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
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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?
How to Handle an Inheritance Intended for a Problematic Beneficiary
Creating a successful estate plan requires you to make numerous important decisions. While many of those decisions are directly related to who you want to receive your estate assets after you are gone, other decisions will revolve around how to pass down those assets. Simply gifting assets directly to a beneficiary is not always the best choice, especially when dealing with a problematic beneficiary. Whether the beneficiary struggles with addiction, suffers from a mental illness, or simple … [Read more...] about How to Handle an Inheritance Intended for a Problematic Beneficiary
Will I Still Have Control Over Assets If I Transfer Them into a Trust?
A trust agreement is among the most popular additions to the average estate plan. If you are contemplating the addition of a trust to your estate plan, you probably have several questions about trusts and about the benefits of establishing one. You may also be concerned about your ability to control assets after they are transferred into a trust. To help you better understand how a trust fits into your estate plan, the Indianapolis trust attorneys at Frank & Kraft discuss whether you will … [Read more...] about Will I Still Have Control Over Assets If I Transfer Them into a Trust?
How Does Life Insurance Fit into My Estate Plan?
Like most people, you probably purchased your first term life insurance policy when you started your first “adult” job. Since then, you may have purchased additional term life insurance policies, purchased a different type of life insurance, and/or increased the death benefit on your original policy. Because life insurance often plays an integral role within an estate plan, the Indianapolis attorneys at Frank & Kraft discuss how life insurance fits into your estate plan. Types of Life … [Read more...] about How Does Life Insurance Fit into My Estate Plan?
Will Medicaid Pay a Family Member to Care for Me in Indiana?
If you are an older individual who is struggling with the physical and/or mental deterioration that accompanies the aging process, you likely want to avoid the need to leave your home and move into a long-term care facility. If you are fortunate, you may have a family member who is willing to provide care; however, doing so may cause your family member to suffer financial hardship. The good news is that Medicaid may offer a solution. An Indianapolis Medicaid planning attorney at Frank & … [Read more...] about Will Medicaid Pay a Family Member to Care for Me in Indiana?
