An irrevocable living trust can be a powerful tool within your estate plan. Like most estate planning tools, however, an irrevocable living trust comes with both significant benefits and potential drawbacks. Understanding the advantages and disadvantages of incorporating an irrevocable living trust into your estate plan is crucial when deciding if it is the right strategy for you. It is always best to work directly with an experienced estate planning attorney when making decisions about your … [Read more...] about Is an Irrevocable Living Trust Right for My Estate Plan?
Living Trusts
10 Reasons to Include a Revocable Living Trust in Your Estate Plan
Trusts are an increasingly popular estate planning tool found in the average estate plan. Trusts are broadly categorized as testamentary or living with living trusts further classified as revocable or irrevocable. Including a revocable living trust in your estate plan can be a strategic move that can help you achieve a variety of estate planning goals. To better help you understand the benefits, the Indianapolis attorneys at Frank & Kraft explain 10 reasons to include a revocable living … [Read more...] about 10 Reasons to Include a Revocable Living Trust in Your Estate Plan
Advantages and Disadvantages of an Irrevocable Living Trust
Your Last Will and Testament likely serves as the cornerstone of your estate plan; however, it is also likely that you will include additional estate planning tools and strategies into your plan to make sure you achieve all your estate planning goals. One of those additional tools may be a trust. If you choose to include a trust in your estate plan, you will need to decide if that trust will be revocable or irrevocable. An Indianapolis attorney at Frank & Kraft discusses the advantages and … [Read more...] about Advantages and Disadvantages of an Irrevocable Living Trust
Can I Change the Terms of My Trust?
Like many people, you may include a living trust in your estate plan. As the Settlor of the trust, you appoint the Trustee, designate the trust beneficiaries, and dictate the terms used to administer the trust. You will also choose how you wish to fund the trust. No matter how much thought you put into making all those initial decisions, circumstances may change in the future causing you to want to modify your trust. To explain how that works, an Indianapolis trust attorney at Frank & Kraft … [Read more...] about Can I Change the Terms of My Trust?
How Can a Living Trust Help Me?
Although you will undoubtedly continue to rely on a Will within your estate plan, as your family and your estate grow you will need to incorporate additional tools into your estate plan in order to achieve a widening circle of goals. Among the most common of those additional tools is a living trust. While there are a seemingly endless number of reasons why you might want to include a living trust in your estate plan, the Indianapolis trust attorneys at Frank & Kraft explain how a living … [Read more...] about How Can a Living Trust Help Me?
What Does It Mean If a Trustee Is Accused of Self-Dealing?
Trusts are frequently incorporated into a comprehensive estate plan. If you decide to incorporate a trust into your estate plan, you will need to appoint someone to be the Trustee of the trust. Your choice of Trustee is extremely important because your Trustee will be in a fiduciary role. There are several ways a Trustee can violate the duties that come with that fiduciary role. The Indianapolis trust administration attorneys at Frank & Kraft explain what it means if a Trustee is accused of … [Read more...] about What Does It Mean If a Trustee Is Accused of Self-Dealing?
Using a Living Trust to Avoid Leaving a Lump Sum Inheritance
When you create your estate plan you will need to make a number of important decisions. Along with deciding who to gift assets to, you will also need to decide how to gift those assets. For example, an Indianapolis estate planning attorney at Frank & Kraft explains how a living trust can help you avoid passing down a lump sum inheritance. What’s Wrong with a Lump Sum Inheritance? Most people hope that the inheritance they leave behind for a loved one serves to help protect and provide … [Read more...] about Using a Living Trust to Avoid Leaving a Lump Sum Inheritance
When Does a Living Trust Terminate?
Creating an estate plan typically requires you one to contemplate numerous inter-related goals and objectives at the same time. To achieve all those objectives, you may need to incorporate numerous estate planning tools and strategies into your estate plan. One of the most popular of those estate planning tools is a living trust. Once your living trust is in place, however, how and when does it terminate? To help you better understand how a living trust works, the Carmel living trust attorneys … [Read more...] about When Does a Living Trust Terminate?
What Is a Revocable Living Trust?
Estate planning is often a complex endeavor that involves a wide range of inter-related tools and strategies. While each estate plan is unique, there are some tools commonly found in an estate plan. A revocable living trust is one of those tools. You should always discuss the specifics of your estate planning needs and goals with your estate planning attorney before deciding what tools and strategies are right for you; however, it also helps to familiarize yourself with some of them ahead of … [Read more...] about What Is a Revocable Living Trust?
What Does a Living Trust Do for You?
Whether you are creating your very first estate plan, or updating one for the fifth time, there is a good chance that the option to incorporate a living trust into your plan will come up. As with all decisions relating to your estate plan, you should consult with your estate planning attorney before deciding to include a living trust in your plan. In the meantime, however, you may find it helpful to learn more about what a living trust can do for you. What Is a Living Trust? A living trust … [Read more...] about What Does a Living Trust Do for You?
