, and practical applications. What Is a GRIT? A Grantor … [Read more...] about Estate Planning Tools: What Is a GRIT?

For many individuals, the ability to dictate how their estate assets are distributed is the number one reason for crafting an estate plan. Simply creating an estate plan is not enough though. Making sure that your estate plan is comprehensive and well-drafted is equally important because a poorly devised or incomplete plan could inadvertently result in leaving behind an intestate estate. To help ensure that your estate plan works as intended, the attorneys at Frank & Kraft explain how you … [Read more...] about Are You Unintentionally Leaving Behind an Intestate Estate?

When people focus on estate planning, they tend to concentrate on assets, beneficiaries, and their own final wishes. One vital aspect often overlooked is the welfare of beloved pets. As cherished members of our families, a pet’s well-being should be a priority even after we're no longer able to care for them ourselves. Crafting a comprehensive pet plan within your overall estate plan ensures that your furry companions receive the love, attention, and support they deserve if death or incapacity … [Read more...] about A Comprehensive Guide to Pet Planning in Your Estate Plan

If you are a resident of Indiana, that makes you what they refer to in the south as a “snowbird.” Like many “snowbirds,” you may have a vacation house somewhere warm where you can escape to the ocean. If you relish the cold, snowy weather, you might even have purchased a vacation home near a ski resort. Maybe your vacation home is in the southwest because you prefer the perpetually sunny skies and dry climate of the desert. Regardless of where your vacation home is located, if it is outside of … [Read more...] about How to Include Vacation Homes in Your Estate Plan