As you mature, and both your estate and your family grow, your estate plan will likely become more complex as well. A number of additional estate planning tools and strategies will be added to your initial plan in order to keep up with your changing needs and expanding goals. If you are part of a blended family, one of the estate planning tools you may decide to incorporate into your plan is a Qualified Terminable Interest Property, or QTIP, trust. Only your estate planning attorney can help … [Read more...]
Can a Trustee Be Removed?
If you are fortunate enough to be the beneficiary of a trust, it means that you are entitled to benefit from the assets held by the trust. It also means that you are dependant on the Trustee of the trust to protect and grow those assets. The vast majority of the time this relationship works exactly as intended; however, there are times when it does not. As the beneficiary of a trust, can you do anything if the Trustee is not performing as he/she should? Can the Trustee be removed? The … [Read more...]
How Much Discretion Should Your Trustee Have?
Once you outgrow your initial estate plan, you will likely find that you need to incorporate a wide range of estate planning tools and strategies to ensure that your plan will achieve the ever-expanding list of inter-related goals now included in your plan. One of the tools you may choose to utilize is a trust. Trusts have become increasingly popular, due in large part to the flexible nature of a trust. When creating your trust you must focus on how the trust will be administered, starting with … [Read more...]
Why Is a Professional Trustee Often Best?
Including a trust in an estate plan has become a very popular option in recent years given the numerous and varied goals a trust can help accomplish. If you are considering the addition of a trust in your estate plan, one of the most important decisions you will need to make when you create your trust is who to appoint as your Trustee. A common mistake people make when they create a trust is to appoint someone close to them, such as a spouse or family member, as the Trustee without giving due … [Read more...]
What are The Top Living Trust Benefits?
It is important to understand all of the potential living trust benefits when you decide if you want to make a living trust. The specific benefits can vary depending upon your personal situation, so it is a good idea to talk with an experienced attorney who can provide you with personalized advice on whether a living trust is the right tool for you to use. Frank & Kraft can help. A compassionate and knowledgeable member of our legal team can work with you to understand your goals for the … [Read more...]
What Can an Indianapolis Living Trust Attorney Do For You?
An Indianapolis living trust attorney can provide you with invaluable help as you plan for your future. When you are considering how to protect your assets, provide for your family, and ensure you have taken control over your future, you should strongly consider reaching out to an attorney with experience creating trusts in order to find out if a trust is right for you. Frank & Kraft has provided assistance to many individuals and families with identifying the legal tools that they need … [Read more...]
What Does a Trust Administrator Do?
If you have been chosen to serve as a trust administrator, you need to be aware that you will have some very substantial obligations if you decide to fulfill this role. A trust creator may select you as a trust administrator and if you agree to administer the trust, you will be responsible for managing trust assets and facilitating the transfer of assets during the trust administration process after a death. Frank & Kraft can provide you with help understanding what your responsibilities … [Read more...]
Do You have to Go to Court During the Indianapolis Trust Administration Process?
The Indianapolis trust administration process is a process by which assets can transfer after the death of their owner. In most situations, it is possible to entirely avoid the probate process if you create a comprehensive estate plan that includes a trust and that allows assets to transfer through trust administration. This is a major benefit for many reasons, including the fact that avoiding probate can save money and time. Avoiding probate can also allow you to avoid going to court, in most … [Read more...]
What if You Make the Wrong Kind of Trust?
An Indianapolis trust attorney will provide help with selecting the correct type of trust to create. Trusts are versatile and powerful legal tools that can help you to achieve many different goals, from protecting your wealth to protecting your loved ones. But, the very versatility that makes trusts so useful can also make it difficult for individuals to create trusts without getting legal advice. The problem is, far too many people make the wrong type of trust and end up not getting the … [Read more...]
Trust Administration Benefits Compared with Probate
Trust administration is a method of transferring assets after the death of a trust creator. This method of transferring assets is utilized when the assets to be transferred are held in a trust. The ability to transfer assets through trust administration is one key reason why many people create trusts. If assets do not transfer in this way, and if other estate planning tools are not used to facilitate the timely transfer of assets, assets may have to transfer through the probate process. There … [Read more...]
