Most people have a vague understanding of the importance of estate planning; however, there are also several myths and misconceptions surrounding the reason for having an estate plan in place. Specifically, people often have the wrong ideas about what happens after they are gone. To help make sure you do not fall victim to any of these mistaken ideas, the Indianapolis estate planning attorneys at Frank & Kraft discuss five things you might not know about what happens after your … [Read more...] about 5 Things You Might Not Know About What Happens After Your Death
For over a year and a half now the entire world has been grappling with the Covid-19 pandemic. We have lived through lockdowns, social distancing, and the race to create a vaccine. Many of us have also lost loved ones or watched them suffer. The Indianapolis estate planning attorneys at Frank & Kraft discuss how the Covid-19 pandemic has also taught us some important lessons about estate planning. What Should Be Part of Your Estate Plan during the Covid-19 Pandemic? A comprehensive … [Read more...] about Estate Planning Lessons the Covid Pandemic Has Taught Us
For most people, a comprehensive estate plan includes numerous legal documents and various ancillary documents. Which of these is the most important estate planning document? For most people a Last Will and Testament provides the foundation on which their estate plan is built; however, a trust agreement may eventually be just as important. The Indianapolis estate planning attorneys at Frank & Kraft explain which document is the most important one in your estate plan. Your Last Will and … [Read more...] about What Is the Most Important Document in My Estate Plan?
From the moment you first learned you were going to be a parent you likely worried about protecting and providing for your child. That need to protect and provide is evident in your estate plan because you want to be sure your child is financially secure if something happens to you while he/she is still young. Simply leaving an inheritance behind for your child isn’t enough though. As the Indianapolis trust attorneys at Frank & Kraft explain, you must decide who you want to guard that … [Read more...] about How to Guard Your Child’s Inheritance
If you have an estate plan in place already, you are ahead of over half the population in the United States. Taking the time to create that plan, however, is only the first step toward protecting everyone and everything that is important to you. You must also update your plan for it to be successful and work as intended. For example, the Indianapolis estate planning attorneys at Frank & Kraft explain the importance of updating your beneficiary designations. Where Are the Beneficiaries in … [Read more...] about Why It Is Important to Update Your Beneficiary Designations
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 pros and cons of telling your beneficiaries the details of your estate plan. Pros of Sharing … [Read more...] about Should I Tell My Beneficiaries the Details of My Estate Plan?
One common reason people give for not having an estate plan in place is that creating an estate plan is an intimidating prospect. It can also be easy to find yourself believing one of the many myths that exist about estate planning. To help you navigate the world of estate planning, the Indianapolis estate planning attorneys at Frank & Kraft explain five common myths associated with estate planning. You Do Not Need an Estate Plan Yet. One of the biggest estate planning myths is the … [Read more...] about Common Myths Associated with Estate Planning
In the United States, the divorce rate has hovered around 50 percent for some time now. Consequently, blended families that result from second (or subsequent) marriages have all but become the norm in the U.S. While estate planning is important for anyone with a family, it takes on heightened importance if you are part of a blended family. The Indianapolis estate planning lawyers at Frank & Kraft explain why you might need a QTIP trust if you remarry and create a blended family. Estate … [Read more...] about Why You Might Need a QTIP Trust If You Remarry
For many people, philanthropy is an important part of their everyday life. If you are one of those people, your charity does not have to end when you are gone. On the contrary, with careful planning, your charitable gifting can continue long past the time of your death. The Indianapolis estate planning attorneys at Frank & Kraft explain how to incorporate charitable gifting strategies and tools into your estate plan. Philanthropy in Your Daily Life Are you someone for whom philanthropy … [Read more...] about Charitable Gifting Options
If you have an estate plan in place already, you are ahead of the curve in the United States. Surveys indicate that despite understanding how important estate planning is, over half of all Americans do not have a plan. While you deserve to pat yourself on the back for putting together your initial estate plan, do not make the mistake of thinking that you can forget about the issue of estate planning from here on out. On the contrary, your initial estate plan needs to be reviewed and revised … [Read more...] about 5 Reasons to Review Your Estate Plan