Probate avoidance is among the most common of all estate planning goals. If you hope to limit, or even eliminate, your estate’s exposure to the probate, you must plan accordingly. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains five ways to avoid probate. What’s the Big Deal about Probate? When an individual dies, the assets owned by that individual at the time of death make up the decedent’s estate. Probate is the term given to the legal process … [Read more...] about 5 Ways to Avoid Probate
Probate
Top 5 Reasons to Choose Your Executor Wisely
For most people, the first estate planning document they create is a Last Will and Testament. When you create your Will, your focus will likely be on the gifts you make to loved ones in your Will. While the distribution of your estate assets is certainly an important aspect of creating your Will, the appointment of an Executor is also important. In fact, your choice of Executor is probably much more important than you realize. A Carmel estate planning attorney at Frank & Kraft offers five … [Read more...] about Top 5 Reasons to Choose Your Executor Wisely
What Legal Steps Must Be Taken after a Loved One Dies?
When a loved one passes away, we typically focus on the emotional impact of that loss during the immediate aftermath. Someone, however, must also focus on the legal steps that need to be taken following a death. If that person is you, and you have never before been in this position, you likely don’t know where to begin. A Carmel Probate attorney at Frank & Kraft explains some of the most common legal steps that must be taken following the death of a loved one. Who Is in Charge? Often, … [Read more...] about What Legal Steps Must Be Taken after a Loved One Dies?
How Do I Know If I Need to Probate My Mother’s Estate?
If your mother recently passed away, you are undoubtedly mourning her loss. The last thing you probably want to focus on is probating her estate. Someone, however, needs to do so. If it appears as though you are the one who will need to take control of the administration of your mother’s estate, one of the first decisions you need to make is to decide whether formal probate is necessary. It is always best to consult with an experienced probate attorney when making such an important decision. In … [Read more...] about How Do I Know If I Need to Probate My Mother’s Estate?
If a Beneficiary Dies During Probate What Happens to the Inheritance?
Probate can be a complex and complicated process under the best of circumstances and when everything goes as planned. Things don’t always go as planned though. For example, a beneficiary could also pass away during the probate of an estate. An Indianapolis probate attorney at Frank & Kraft explains what happens if a beneficiary dies during the probate of an estate. What Happens During Probate? To understand the impact a beneficiary’s death might have on the probate of an estate, … [Read more...] about If a Beneficiary Dies During Probate What Happens to the Inheritance?
What Happens If Someone Contests a Will?
When a family member passes away, the time period that follows is one filled with grief and a variety of other strong emotions. There are also a number of practical and legal steps that must be taken following a death. Among the most important of those is probating the decedent’s estate which begins with submitting the decedent’s Last Will and Testament to the appropriate court. The terms of that Will provide a roadmap for the distribution of the decedent’s assets. What happens, however, if … [Read more...] about What Happens If Someone Contests a Will?
Ways to Avoid Probate
Your estate plan will likely attempt to achieve several important goals and objectives. For many people, one of those important goals is avoiding probate. Whether you want to avoid probate because of the cost, the time it takes, or simply because you prefer the details of your plan to remain private, you will need to incorporate probate avoidance tools and strategies into your overall plan to ensure that your goal of keeping your estate out of probate. To get you started with your probate … [Read more...] about Ways to Avoid Probate
Carmel Probate Steps for the Beginner
When a loved one passes away, the survivors go through a period of mourning that is typically marked by grief and other strong emotions. For one person, however, the mourning process must give way to the legalities of the decedent’s death. Whoever was appointed as the Executor in the decedent’s Last Will and Testament must find a way to focus on the administration of the decedent’s estate, a process referred to as “probate.” If you find yourself the Executor of the estate of a recently deceased … [Read more...] about Carmel Probate Steps for the Beginner
What Happens If a Prenuptial Agreement Clashes with a Will?
When a spouse passes away, the legal steps that must be taken afterward can be exhausting in light of the grief you are also experiencing. In a perfect world, the decedent’s Last Will and Testament is submitted to the court for probate and his/her assets are eventually distributed to the beneficiaries named in that Will. What happens though, if you entered into a prenuptial agreement with your spouse prior to your marriage and the terms of that agreement now clash with the terms of the … [Read more...] about What Happens If a Prenuptial Agreement Clashes with a Will?
Is Probate Necessary in Indiana?
When a family member or close friend passes away it is usually difficult for surviving loved ones to see past their grief. Someone, however, must focus on the practical and legal ramifications that accompany death. If you recently lost someone close to you and you find yourself contemplating those practical and legal ramifications, one of the first of them will undoubtedly involve the potential need to probate the estate. More specifically, you will need to know if probate is necessary in … [Read more...] about Is Probate Necessary in Indiana?
