When an individual passes away, their assets, including any real estate, usually go through the legal process known as probate. This process can complicate access to property for beneficiaries since assets in probate are essentially frozen until the estate is settled. This is particularly significant when the asset in question is a home. An Indianapolis attorney at Frank & Kraft examines the various factors influencing what happens to a home during probate in Indiana and the role of the … [Read more...] about What Happens to a Home During Probate in Indiana?
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Why Would I Create an Intentionally Defective Trust?
When your estate includes substantial assets, minimizing federal gift and estate taxes should be a key consideration in your estate plan. Although it may sound counter-intuitive, one advanced estate planning tool you may find beneficial is an Intentionally Defective Grantor Trust (IDGT). This irrevocable trust is uniquely designed to help transfer wealth to family members during your lifetime while strategically reducing tax liabilities. To help you understand, the Indianapolis attorneys at … [Read more...] about Why Would I Create an Intentionally Defective Trust?
National Love Your Pet Day Is a Great Time to Work on Pet Planning in Your Estate Plan
National Love Your Pet Day, celebrated on February 20th, is a perfect opportunity to celebrate the animals that bring joy and companionship into your life. Pets often feel like family, and for devoted pet owners, ensuring their care in any situation is essential. This special day is a reminder to consider how you can protect your pet’s future by incorporating pet planning into your estate plan. The Indianapolis attorneys at Frank & Kraft encourage you to celebrate National Love Your Pet Day … [Read more...] about National Love Your Pet Day Is a Great Time to Work on Pet Planning in Your Estate Plan
How to Get Involved in American Heart Month in Indiana
Every February, American Heart Month serves as a crucial reminder of the importance of heart health given that heart disease remains the leading cause of death in the United States, making awareness and preventive measures essential. If you live in Indiana, there are many ways to participate in American Heart Month, whether through education, community involvement, fundraising, or lifestyle changes. This year, the Indianapolis attorneys at Frank & Kraft urge you to get involved in American … [Read more...] about How to Get Involved in American Heart Month in Indiana
Is a Beneficiary Defective Inheritance Trust Right for Your Estate Plan?
Anyone who owns and operates a small business knows how hard it is to keep a business running and showing a profit year after year. If you own a small business that you intend to pass down to the next generation upon your death, incapacity, or retirement, business succession planning is crucial to ensure a smooth transition. An Indianapolis attorney at Frank & Kraft explains how a Beneficiary Defective Inheritance Trust (BDIT) might be able to help with your business succession … [Read more...] about Is a Beneficiary Defective Inheritance Trust Right for Your Estate Plan?
Advantages of Adding a Living Will to Your Indiana Estate Plan
When creating your estate plan, it is essential to include more than just provisions for distributing your assets. A comprehensive estate plan can also protect your preferences and ensure your wishes are respected while you are still alive. Including advance directives, such as a Living Will, in your estate plan allows you to make your healthcare decisions known if you are ever unable to make or communicate them. To better understand its importance, the Indianapolis attorneys at Frank & … [Read more...] about Advantages of Adding a Living Will to Your Indiana Estate Plan
Understanding Probate Litigation in Indiana
Probate litigation in Indiana encompasses the legal challenges that arise during the administration of a deceased individual’s estate, particularly when disputes surface regarding the distribution of assets. Engaging in probate litigation can feel overwhelming, particularly for those unfamiliar with the process. To shed light on this complex area of law, the Indianapolis attorneys at Frank & Kraft offer an overview of probate litigation in Indiana. What Is Probate? Probate is the … [Read more...] about Understanding Probate Litigation in Indiana
Legacy Planning: Creating a Lasting Impact Through Your Estate Plan
When considering estate planning, many people focus solely on distributing financial assets; however, your legacy encompasses far more than money or property. Legacy planning goes beyond the tangible and allows you to pass down values, life lessons, and cherished memories to future generations. The Indianapolis attorneys at Frank & Kraft explain how you can create a lasting impact by incorporating legacy planning in your estate plan. What Makes Up Your Legacy? Your legacy includes both … [Read more...] about Legacy Planning: Creating a Lasting Impact Through Your Estate Plan
Do I Need to Respond to a Crummey Notice?
One of your rights as a trust beneficiary is the right to receive important communications from the Trustee about the trust’s administration. Among the communications you might receive is a document called a “Crummey Notice.” This notice serves to inform you of your rights regarding assets newly added to the trust. Understanding what a Crummey Notice represents and knowing how to respond appropriately are essential to protecting your interests as a trust beneficiary. With that in mind, the … [Read more...] about Do I Need to Respond to a Crummey Notice?
How to Incorporate Charitable Gifts into Your Estate Plan
The holidays are a great time to review your estate plan and incorporate charitable gifts into that plan, allowing you to leave a legacy that reflects your values and supports causes you care about. Whether you want to donate to a local organization, a religious institution, or a global nonprofit, planning your charitable gifts ensures that your contributions are meaningful and effective. With that goal in mind, the Indianapolis attorneys at Frank & Kraft offer suggestions for how you can … [Read more...] about How to Incorporate Charitable Gifts into Your Estate Plan
