You will likely use a simple Last Will and Testament as the foundation for your initial estate plan. Over the course of your lifetime though, your estate and your family may grow, calling for additional estate planning strategies and tools to address that growth. For many people, adding a trust is the next step. You may even decide to rely on that trust as your primary vehicle for the distribution of your estate assets. To help you learn more about both, an Indianapolis estate planning attorney … [Read more...] about Wills and Trusts General Information
Wills and Trusts
Spending a lifetime amassing assets doesn’t do much good if you don’t then protect those assets from potential threats. Fortunately, there are a number of estate planning tools that can be used to protect assets, including a Domestic Asset Protection Trust (DAPT). To help you better understand, an Indianapolis asset protection planning attorney at Frank & Kraft explains how a DAPT helps protect your assets. DAPT Basics A domestic asset-protection trust (DAPT) is an irrevocable … [Read more...] about What Type of Trust Helps with Asset Protection Planning?
Before you decide to use a Do-It-Yourself form to create your Last Will and Testament, you should understand who may pay the price for that decision. To help you better understand, a Carmel estate planning attorney at Frank & Kraft explains what’s wrong with using a Do-it-Yourself Will form. The Price Your Loved Ones Pay In today’s electronic age, where everything can be found on the internet, it may seem easier to simply download a Last Will and Testament form and fill in the blanks … [Read more...] about What’s Wrong with Using a Do-it-Yourself Will Form?
The death of a parent is not easy to handle, no matter how old you are when it happens. If your father recently passed away, you are undoubtedly still grieving the loss. Finding out that your father executed a last minute “death bed” Will has you wondering if you can contest that Will. An Indianapolis estate planning attorney at Frank & Kraft discusses the legality of a death bed Will and what you would need to prove to successfully contest that Will. The “Death Bed” Will Any … [Read more...] about Can I Challenge My Father’s Death Bed Will?
Probate is a legal process that the average person knows very little about unless they have been through the process following the death of a loved one. If the decedent left behind a Last Will and Testament, the person in charge of overseeing the probate of the estate is the person named as Executor in that Will. If you find yourself named as the Executor of an estate, you may wonder what powers you have. To help you better understand what you can, and cannot do, a Carmel probate attorney at … [Read more...] about What Are the Powers of the Executor of the Will?
Funeral planning may not be the first thing you think about when you contemplate your estate plan; however, it is something that you should consider including. If you do decide to incorporate a funeral planning component in your estate plan you may choose to create a funeral trust. For those who are not familiar with them, the Carmel estate planning attorneys at Frank & Kraft explain how a funeral trust works. Why Is Funeral Planning Important? Thinking of your death and funeral in … [Read more...] about What Is a Funeral Trust?
You undoubtedly know that a Last Will and Testament serves as the foundation for most estate plans. What you may not know, however, is that not all Wills are created equal. In fact, there are several different types of Wills from which to choose when creating your estate plan. The Indianapolis estate planning lawyers at Frank & Kraft offer a brief explanation of the various types of Wills to help you decide which type of Will is right for you. Simple Will -- a Simple Will is what you … [Read more...] about What Type of Will Is Best for Me?
Originally, trusts were used almost exclusively by wealthy families to protect that wealth and pass it down to future generations. As trusts evolved, however, they became more “user-friendly.” Today, there is a specialized trust to meet almost any estate planning goal which is why trusts are so frequently found in the average estate plan. If you are considering the addition of a trust to your estate plan, it helps to learn all you can about how a trust might fit into your overall plan. Toward … [Read more...] about Top 3 Uses for a Revocable Trust
Most people consider their Last Will and Testament to be a serious document that reflects their wishes for the distribution of their estate assets after they are gone. Occasionally, however, a Testator uses his/her Will to make a statement or to make a point. Such was the case in the following Wills that will undoubtedly be remembered not just by the beneficiaries and heirs of the estates, but by anyone who reads the provisions included in them. A Dog Really Is Man’s Best Friend In 2004, … [Read more...] about Strange Provisions People Included in Their Wills
Although every estate plan is as unique as the person who creates the plan, there are some common tools and strategies found in the average plan. One of those is a trust agreement. If you elect to incorporate a trust into your estate plan, one of the most important decisions you will need to make is deciding who to appoint as your Trustee. What happens though, if that Trustee is unable, or unwilling, to serve? A Carmel trust administration attorney explains what happens if your designated … [Read more...] about What Happens If a Trustee Is Unable to Serve?