If you already have an estate plan in place, you are ahead of the majority of Americans. You also likely understand the importance of estate planning and realize the gift you are giving yourself and your family. Your estate plan, however, can only work as intended if it reflects your current needs, wishes, and goals. That means you need to review and update your plan from time to time. Toward that end, the Indianapolis attorneys at Frank & Kraft offer an estate plan review checklist to help … [Read more...] about Estate Plan Review Checklist
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Estate Planning for Military Personnel
Every adult can benefit from having an estate plan in place, but estate planning is even more important for both active and retired military personnel. Along with the heightened risk of death or incapacity you face as a member of the military, you are also entitled to several unique financial benefits that should be included in your estate plan. With that in mind, the Indianapolis attorneys at Frank & Kraft discuss estate planning for military personnel. Basic Estate Plan … [Read more...] about Estate Planning for Military Personnel
Talking to Your Parents about Their Estate Plans: Questions to Ask
For an adult child with aging parents, it can be difficult to broach the subject of estate planning; however, it is also important to do so. A thorough estate plan will not just direct the distribution of assets after your parents pass away but can also protect those assets while they are still alive and ensure that their wishes are honored if they become incapacitated. While it is not necessary for you to know all the details of their estate plans, it is important for you to make sure that they … [Read more...] about Talking to Your Parents about Their Estate Plans: Questions to Ask
Should My Indiana Estate Plan Include a Life Estate?
A comprehensive estate plan aims to accomplish numerous goals that go above and beyond just distributing the creator’s estate assets after he/she is gone. Protecting assets, both during life and after death, should be one of those additional goals. The way in which you hold legal title to real property can directly impact your ability to achieve that goal. With that in mind, an Indianapolis attorney at Frank & Kraft discusses whether you should include a life estate in your Indiana estate … [Read more...] about Should My Indiana Estate Plan Include a Life Estate?
Indiana Trust Administration Tips for the Trustee
A trust agreement is often included in a comprehensive estate plan. When a trust is established, the individual responsible for its creation (the “Settlor”) must designate a Trustee. The primary responsibilities of a Trustee include managing the trust assets and administering the trust using the terms found in the trust agreement. If you recently discovered that you were chosen to be the Trustee of a trust, the idea of taking on this role may seem a little overwhelming. While there is no … [Read more...] about Indiana Trust Administration Tips for the Trustee
Getting a Loved One into a Nursing Home: Petitioning for Guardianship in Indiana
Watching an elderly loved one succumb to Alzheimer’s, or even to the natural physical and mental deterioration that comes with aging, can be extremely difficult. Family members often become caregivers to allow the loved one to remain in his/her home; however, there may come a time when an elderly loved one needs the type of care that can only be provided in a nursing home. What can you do though if your loved one resists the move? An Indianapolis attorney at Frank & Kraft discusses getting a … [Read more...] about Getting a Loved One into a Nursing Home: Petitioning for Guardianship in Indiana
Can I Disinherit My Spouse in Indiana?
One of the primary motivations for creating an estate plan is the knowledge that you will be able to decide who inherits from your estate. For most married couples, estate planning entails figuring out how to ensure that the surviving spouse does receive the assets of a deceased spouse. But what if you do not want your spouse to inherit from your estate? The Indianapolis attorneys at Frank & Kraft discuss whether you can disinherit your spouse in Indiana. Estate Planning Benefits: Control … [Read more...] about Can I Disinherit My Spouse in Indiana?
What Happens to Cryptocurrency after You Die?
Not all that long ago, there was little need to define what was meant by “assets” when it came time to create an estate plan. In the 21st century, however, your “assets” can be a bit more difficult to define. In today’s digital world, some of your most expensive “assets” are not things you can see or feel. Cryptocurrency, for example, can be extremely valuable; however, it can also be difficult to understand, making it a challenge to include in your estate plan. With that in mind, the … [Read more...] about What Happens to Cryptocurrency after You Die?
Estate Planning Myths: What You Think You Know May Hurt You
Hopefully, you are already aware of the importance of having a comprehensive estate plan in place. A well thought out estate plan can protect you, your assets, and your loved ones both while you are alive and after you are gone. Relying on some common estate planning myths relating to what happens after you die, however, can cause your estate plan to fail. With that in mind, the Indianapolis attorneys at Frank & Kraft debunk some common estate planning myths to help prevent you from relying … [Read more...] about Estate Planning Myths: What You Think You Know May Hurt You
How Does a QLAC Fit into My Estate Plan?
The average life expectancy for an American has almost doubled since the turn of the 20th century. While few people would argue that living longer is desirable, particularly if you are in good health, the harsh reality is that living longer also means that your money must last longer. One way to make your money stretch is to use a Qualified Longevity Annuity Contract (QLAC). To further explain, an Indianapolis attorney at Frank & Kraft discusses how a QLAC might fit into your estate … [Read more...] about How Does a QLAC Fit into My Estate Plan?
