Last Will and Testament Almost one-half of American adults do not have so much as a basic Last Will and Testament in place. In the absence of a Will, the state intestate succession laws decide who will get all of your assets when you pass. For this reason alone, executing a Will should be a top priority. When you create your Will, you will be required to appoint an Executor. After you pass, your Executor will oversee the probate of your estate. Executors play a vital role in ensuring that … [Read more...] about Guidelines for an Executor of an Estate in Indiana
The divorce rate in the U.S. continues to hover around 50 percent for a first marriage. Many of those divorces result in a remarriage, making blended families common in the U.S. If you are part of a blended family, you know the hard work it takes to successfully blend two existing families into one harmonious new family. One thing you don’t want to overlook when creating a blended family is the importance of a having a comprehensive estate plan in place. Toward that end, a Plainfield area estate … [Read more...] about Estate Planning for the Blended Family
When most people think about estate planning, they think about making decisions regarding the distribution of their estate assets when they are gone. While that is certainly an important part of an estate plan, it shouldn’t be the only consideration when you create your estate plan. For example, the impact taxes will have on your plan should also be taken into consideration. An Indianapolis estate planning attorney at Frank & Kraft discusses whether you need to worry about an Indiana … [Read more...] about Does Indiana Have an Inheritance Tax?
You will likely use a simple Last Will and Testament as the foundation for your initial estate plan. Over the course of your lifetime though, your estate and your family may grow, calling for additional estate planning strategies and tools to address that growth. For many people, adding a trust is the next step. You may even decide to rely on that trust as your primary vehicle for the distribution of your estate assets. To help you learn more about both, an Indianapolis estate planning attorney … [Read more...] about Wills and Trusts General Information
Probate avoidance is among the most common of all estate planning goals. If you hope to limit, or even eliminate, your estate’s exposure to the probate, you must plan accordingly. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains five ways to avoid probate. What’s the Big Deal about Probate? When an individual dies, the assets owned by that individual at the time of death make up the decedent’s estate. Probate is the term given to the legal process … [Read more...] about 5 Ways to Avoid Probate
Spending a lifetime amassing assets doesn’t do much good if you don’t then protect those assets from potential threats. Fortunately, there are a number of estate planning tools that can be used to protect assets, including a Domestic Asset Protection Trust (DAPT). To help you better understand, an Indianapolis asset protection planning attorney at Frank & Kraft explains how a DAPT helps protect your assets. DAPT Basics A domestic asset-protection trust (DAPT) is an irrevocable … [Read more...] about What Type of Trust Helps with Asset Protection Planning?
One of the most valuable gifts you can give to your loved ones – and to yourself – is a well drafted and comprehensive estate plan. Not only will it ensure that your wishes are honored regarding your assets after you are gone, but it can also protect you and your family while you are still here. To help make sure you have a successful estate plan in place, an Indianapolis estate planning attorney at Frank & Kraft explains some common estate planning mistakes. Choosing the Wrong … [Read more...] about Common Estate Planning Mistakes
If you have a family pet, you probably consider that pet to be a member of the family. You undoubtedly schedule regular visits to the veterinarian to make sure your beloved pet is healthy and happy as well as make plans for your pet’s care when you leave town. One thing you may not have done yet though is include your family pet in your estate plan. As part of the family though, your pet should be included in your plan. An Indianapolis estate planning attorney at Frank & Kraft discuss how to … [Read more...] about How to Include Your Pet in Your Estate Plan
Creating a comprehensive estate plan is one of the most valuable gifts you can give to yourself and to your loved ones. An estate plan that functions as intended will protect your assets and help them grow over the course of your lifetime as well as ensure that your loved ones are provided for in the event of your death or incapacity. If you have an estate plan in place already, however, you are not done yet because reviewing and revising your existing estate plan is just as important as … [Read more...] about Estate Plan Updates for Seniors
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 first understand … [Read more...] about What Is a Crummey Notice?