On July 4, 2025, Congress enacted the One Big Beautiful Bill Act (OBBBA), a sweeping legislative package that revised federal tax rules and transfer laws. Although much of the national dialogue has focused on revisions to estate and gift taxes, the measure also brought meaningful updates to ABLE accounts. For Hoosiers with disabilities and their families, these new provisions affect how accounts can be opened, funded, and utilized. To help families understand the impact, the Indianapolis … [Read more...] about How Does the OBBBA Impact My Indiana ABLE Account?
tax
Incorporating the Annual Exclusion into Your Estate Plan
When creating an estate plan, your primary goal is likely to ensure that your assets are distributed according to your wishes after you are gone. Effective estate planning, however, also involves strategies to protect your wealth while you are alive and reduce potential tax liability at death. Without careful planning, estate taxes could take a significant portion of your assets, leaving less for your beneficiaries. Fortunately, the tax code provides several tools to help mitigate this burden. … [Read more...] about Incorporating the Annual Exclusion into Your Estate Plan
Can an Estate Plan Completely Eliminate Estate and Inheritance Taxes?
Tax avoidance is a common, and important, estate planning goal for many people. If you have not considered the need to plan for the impact of estate and inheritance taxes within your estate plan, there is no time like the present to do so. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss estate planning tools and strategies that can help you eliminate estate and inheritance taxes. What Are Estate Taxes? When you die you will leave behind an estate … [Read more...] about Can an Estate Plan Completely Eliminate Estate and Inheritance Taxes?
