Nursing homes are meant to provide a safe and supportive environment for elderly residents and while many facilities do offer quality care, instances of abuse and neglect also occur. Recognizing the warning signs and taking action can help protect vulnerable elderly loved ones. With that in mind, the Indianapolis attorneys at Frank & Kraft discuss what you should know about nursing home abuse in Indiana. How Common Is Nursing Home Abuse in Indiana? Elder abuse is a serious issue across … [Read more...] about What You Should Know About Nursing Home Abuse in Indiana
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How to Protect a Personal Injury Settlement with a Special Needs Trust
If you have a child (or another loved one) who relies on government benefits such as Supplemental Security Income (SSI) or Medicaid and who has received a personal injury settlement, protecting that settlement is crucial. Without proper planning, a large sum of money received from a settlement could disqualify an individual from these much-needed benefits. As the Indianapolis attorneys at Frank & Kraft explain, one effective way to safeguard both the personal injury settlement and … [Read more...] about How to Protect a Personal Injury Settlement with a Special Needs Trust
Incorporating the Annual Exclusion into Your Estate Plan
When creating an estate plan, your primary goal is likely to ensure that your assets are distributed according to your wishes after you are gone. Effective estate planning, however, also involves strategies to protect your wealth while you are alive and reduce potential tax liability at death. Without careful planning, estate taxes could take a significant portion of your assets, leaving less for your beneficiaries. Fortunately, the tax code provides several tools to help mitigate this burden. … [Read more...] about Incorporating the Annual Exclusion into Your Estate Plan
How Long Will It Take to Receive an Inheritance in Indiana?
Learning that you are set to receive an inheritance can bring a mix of emotions. While it may represent financial security or sentimental value, it also follows the loss of a loved one. Once you have been informed of your inheritance, a common question often arises. You may wonder how long it will take before you receive your inheritance. To help answer this, the Indianapolis attorneys at Frank & Kraft explain the typical timeline for receiving an inheritance in Indiana. Does Your … [Read more...] about How Long Will It Take to Receive an Inheritance in Indiana?
What Is a Crummey Notice?
Are you a trust beneficiary who recently received a “Crummy notice?” If so, and you have never before received one, you may be unsure what to do next. After all, there must be some reason why you received the notice, right? To help you better understand why you received the notice, an Indianapolis trust attorney at Frank & Kraft explains a Crummey notice and what to do if you received one. Trust Fundamentals To understand the significance of a Crummey Notice you must … [Read more...] about What Is a Crummey Notice?
Developmental Disabilities Awareness Month: Is Your Loved One with Special Needs Protected?
March is recognized as Developmental Disabilities Awareness Month, providing an opportunity to raise awareness and promote inclusion for individuals with disabilities. It also serves as a reminder of the importance of special needs planning, particularly for those who have a loved one with a disability. Proper estate planning can ensure financial security, long-term care, and continued eligibility for essential government benefits. If you live in Indiana and have a family member with special … [Read more...] about Developmental Disabilities Awareness Month: Is Your Loved One with Special Needs Protected?
Should I Share My Estate Plan with Loved Ones?
Creating an estate plan is a crucial step in safeguarding your assets and ensuring that your wishes are honored after your death and even during your lifetime. Once your plan is finalized, however, you may face the challenging question of how much, if any, of your estate plan you should share with your loved ones. This deeply personal decision will likely be affected by numerous factors, not the least of which will be significant family dynamics or conflicts. With this in mind, the Indianapolis … [Read more...] about Should I Share My Estate Plan with Loved Ones?
How Does Portability Fit into Your Indiana Estate Plan?
Portability is an important yet often overlooked aspect of federal gift and estate tax planning. It allows a surviving spouse to make use of their deceased spouse’s unused estate tax exclusion, potentially reducing or even eliminating federal estate taxes upon their own death; however, it can overfund the surviving spouse’s estate. Understanding how portability works and how it fits into your estate plan can help ensure that your assets are protected and passed down efficiently to your heirs. An … [Read more...] about How Does Portability Fit into Your Indiana Estate Plan?
5 Trustee Mistakes You Can Avoid Making
If you recently learned that you were appointed to serve as the Trustee of a trust, and have never served in the position before, you may be feeling a bit overwhelmed. While it is perfectly normal to be intimidated at the prospect of administering a trust, it is equally crucial to avoid common mistakes that can lead to disputes, financial loss, or even legal consequences. With that in mind, the Indianapolis attorneys at Frank & Kraft explain the top five mistakes Trustees make and how you … [Read more...] about 5 Trustee Mistakes You Can Avoid Making
Should I Include an Asset Protection Trust in My Indiana Estate Plan?
An essential component of estate planning involves not only acquiring wealth but also ensuring its protection. Even the most meticulously crafted estate plan can fail if the assets it encompasses are not adequately safeguarded. One effective way to protect assets from potential risks is through an asset protection trust (APT). To help you decide if an APT is right for you, the Indianapolis attorneys at Frank & Kraft explain the structure, advantages, and various types of asset protection … [Read more...] about Should I Include an Asset Protection Trust in My Indiana Estate Plan?
