An Indianapolis trust lawyer can assist you in determining if creating a trust is the best approach for accomplishing your estate planning or asset protection goals. Trusts are a powerful legal tool that can assist you in more easily transferring assets to loved ones and that can provide protection for your assets both during your life and after you death. Unfortunately, many people misunderstand what trusts can do and how they work. It is a common misconception that trusts are only for wealthy … [Read more...]
Three Mistakes Indianapolis Trust Attorneys Help You Avoid
Trust are a versatile and important estate planning and asset protection tool that Indianapolis trust attorneys can help you to use effectively. Trusts can actually be used to accomplish many different goals, including keeping wealth safe during the course of your life as well as making certain that your heirs or beneficiaries do not end up losing their inheritance due to taxes, irresponsible spending, or a wide variety of other factors. Frank & Kraft can provide you with help in … [Read more...]
The Executor of a Will Should have These Qualities
If you are in the process of creating a will, it won’t be long before you need to answer this question: who will you choose as the executor?Of course, if you’ve created this legal arrangement in the past, you’ve already made this decision. In some cases, even if you already have an executor in place, you may need to make a change. For example, this is necessary in the event that your original executor is no longer able to perform the duties required of him or her.The executor of a will … [Read more...]
Why Contesting a Will is More Difficult Than You Might Think
Have you recently had a loved one pass away, and discovered that he or she left you no inheritance or less than you had been expecting? Do you have reason to believe that someone convinced your loved one to change the will to cut down on your inheritance – or exclude you altogether? Have you been thinking about challenging the will to get your fair share of the estate? If so, you certainly wouldn’t be the first person in history to contemplate such a thing. It’s important for you to know, … [Read more...]
What is a Revocable Trust and How Can It Benefit Your Estate Plan?
When it comes to estate planning, there seems to be three groups of people. The first group includes all those people who have no estate plan in place. Unfortunately, they represent a majority of American adults right now. The second group includes those whose estate plan is focused on a simple will and perhaps a power of attorney or advance directive for health care. The third group – and by far the smallest – consists of those Americans who have an estate plan that includes some type of living … [Read more...]
When is an Irrevocable Trust Right for You?
It’s not uncommon for people who’ve been told that they need a trust to immediately focus their attention on a revocable trust. In some cases, it’s just because they’re unaware that other trusts exist. In other instances, they’ve heard of irrevocable trusts but are more than a little leery about giving up total control over trust assets forever. While that concern is certainly valid, the fact is that there are times when an irrevocable trust is really the best way to accomplish certain goals. Of … [Read more...]
A Simple Will is Never Enough
Apart from death and taxes, there are few real absolutes in life. For individuals who truly want to protect their interests and their families, however, estate planning can be said to be an absolute necessity. Oh sure, there are many people who never get around to organizing their affairs and preparing for the future, but that doesn’t mean that they shouldn’t do so. The fact is that a well-conceived estate plan can be essential for protecting your assets, avoiding problems related to incapacity, … [Read more...]
Recognizing the Benefits of Estate Planning Trusts
The desire to protect wealth and pass it on to one’s heirs has been around since ancient times. Though they may have differed with respect to their ambitions, kings, nobles, and commoners all shared a common desire to secure some type of legacy for their children and other heirs. That desire remains a motivating force for many millions of people in modern times. The difference is that we no longer squirrel away our legacy treasures in royal vaults or hidden corners of our cottages. Instead, we … [Read more...]
Do it Yourself (DIY) Wills: Will They Actually Cost You More in the End?
If you’re like most people, you may not be aware that only about 45% of all Americans have made out a Last Will and Testament. Given the important role that estate planning plays in end-of-life decisions, that number should come as a shock. Even among those who have created wills, a surprisingly large number of them have written the documents on their own – either from scratch or using one of those free or low-cost do-it-yourself Last Will and Testament forms you can find online. This can … [Read more...]
Wills vs. Trusts: The Verdict is In
If you are considering your estate planning options and find yourself confused by all of the debate about wills and trusts, you’re not alone. There is nothing easy about planning for your own death, and that process is made even more difficult when you have to struggle to find clear, unbiased information about the options available to you. By now, you probably understand that you will need to use at least one of these two options to ensure a smooth transfer of your assets when you die. The … [Read more...]
