Most people are aware of the fact that the baby boomer generation is reaching the typical retirement age at the present time. This is resulting in huge numbers of people being faced with the prospect of putting their working years behind them. Statistics are indicating that a high percentage of these individuals are really not ready to retire, and many of them will never be able to do so because they do not have sufficient financial resources. One of the problems is a misconception … [Read more...] about What Separates Those Who Retire From Those Who Can't?
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Gibb Family Must Remain Patient During Probate
When you use a last will to direct the transfer of your assets the heirs to the estate do not receive their inheritances until the estate has been probate and closed. In simple cases it can take months for the process to run its course. When more complicated circumstances exist it can actually take years. This time consumption is one of the major reasons why people avoid probate. With the above in mind the case of the recently deceased singer Robin Gibb is an interesting case in … [Read more...] about Gibb Family Must Remain Patient During Probate
Indianapolis Living Trust Report Available for Download
Here at Frank & Kraft we are sincerely committed to providing members of the community with good estate planning information. We go about this in a number of different ways, and one of them is by passing along a steady stream of useful knowledge on this blog. We also conduct outreach efforts throughout the area in the form of our free seminars. In fact, there are a number of seminars coming up in January and we will pass along the details shortly. In addition to the above … [Read more...] about Indianapolis Living Trust Report Available for Download
MetLife Releases 2012 Long-Term Care Survey Results
The results of the brand-new 2012 MetLife Mature Market Institute survey on the state of long-term care costs have been made public. Not surprisingly, the cost of residence in nursing homes and assisted living communities throughout the United States continues to rise. Before we share some of the statistics we would like to emphasize how important it is to plan ahead for these potential expenses. Medicare will not pay for an extended stay in a nursing home or assisted living … [Read more...] about MetLife Releases 2012 Long-Term Care Survey Results
Our Report on Wills Now Available for Download
One of the foundational elements to consider when you are taking stock of your legacy would be the vehicle or vehicles of asset transfer that you intend to utilize. There are many choices, but the most common one is the last will. These documents are pretty well understood as a way to state your final wishes in a manner that may seem rather simple and straightforward. However, last wills are not as elementary as you might think. There are websites out there claiming that anyone … [Read more...] about Our Report on Wills Now Available for Download
Engage Elder Law Attorney Before Signing Nursing Home Agreements
Sometimes you hear about a court case that has profound elder law significance, and we recently came across a 2011 decision that is quite instructive to those who are preparing to enter into nursing home agreements. The case that we are referring to is the matter of Cook Willow Health Center v. Judy Andrien. Ms. Andrien went about the task of having her mother admitted into Cook Willow Health Center, which is a nursing home. When she was filling out the paperwork she entered into an … [Read more...] about Engage Elder Law Attorney Before Signing Nursing Home Agreements
Including Your Grandchildren in Your Estate Plan
Grandparents who want to provide for their grandchildren have a number of options when they are engaged in the process of estate planning. First off we would like to look at the matter of education. Few things are more valuable than a good education, and college tuition is extremely expensive these days. Providing a free education to your grandchildren would certainly be a fine way to extend a hand. The fact is that there can be tax advantages that go along with paying college … [Read more...] about Including Your Grandchildren in Your Estate Plan
Make Necessary Estate Plan Adjustments When Remarrying
Estate planning is an ongoing, dynamic process. As relevant life events take place your existing estate plan must be updated. If you go even a single day without a properly constructed estate plan you are taking a significant risk. And, you will not be around to suffer the consequences. It would be your family members who would pay the price. Getting remarried is one of these life-changing events that can trigger the need for some estate plan adjustments. One thing … [Read more...] about Make Necessary Estate Plan Adjustments When Remarrying
Making Provisions for a Family Member With Special Needs
When you discuss the details of your family dynamic with your estate planning attorney, he or she will be able to make the appropriate recommendations. There is no one set course of action, and it is important to make informed decisions when you are arranging for future asset transfers. If you were to take matters into your own hands and use some type of do-it-yourself legal document to state your final wishes, you may take steps that have unintentional consequences. With this in … [Read more...] about Making Provisions for a Family Member With Special Needs
Charitable Remainder Unitrusts: A Brief Overview
If you want to set up an ongoing income stream for yourself while you simultaneously take steps to provide for your favorite charity, you may want to consider creating a charitable remainder unitrust. With these trusts, you establish a term during which you will receive annual annuity payments that must equal at least 5% and not more than 50% of the fair market value of the trust. When you are establishing the trust you name a charitable beneficiary who would benefit from the trust after … [Read more...] about Charitable Remainder Unitrusts: A Brief Overview
