Your Last Will and Testament likely serves as the cornerstone of your estate plan; however, it is also likely that you will include additional estate planning tools and strategies into your plan to make sure you achieve all your estate planning goals. One of those additional tools may be a trust. If you choose to include a trust in your estate plan, you will need to decide if that trust will be revocable or irrevocable. An Indianapolis attorney at Frank & Kraft discusses the advantages and … [Read more...] about Advantages and Disadvantages of an Irrevocable Living Trust
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What Is the Difference between a HIPAA Authorization and a Healthcare Power of Attorney?
The ability to make your own healthcare decisions is likely something you take for granted. After all, you have been doing so for your entire adult life, right? There may come a time, however, when you are unable to make and/or communicate your own decisions because you are incapacitated. If that comes to pass, you need to be prepared. Signing a HIPAA Authorization and executing a Healthcare Power of Attorney are two things you can do to prepare for the possibility of your own incapacity. With … [Read more...] about What Is the Difference between a HIPAA Authorization and a Healthcare Power of Attorney?
Appointing Co-Trustees: Pros and Cons
A trust is among the most common additions to an estate plan. If you decide to establish a trust, one of the most important decisions you will need to make is who to appoint as the Trustee of your trust. One option is to appoint more than one Trustee. An Indianapolis attorney at Frank & Kraft discusses the pros and cons of appointing Co-Trustees. Trust Basics A trust is a legal arrangement that involves a Settlor (the creator of the trust) who appoints a Trustee to protect and manage … [Read more...] about Appointing Co-Trustees: Pros and Cons
Honoring a Caregiver for National Family Caregivers Month
Experts predict that by 2050 the number of older Americans (65 and older) will surpass the number of younger Americans (21 and younger) for the first time in history. Currently, there are over 50 million people providing unpaid care to a family member or loved one in the United States. If you are one of them, your caregiving undoubtedly affects you and your immediate family in a variety of ways. It is you, and others like you, who are celebrated during National Family Caregivers Month (NFCM) to … [Read more...] about Honoring a Caregiver for National Family Caregivers Month
How to Pass Down Your Legacy in Your Estate Plan
While ensuring that tangible possessions are handled according to your wishes is typically addressed in a conventional estate plan, your estate planning goals may extend beyond the distribution of physical assets. You might also seek to pass down intangible concepts that transcend material wealth, such as values, principles, convictions, and faith, which have significantly influenced and guided your life. The good news is that you can incorporate these non-material aspects into your estate plan, … [Read more...] about How to Pass Down Your Legacy in Your Estate Plan
What You Need to Know About Older Drivers in Indiana
As we age, we all eventually experience some physical and mental deterioration that comes along with the natural aging process. For some of us, that natural deterioration is more pronounced or may be accompanied by cognitive decline caused by Alzheimer’s or another age-related form of dementia. Noticing your own physical and/or mental decline is never easy. Realizing that it may impact your ability to drive can be downright traumatic for an older individual. Nevertheless, it is important to keep … [Read more...] about What You Need to Know About Older Drivers in Indiana
What Is Undue Influence in an Indiana Will Contest?
If you have recently experienced the loss of someone dear to you, the process of mourning probably continues to play a significant role in your life. At some point in the near future, however, your attention may be drawn to the term of your loved one's Last Will and Testament. What should you do if something about that Will does not sound right to you or if you begin to believe that the terms of that Will are the product of someone’s influence on your loved one? The Indianapolis attorneys … [Read more...] about What Is Undue Influence in an Indiana Will Contest?
How to Make Things Easier for Your Children After Your Death
No one enjoys thinking about the reality of their own eventual death; however, it is just that – a reality. What can be even harder sometimes is thinking about how your loved ones, specifically your children, will handle your death. Even if they are grown adults well into middle age or beyond, your death will have an emotional impact on your children. In addition, they will likely be responsible for handling your affairs after you pass away. To make that easier for them, an Indianapolis attorney … [Read more...] about How to Make Things Easier for Your Children After Your Death
Estate Planning for Single Parents
Every adult can benefit from having a comprehensive estate plan in place. If you are a single parent, however, estate planning is even more important to ensure that your child is protected and provided for if something happens to you. To help you get started, the Indianapolis attorneys at Frank & Kraft discuss estate planning for single parents. Why Do I Need an Estate Plan If I Am a Single Parent? Whether by circumstance or choice, being a single parent can be difficult, yet nothing … [Read more...] about Estate Planning for Single Parents
Why Might My Executor Have to Sell Some of My Estate Assets?
Probate is the name of the legal process that is required to administer your estate after you pass away. One of the best reasons to have at least a basic estate plan in place is to ensure that your assets will be handled how you want them to be handled during the probate of your estate. Sometimes, however, it becomes necessary to sell estate assets during probate even if your wishes included passing those assets down to a loved one. To decrease the likelihood of it happening to your estate, an … [Read more...] about Why Might My Executor Have to Sell Some of My Estate Assets?
