Whether you are a new parent or the parent of adult children, you undoubtedly want to protect the inheritance you intend to leave for your children. Establishing a trust is the most popular way to accomplish this common goal. To ensure that the trust works as intended, you want to avoid making mistakes when setting up the trust. Toward that end, the Indianapolis estate planning attorneys at Frank & Kraft explain common mistakes parents make when establishing a trust for their … [Read more...] about Parents – Avoid Making These Mistakes When Establishing a Trust for Your Children
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When Do I Need to Update a Trust Agreement?
Trust agreements are commonly found in a comprehensive estate plan. If you have established a trust agreement, you may need to update that agreement from time to time to ensure that the trust functions as intended. To help you keep your trust up to date, the Indianapolis trust attorneys at Frank & Kraft explain when you need to update a trust agreement. Contact Indianapolis Trust Attorneys For more information, please join us for an upcoming FREE seminar. If you have additional … [Read more...] about When Do I Need to Update a Trust Agreement?
What Does It Mean to Decant a Trust?
Like many people, you may have included a trust agreement in your overall estate plan. If that trust is an irrevocable trust, you were likely told that you cannot modify, amend, or revoke the trust. What happens though if circumstances change, and your irrevocable trust needs to be modified or amended? While it is always best to operate under the assumption that an irrevocable trust cannot be changed, there may be a way to make changes to an irrevocable trust. The Indianapolis trust … [Read more...] about What Does It Mean to Decant a Trust?
Can a Trust Beneficiary Sell Her Interest in the Trust Assets?
The beneficiaries of a trust have a current or future legal ownership interest in the assets held by the trust. The trust terms will dictate when the beneficiaries receive distributions from the trust and how much they receive. Sometimes, however, a beneficiary wants or needs the value of her interest in the trust prior to the scheduled distribution. That brings up the issue of a beneficiary’s ability to sell her interest in a trust. The Indianapolis trust attorneys at Frank & Kraft … [Read more...] about Can a Trust Beneficiary Sell Her Interest in the Trust Assets?
