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?
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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?
The Spendthrift Beneficiary: Protecting Assets from Reckless Spending
A carefully thought out and properly drafted estate plan can accomplish many goals. It can also give you peace of mind knowing that your loved ones will be financially secure if anything happens to you. Sometimes, however, simply handing a beneficiary money or other assets is not a wise idea, especially if that beneficiary has a history or reckless spending. The good news is that your estate plan can address this common problem. To better explain, the Indianapolis attorneys at Frank & Kraft … [Read more...] about The Spendthrift Beneficiary: Protecting Assets from Reckless Spending
How Do I File a Complaint Against a Nursing Home in Indiana?
Making the decision to move a parent, grandparent, or another elderly loved one to a nursing home is not an easy decision. Once the decision has been made, family members often worry about the quality of care their loved one is receiving. Most of the time, those worries are unfounded; however, the harsh reality is that nursing home abuse and neglect happens more often than most people realize. If you believe that an elderly loved one has been abused or neglected, an Indianapolis elder law … [Read more...] about How Do I File a Complaint Against a Nursing Home in Indiana?
Secrecy and Security: Keeping Your Estate Plan Confidential
Some people choose to share the details of their estate plan with loved ones while they are alive. Others prefer to keep those details confidential while alive yet are not concerned about them being made public after their death. Still other people want the details of their estate plan to remain private both while alive and after their death. To ensure that your wishes on the matter are honored, the Indianapolis estate planning attorneys at Frank & Kraft discuss how to keep your estate plan … [Read more...] about Secrecy and Security: Keeping Your Estate Plan Confidential
