As the beneficiary of a trust, you are entitled to benefit from the assets held by the trust. You are dependent, however, on the Trustee to distribute those assets to you. The Trustee, in turn, must abide by the terms of the trust as created by the Grantor (creator) of the trust. What happens if you believe those terms are unfair, illegal, impossible, or that the trust agreement is otherwise problematic? Can you contest the trust? The Simple answer is “yes,” a trust can be contested. Contesting … [Read more...] about Understanding the Process of Contesting a Trust in Indiana
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Common Causes for Delays during the Probate of an Estate in Indiana
Probate avoidance is a common estate planning goal – and with good reason. When an estate gets held up in probate it can cost the beneficiaries a considerable amount of time and money. Understanding why an estate might be held up in probate can be helpful when your goal is to avoid probate. With that in mind, the Indianapolis attorneys at Frank & Kraft discuss common causes for delays during the probate of an estate in Indiana. What Causes Probate Delays in Indiana? Probate delays in … [Read more...] about Common Causes for Delays during the Probate of an Estate in Indiana
Essential Asset Protection Strategies in Your Estate Plan
Estate planning is not solely about passing on your assets to your loved ones; it is also about ensuring that what you have worked hard to accumulate is safeguarded for future generations. Asset protection within your estate plan is a crucial aspect that often gets overlooked. Many people focus on Wills and trusts but fail to consider the potential risks that could jeopardize their wealth. Lawsuits, creditors, taxes, and even in-laws can threaten your assets and diminish your estate. With that … [Read more...] about Essential Asset Protection Strategies in Your Estate Plan
Understanding Gift and Estate Taxes: A Comprehensive Guide
Whether you are creating your own estate plan or managing the affairs of a recently deceased family member, familiarity with gift and estate taxes is crucial. These taxes, imposed by both federal and certain state governments, can significantly impact an estate's assets. Having a grasp of their workings is vital to safeguarding valuable assets. With that in mind, the Indianapolis attorneys at Frank & Kraft offer a comprehensive guide to understanding gift and estate taxes. Federal Gift … [Read more...] about Understanding Gift and Estate Taxes: A Comprehensive Guide
Avoid These Common Estate Planning Mistakes
Estate planning is a crucial aspect of financial management that ensures your assets are distributed according to your wishes after you pass away. Many people, however, make avoidable mistakes that can lead to unintended consequences, delays, and unnecessary expenses for their heirs. To help you avoid making them, the Indianapolis attorneys at Frank & Kraft discuss common estate planning mistakes. Procrastination One of the most common mistakes people make is procrastinating on estate … [Read more...] about Avoid These Common Estate Planning Mistakes
What Transpires with a Residence during Probate?
Upon an individual's demise, their assets and property typically undergo the legal procedure called "probate." Because assets involved in probate are essentially frozen, those assets are often inaccessible to the intended beneficiaries until the probate process concludes. This can pose a challenge when the asset in question is a home. The Indianapolis attorneys at Frank & Kraft discuss what transpires with a residence during probate. Understanding Probate Probate is the legal mechanism … [Read more...] about What Transpires with a Residence during Probate?
How to Safeguard Your Assets from Being Inherited by Your Child’s Spouse
If you have children, your estate plan likely designates some or all your assets to be passed on to them in the event of your demise. This arrangement is intended to secure the familial continuity of the assets you've accrued over your lifetime. While that is certainly a lofty and admirable goal, have you considered the possibility that your adult child's spouse might end up with the assets intended for your child? To better explain, the Indianapolis attorneys at Frank & Kraft discuss how to … [Read more...] about How to Safeguard Your Assets from Being Inherited by Your Child’s Spouse
Common Medicaid Myths Dispelled
Many people make it through their entire working years without ever needing to rely on Medicaid to cover healthcare expenses, only to find that they must turn to Medicaid as a senior. If you are among them, you may mistakenly believe some of the myths and misconceptions about the program. To help clear those up, the Indianapolis attorneys at Frank & Kraft dispel common Medicaid myths. Common Medicaid Myths Do You Have Questions about Medicaid Planning? For more information, please … [Read more...] about Common Medicaid Myths Dispelled
Options for Passing Down Your Home to an Adult Child
As parents age, thoughts about the legacy they'll leave behind often turn toward their family home. For many, passing down their home to their adult child is an estate planning goal. Whether it's to provide financial security, preserve family history, or simply keep the home within the family, there are various ways to accomplish this goal. With that in mind, the Indianapolis attorneys at Frank & Kraft discuss options for passing down your home to an adult child. What Options Do I Have to … [Read more...] about Options for Passing Down Your Home to an Adult Child
What Is Adult Day Care?
Do you have a parent or grandparent who is struggling with the physical and/or mental deterioration that comes along with the aging process but who does not warrant the around-the-clock care offered by a nursing home? If so, adult day care may be the solution. To help you better understand your options, the Indianapolis attorneys at Frank & Kraft explain the different types of adult day care. Adult Day Care Explained Senior centers have been around for decades, offering older adults a … [Read more...] about What Is Adult Day Care?
