When you think about estate planning, your mind likely goes to what happens after your death. It is important for your estate plan to outline what becomes of your assets after you are gone; however, it is equally crucial to prepare for the possibility of becoming incapacitated during your lifetime. By doing so, you not only safeguard your assets but also ensure that your healthcare preferences are respected. To help get you started, the Indianapolis attorneys at Frank & Kraft explain why … [Read more...] about Does Your Estate Plan Include Incapacity Planning?
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10 Reasons to Include a Revocable Living Trust in Your Estate Plan
Trusts are an increasingly popular estate planning tool found in the average estate plan. Trusts are broadly categorized as testamentary or living with living trusts further classified as revocable or irrevocable. Including a revocable living trust in your estate plan can be a strategic move that can help you achieve a variety of estate planning goals. To better help you understand the benefits, the Indianapolis attorneys at Frank & Kraft explain 10 reasons to include a revocable living … [Read more...] about 10 Reasons to Include a Revocable Living Trust in Your Estate Plan
Why A Recent College Graduate Needs an Estate Plan
Estate planning is often seen as something only older adults or those with significant assets need to worry about, which is unfortunate because estate planning is equally important for young adults, especially those graduating from college. As you embark on a new chapter of independence and responsibility, creating an estate plan ensures that your wishes are honored, and your loved ones are safeguarded. To get you started, the Indianapolis attorneys at Frank & Kraft explain why a recent … [Read more...] about Why A Recent College Graduate Needs an Estate Plan
Estate Planning Strategies to Help Avoid Gift and Estate Taxes
When it comes to estate planning, your goals should include protecting your estate assets both during your lifetime and during the probate of your estate. One way to do that is to minimize or avoid federal gift and estate taxes. These taxes can significantly reduce the value of the estate you plan to pass down to loved ones; however, there are a variety of estate planning tools and strategies that can help. To get you started, the Indianapolis attorneys at Frank & Kraft explain some common … [Read more...] about Estate Planning Strategies to Help Avoid Gift and Estate Taxes
Is It Time to Review Your Trust Agreement?
Trust agreements play a crucial role in many comprehensive estate plans giving the versatile and flexible nature of a trust. If you have a trust agreement in place, it is important to update it periodically to ensure it continues to meet your needs. While it is always best to work closely with an experienced estate planning attorney, the Indianapolis attorneys at Frank & Kraft explain common reasons to review a trust agreement. Routine Updates Conducting regular reviews with your … [Read more...] about Is It Time to Review Your Trust Agreement?
The Importance of Updating Fiduciaries in Your Estate Plan
A comprehensive and well thought out estate plan can protect you, your assets, and your loved ones throughout your lifetime and after you pass away. Creating your initial estate plan is a crucial first step; however, estate planning is something that is ever truly finished. For your estate plan to work as intended, you need to review and revise your plan from time to time. One crucial aspect of estate planning that frequently gets overlooked is the updating of fiduciaries. Fiduciaries play an … [Read more...] about The Importance of Updating Fiduciaries in Your Estate Plan
Indiana Probate: What a Beneficiary Needs to Know
Accessing an inheritance can be a complex process, often initiated during a period of mourning and reflection following the passing of a loved one. In the middle of your grief, the practical steps required to obtain what has been left to you may eventually become a focal point. To help you better understand Indiana probate, the Indianapolis attorneys at Frank & Kraft explain what a beneficiary needs to know. What Is Indiana Probate? When an individual passes away, they leave behind an … [Read more...] about Indiana Probate: What a Beneficiary Needs to Know
Integrating Business Succession Planning into Your Estate Plan
One aspect of estate planning that is often overlooked or underestimated is business succession planning. For business owners, ensuring the smooth transition of their enterprise after they pass away is not just prudent, it is essential for preserving their legacy and ensuring their hard-earned wealth continues to benefit their loved ones and employees in their absence. To help you better understand, the Indianapolis attorneys at Frank & Kraft discuss integrating business succession planning … [Read more...] about Integrating Business Succession Planning into Your Estate Plan
An Overview of Adult Guardianship in Indiana
As your parents age, you may notice the signs of physical and/or mental deterioration. You may even reach a point at which you are concerned that a parent cannot safely remain alone without some type of supervision and/or cannot safely make financial decisions. Adult guardianship may be the best option if you are concerned about your parent’s physical, emotional, or financial safety. In Indiana, the guardianship process is designed to protect the rights and well-being of vulnerable adults, … [Read more...] about An Overview of Adult Guardianship in Indiana
8 Steps to Take When Probating an Indiana Estate
When a loved one passes away, their estate is typically required to go through the legal process known as “probate.” Probate involves the administration of the decedent’s estate, ensuring debts are paid, and distributing assets to heirs. If you are in charge of probating an estate in Indiana, you may feel overwhelmed. To help get you started, the Indianapolis attorneys at Frank & Kraft offer eight steps to take when probating an Indiana estate. Step 1: Determine If Formal Probate Is … [Read more...] about 8 Steps to Take When Probating an Indiana Estate
