Estate Planning

Like most areas of the law, estate planning includes concepts and legal jargon with which the average person is unfamiliar. For example, the words “bequest” and “inheritance” are often used interchangeably when, in fact, they are not always synonymous. To help you understand both terms, the Indianapolis estate planning attorneys at Frank & Kraft explain the difference between an inheritance and a bequest. What Is an “Inheritance?” While it may sound like the answer to one of those … [Read more...] about Is an Inheritance and a Bequest the Same Thing?

You may have listened to well-meaning friends and family members tell you how important it is to have an estate plan in place; however, unless you truly understand what an estate plan can do for you, it’s hard to find the motivation to get started on your plan.  The good news is that a well-thought-out estate plan can accomplish a wide range of inter-related goals. A better understanding of how an estate plan can protect you, your assets, and your loved ones during your lifetime and beyond … [Read more...] about Why Do I Need an Estate Plan?

Every year in October, the LGBT community and its supporters celebrate LGBT History Month.  If you will be among those who are celebrating the importance of LGBT history this October, this is also a great time to focus on your estate plan. LGBT History Month reminds us that while great strides have been made in the fight for equality, protecting yourself, your assets, and your loved ones through comprehensive estate planning remains essential. The Indianapolis estate planning attorneys at … [Read more...] about Reviewing Your Estate Plan for LGBT History Month

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. The Indianapolis trust attorneys at Frank & Kraft help you decide who should manage your child's … [Read more...] about Who Should Manage Your Child’s Inheritance?

Each year, we celebrate Hispanic Heritage Month in the United States from September 15 through October 15th. Along with partaking in the numerous and varied festivals and activities planned for Hispanic Heritage Month, the Indianapolis estate planning attorneys at Frank & Kraft encourage you to consider celebrating by sitting down and creating an estate plan to protect yourself, your assets, and your loved ones. What Is Hispanic Heritage Month? Hispanic Heritage Month began in 1968 as … [Read more...] about Celebrate Hispanic Heritage Month by Creating an Estate Plan

One of the most valuable gifts you can give to your loved ones – and to yourself – is a well-drafted and comprehensive estate plan. Not only will it ensure that your wishes are honored regarding your assets after you are gone, but it can also protect you and your family while you are still here. To help make sure you have a successful estate plan in place, an Indianapolis estate planning attorney at Frank & Kraft explains four estate planning mistakes you can avoid making. Failing to … [Read more...] about 4 Estate Planning Mistakes You Can Avoid Making

Amassing assets alone does not ensure a comfortable retirement or a financially secure future for loved ones after you are gone. You must also take steps to protect the assets you acquire. One important way to maximize the assets you can pass down to loved ones is to include tax avoidance strategies in your comprehensive estate plan. Doing so can reduce, or even avoid, a hefty tax obligation for you, your estate, and even your beneficiaries. Understanding how the “basis” of an asset is … [Read more...] about Understanding How Basis Impacts the Transfer of Property

Whether you recently received a terminal diagnosis yourself, or a family member is terminally ill, the diagnosis likely caused a range of strong emotions. In the middle of all those heightened emotions, it can be difficult to think about the practical and legal steps that should be taken following a terminal diagnosis. Those steps, however, are important. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss 10 steps you should consider taking following a … [Read more...] about Steps to Take Following a Terminal Diagnosis

When you create an estate plan, that plan should accomplish several inter-related goals. One of those goals should focus on tax avoidance. After all, no one wants to lose a significant portion of their estate to Uncle Sam. One common mistake you should avoid, however, is to rely too heavily on the unlimited marital deduction. An Indianapolis estate planning attorney at Frank & Kraft explains the problem with relying on the unlimited marital deduction. Federal Gift and Estate Taxes At … [Read more...] about The Problem with Relying on the Unlimited Marital Deduction

Estate planning can be a daunting process the first time around for many people. Ideally, your estate plan should incorporate a wide range of goals and objectives into one comprehensive plan. That plan may utilize numerous estate planning tools and strategies, all of which can seem overwhelming. To help you feel more at ease with getting started on your estate plan, Indianapolis estate planning attorneys at Frank & Kraft offer some estate planning basics for the beginner. Define your … [Read more...] about Estate Planning 101 for the Beginner