WAEstate

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...]

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...]

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...]

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...]

 If you recently learned that you were appointed to be the Trustee of a trust, and this is the first time you have served as a Trustee, you probably have a number of questions. At the top of that list may be your concerns over the possibility of being held personally liable if you make a mistake. To help you better understand your role as Trustee, the Carmel trust administration attorneys at Frank & Kraft explain when a Trustee can be held personally liable for mistakes. What Does … [Read more...]

A trust is among the most common additions to a comprehensive estate plan. Every trust must have a Trustee, appointed by the creator of the trust, who is responsible for administering the trust. Administering a trust is often a complex and time-consuming job – something that many first-time Trustee’s don’t find out until after accepting the appointment.  In fact, given the financial and legal skills frequently required to successfully administer a trust, it is often wise to appoint a … [Read more...]

An irrevocable trust is a specific type of trust that you can create. When you make an irrevocable trust, you lose control over the assets that you transfer to the trust. You can't just change or modify the trust at will, and you can't end the trust whenever you want to. You also no longer own the assets that you have put into the irrevocable trust -- the trust is the owner of the money or property.  The loss of control over your wealth is what makes an irrevocable trust a valuable asset … [Read more...]

Understanding the laws applicable to wills and probate is very important both when you are making an estate plan and when your loved one has passed away. It is especially essential to know that when assets are left to heirs or beneficiaries in a will, those assets typically must pass through the probate process. The probate process can be a time consuming and costly one, so those who are going through probate should make certain they're represented by a compassionate and knowledgeable … [Read more...]

There are certain circumstances when you may decide that you need to contest a will. Contesting a will is a very serious decision to make, and there are many legal steps involved if you want to successfully argue that a will should not be probated because it does not accurately reflect the wishes of the deceased. If you are considering contesting a will, it is a good idea to talk with an experienced attorney first. Frank & Kraft can provide you with insight into the reasons why wills are … [Read more...]

Carmel trust attorneys can help you with creating a trust so you can use this important and versatile legal tool to protect your assets and provide a legacy for your loved ones. Creating a trust can be more complicated and costly than creating a last will and testament, so you may wonder why you would bother with trust creation if you could just make a last will and testament to specify who inherits. The reality is that a trust is often better than a will for lots of different reasons, and both … [Read more...]