Estate Planning

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 why funeral planning should be … [Read more...] about Why Funeral Planning Should Be Part of Your Estate Plan

Once your estate plan is in place, you may feel like you have pertinent, even crucial, information that applies to your estate plan, yet does not fit anywhere in your existing plan. When important information needs to be included in your estate plan but there is nowhere practical to include it, including an explanatory letter with your estate planning documents may be the solution. An Indianapolis estate planning attorney at Frank & Kraft explains how to add explanations or instructions to … [Read more...] about How to Add Explanations or Instructions to Your Estate Plan

For many retirees, Social Security retirement benefits play a significant role in financing their retirement years. If you recently lost a spouse, finances may be especially tight for you, leaving you to wonder whether you are entitled to any assistance based on your deceased spouse’s Social Security benefits. The Indianapolis estate planning attorneys at Frank & Kraft explain when and how you might qualify for your spouse’s Social Security Benefits. Social Security System Basics To … [Read more...] about Can I Qualify for My Spouse’s Social Security Benefits?

Decisions relating to an aging parent’s medical care can often spur conflict among siblings. If you and your siblings cannot agree on an overall plan, or even on a specific medical procedure, for a parent it can present a serious problem. Knowing your practical and legal options when a disagreement occurs can help. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss options when siblings cannot agree on medical care for a parent. The Problem When you … [Read more...] about Sibling Dilemma: What Can We Do If We Don’t Agree on Medical Care for Our Parent?

The ability to decide what happens to your estate assets after your death was likely a primary motivation for creating your estate plan. If all goes as planned, all your estate assets are eventually transferred to the intended beneficiaries during probate, the legal process that follows your death. What happens though if assets remain unclaimed at the end of probate?  The Indianapolis estate planning attorneys at Frank & Kraft explain what happens to an unclaimed inheritance in … [Read more...] about What Happens to an Inheritance If No One Claims It?

For most people, one of the primary reasons to create an estate plan is to ensure that their estate is distributed according to their wishes after they are gone. Another reason is to reduce the likelihood of confusion and conflict after they are gone. If you have adult children, you undoubtedly want to do all you can to prevent disputes between them as well. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft offer estate planning tips to prevent sibling … [Read more...] about Estate Planning Tips to Prevent Sibling Disputes

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 What Seniors Need to Know about Estate Planning

Like many people, you may choose to establish a Family Wealth Trust to use as your primary method of distributing your estate. One mistake you do not want to make, however, is eliminating a Will completely from your overall estate plan. The Indianapolis estate planning attorneys at Frank & Kraft explain why you should include a Pour-Over Will in your estate plan even if you have a Family Wealth Trust in place. Your Last Will and Testament A Last Will and Testament is a legally binding … [Read more...] about If I Have a Family Wealth Trust Do, I Still Need a Will?

For the average person, estate planning is an unfamiliar – and often intimidating -- concept. Although every estate plan is uniquely tailored to the needs and goals of the person creating the plan, there are some documents found in most plans. To help you familiarize yourself with these documents, the Indianapolis estate planning attorneys at Frank & Kraft discuss three documents that should be in your estate plan. Contact Indianapolis Estate Planning Attorneys For more information, … [Read more...] about Top 3 Estate Planning Documents

For many people, a successful estate plan needs to limit exposure to federal and/or state gift and estate taxes. Failing to incorporate tax avoidance strategies into your estate plan could cost your estate (and your beneficiaries) a substantial amount of money. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain how to benefit from the annual exclusion. Understanding Federal Gift and Estate Taxes The federal gift and estate tax is essentially a tax on … [Read more...] about Understanding the Annual Exclusion