A comprehensive estate plan aims to accomplish numerous goals that go above and beyond just distributing the creator’s estate assets after he/she is gone. Protecting assets, both during life and after death, should be one of those additional goals. The way in which you hold legal title to real property can directly impact your ability to achieve that goal. With that in mind, an Indianapolis attorney at Frank & Kraft discusses whether you should include a life estate in your Indiana estate … [Read more...] about Should My Indiana Estate Plan Include a Life Estate?
In the 21st century, we are all accustomed to finding just about anything we are looking for with a quick internet search. It can be tempting to google your medical symptoms instead of consulting a physician or rely on fill-in-the blank legal forms instead of working with an experienced attorney. To discourage you from doing the latter, the Indianapolis estate planning attorneys at Frank & Kraft explain several of the numerous benefits of working with an estate planning attorney. What Is … [Read more...] about What Are the Benefits of Working with an Estate Planning Attorney?
The prospect of sitting down and creating an estate plan can be daunting for many people. In fact, about half of all Americans do not have an estate plan in place, often because they find the entire concept to be intimidating. If you are ready to get started with your estate plan, but you are not sure where to start, the Indianapolis estate planning attorneys at Frank & Kraft suggest that you start by asking yourself some important estate planning questions. Estate Planning Can Be … [Read more...] about What Are Some Good Estate Planning Questions to Ask Myself?
For many people, charitable gifting is an important part of who they are and of the legacy they hope to leave behind when they are gone. If you are among them, incorporating your philanthropic goals into your estate plan is important. When doing so, you should maximize any secondary benefits that might be available to you. One charitable gifting tool you may wish to consider using is a charitable gift annuity. The Indianapolis estate planning attorneys at Frank & Kraft explain what a … [Read more...] about What Is a Charitable Gift Annuity?
Probate is the legal process typically required after an individual’s death to settle and distribute the decedent’s estate. The probate process can be costly and complicated even without disputes; however, when a dispute turns into litigation, it can wreak havoc with the administration of the estate. The Indianapolis estate planning attorneys at Frank & Kraft explain how an estate might end up in litigation. Probate Basics After the death of an individual, his/her assets must be … [Read more...] about How Might an Estate End Up in Litigation?
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 How Can I Incorporate Charitable Gifting into My Estate Plan?
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 What Happens to My Estate after My Death?
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 marital deduction. An Indianapolis estate planning attorney at Frank & Kraft explains the marital deduction is often not enough to protect your estate from federal gift and estate taxes. Federal … [Read more...] about Why You Should Not Depend Entirely on the Marital Deduction
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 Immediately Update Your Estate Plan
It can be extremely difficult for adult children to accept the fact that their parents are experiencing the mental and/or physical deterioration that accompanies the natural aging process. A role reversal often occurs when a parent’s aging makes them vulnerable. The parent becomes the child, and the child becomes the caregiver. If you feel this is starting to happen, it is imperative that you discuss estate planning with your parents. Toward that end, the Indianapolis elder law attorneys at … [Read more...] about How to Approach Estate Planning with Your Aging Parents