Living trust attorneys at Frank & Kraft can provide help with all of the steps involved in creating a trust. There are many decisions that have to be made during the trust creation process. You'll need to select the right kind of trust, decide what assets you want to transfer into the trust and make certain to follow all legal requirements for the creation of your trust document. You will also need to ensure that you select the right person to serve as trustee and that you designate … [Read more...]
Trust Attorneys Can Reduce Family Stress
As estate planning attorneys, a new client will sometimes come to us looking for solutions. In these cases, a loved one passed away, and a very difficult situation was left behind. The surviving family members are wondering if anything can be done to control the damage.In some cases, there are certain things that can be done, but it will depend upon the circumstances. Of course, with anything, if you take the right steps in advance you can prevent future problems.Trust attorneys help people … [Read more...]
What Is Indianapolis Supplemental Needs Trust?
What Is Indianapolis Supplemental Needs Trust? from Paul Kraft Supplemental Security Income is a need-based program that provides financial support for people with disabilities. Learn more about Indianapolis supplemental needs trust in this presentation. … [Read more...]
Free Report: What Is a Qualified Domestic Trust?
There are federal transfer taxes in the United States that can significantly erode your wealth as you are passing it on to your loved ones. These taxes carries a 40 percent maximum rate, and this is certainly an eye-catching figure.The good news is that there is an unlimited marital deduction. You can transfer unlimited assets to your spouse tax-free, as long as your spouse is an American citizen.If you are married to a foreign citizen, you could gain estate tax efficiency through the … [Read more...]
Are There Different Types of Charitable Trusts?
There is nothing more rewarding than charitable giving. Clearly, you gain personal satisfaction when you are in a position to help worthy causes and institutions that are meaningful to you. At the same time, you may be able to gain tax advantages when you indulge your philanthropic urges. A charitable trust of some kind could be part of the plan.Let's look at some of the different types of charitable trusts that are used in the field of estate planning.Charitable Remainder TrustsA … [Read more...]
What Is Trust Administration?
When you look into the facts, you may decide that you would like to use a revocable living trust as your primary vehicle of asset transfer. These trusts provide a number of different advantages that you would not enjoy if you were to use a last will.The creator of the trust is called the grantor in legal parlance. A trust will have a beneficiary who receives monetary distributions, and there is also a trustee.With a revocable living trust, the grantor will typically act as the trustee and … [Read more...]
Should I Use a Corporate Trustee?
If you are not extremely wealthy, you may assume that you should use a last will as a vehicle of asset transfer rather than a trust. This is a popular misconception, but it is just that, a misconception.There are different types of trusts. Indeed, there are trusts that are used by high net worth individuals who are exposed to the federal estate tax. This tax is potentially applicable on asset transfers that exceed $5.34 million. (This is the figure that is in place for 2014.)However, … [Read more...]
Estate Planning: Is My Last Will Enough?
Some people oversimplify the process of estate planning. They reduce the endeavor to the creation of a last will, and they leave it at that.In reality, there are a lot of things to take into consideration. There are many different ways to facilitate future asset transfers. A last will may not be the best choice for you.If you have a last will, you lose a good bit of control. The assets would be divided like slices of a pie, and the inheritors would assume direct personal control of the … [Read more...]
Free Report: What is a Qualified Personal Residence Trust in Indianapolis?
Everyone is not exposed to the federal estate tax, because there is a federal estate tax credit or exclusion. A $5 million exclusion was installed for the 2011 tax year. This base has been retained since then, but there have been annual adjustments to account for inflation.Topics covered in this report include: Estate Tax Exclusion Federal Gift Tax Qualified Personal Residence TrustsClick here to read the whole article or download the PDF. … [Read more...]
