Estate Planning

Building your asset portfolio will likely be an important goal during your lifetime. Along with ensuring that you are financially secure when you retire, you probably do this in the hope that you will also be able to pass down assets to children and/or grandchildren. If you are planning to pass down assets, deciding when to pass them down is something you need to consider. Whether assets are passed down during your lifetime or after your death can directly impact your personal taxes while you … [Read more...] about Is It Better to Gift Assets Now or After You Are Gone?

Creating a comprehensive estate plan that functions as intended can be quite the undertaking; however, it is all the best gift you can give to yourself and your loved ones. If you own property outside the State of Indiana, it is imperative that you include that property in your estate plan. To explain why it is important and how it can be accomplished, the Indianapolis estate planning lawyers at Frank & Kraft discuss how to include out of state property in your estate plan. Do You Own … [Read more...] about How to Include Out of State Property in Your Estate Plan

By now, almost everyone has at least heard the term “cryptocurrency” and some people actively buy, sell, and use cryptocurrency on a regular basis. If you own cryptocurrency, how does it fit into your estate plan? To help shed some light on the subject, the Indianapolis estate planning attorneys at Frank & Kraft explain some cryptocurrency basics and discuss how to include it in your estate plan. What Is Cryptocurrency? If you were born before the Millennial generation, cryptocurrency … [Read more...] about How to Include Cryptocurrency in Your Estate Plan

Estate planning involves more than just deciding how your assets will be distributed after your death. If you have a moderate to large estate, one of your estate planning goals should be to avoid losing part of that estate to federal gift and estate taxes. To do that, you need to understand how the tax works and what tools and strategies are available to help reduce your estate’s tax obligation. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains the concept … [Read more...] about What Is Portability?

The aftermath of a divorce – or even the prospect of a divorce – can have a dramatic impact on everyone involved. The financial ramifications alone can last for years to come. If there are significant assets involved, the financial fallout from a divorce will almost certainly impact your estate plan as well. Whether you are simply being prudent and planning for the possibility of a future divorce or you have recently gone through a divorce, you need to consider the estate planning ramifications. … [Read more...] about How Does Divorce Impact Your Estate Plan?

The decisions made when creating an estate plan are highly personal decisions. Understandably, it may be uncomfortable to discuss those decisions with others; however, you will need to share things with your estate planning attorney to create a successful estate plan that works as intended. In fact, failing to be completely open and honest with your attorney could jeopardize the success of your overall estate plan. With that in mind, the Indianapolis estate planning attorneys at Frank & … [Read more...] about 5 Things Your Estate Planning Attorney Needs to Know

Working with an experienced estate planning attorney is the best way to ensure that your estate plan accomplishes all your goals and that it works as intended. Your attorney will provide you with advice and guidance during the creation of your estate plan; however, there are also things you can do to help your estate planning attorney to increase the overall success of your plan. Toward that end, a Carmel estate planning attorney at Frank & Kraft explains what you can do to help your estate … [Read more...] about What Can I Do to Help My Estate Planning Attorney?

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