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Living with Alzheimer’s: Coping Strategies for Patients and Caregivers

August 29, 2023General

Alzheimer’s strategies caregivers

More than six million Americans are currently living with Alzheimer’s disease and that number is expected to double by 2050. The odds are good that you or someone close to you will develop Alzheimer’s during your lifetime. Knowing that, it makes sense to learn what you can about the disease. To help you get started, an Indianapolis attorney at Frank & Kraft discusses coping strategies for patients and caregivers living with Alzheimer’s disease. What Is Alzheimer’s Disease? Although … [Read more...] about Living with Alzheimer’s: Coping Strategies for Patients and Caregivers

The Art of Estate Planning: Ensuring Your Wishes Are Honored

August 22, 2023Estate Planning

Estate planning wishes honored

While planning for the distribution of your estate assets is an integral part of any estate plan, a comprehensive estate plan can do much more. In fact, one of the most important things an estate plan can do for you is to ensure that your wishes are honored throughout your life and even after you are gone. To help you better understand, the Indianapolis estate planning attorneys at Frank & Kraft explain how to ensure that your wishes are honored through the art of estate … [Read more...] about The Art of Estate Planning: Ensuring Your Wishes Are Honored

Claiming Your Inheritance: Strategies for Beneficiaries Going Through Probate in Indiana

August 17, 2023Probate

Inheritance beneficiaries probate Indiana

When a family member or loved one passes away, there is usually a grieving period that follows. At the same time, there are legal and practical steps that must be taken to administer the decedent’s estate. If you recently lost someone and you have reason to believe you will inherit from the estate, you may be struggling with how to proceed. If so, the Indianapolis probate attorneys at Frank & Kraft discuss claiming your inheritance and strategies for beneficiaries going through probate in … [Read more...] about Claiming Your Inheritance: Strategies for Beneficiaries Going Through Probate in Indiana

What Can and What Cannot Be Used to Fund a Revocable Living Trust?

August 15, 2023Revocable Living Trusts in Indiana

Fund revocable living trust

Many people choose to include a revocable living trust in their estate plan. If you are among them, you will need to fund the trust that you create. That means you need to understand what assets should and should not be transferred into your trust and what you need to do to effectuate those transfers. Toward that end, the Indianapolis trust attorneys at Frank & Kraft explain what can and what cannot be used to fund a revocable living trust. What Is a Revocable Living Trust? A trust is … [Read more...] about What Can and What Cannot Be Used to Fund a Revocable Living Trust?

What Are the Benefits of Working with an Estate Planning Attorney?

August 10, 2023Estate Planning

Benefits estate planning attorney

In the 21st century, we are all accustomed to finding just about anything we are looking for with a quick internet search. It can be tempting to google your medical symptoms instead of consulting a physician or rely on fill-in-the blank legal forms instead of working with an experienced attorney. To discourage you from doing the latter, the Indianapolis estate planning attorneys at Frank & Kraft explain several of the numerous benefits of working with an estate planning attorney. What Is … [Read more...] about What Are the Benefits of Working with an Estate Planning Attorney?

When Does a Successor Trustee Take Over?

August 8, 2023Trust

Successor Trustee take over

One of the most useful tools found in the average estate plan is a trust agreement. If you decide to incorporate a trust into your estate plan, you will need to appoint a Trustee. It is also wise to appoint a successor Trustee. To help you understand why appointing a successor Trustee is important, the Indianapolis trust administration attorneys at Frank & Kraft explain under what circumstances a successor Trustee might take over the administration of a trust. What Is a Trust? A trust … [Read more...] about When Does a Successor Trustee Take Over?

What You Need to Know about the Indiana Transfer on Death Property Act

August 3, 2023Estate Planning

For many people, the primary motivation for creating an estate plan is the desire to provide for loved ones in the event of death. Along with ensuring that your estate assets are passed down to your designated beneficiaries, a well thought out estate plan can also help make sure your beneficiaries receive those assets as soon after your death as possible. As the Indianapolis estate planning attorneys at Frank & Kraft explain, making use of the Indiana Transfer on Death Property Act is one way to transfer assets quickly after your death. The Problem with Probate If you have a spouse, children, parents, or other loved ones who financially depend on you, an important estate planning goal is to ensure that your loved ones have access to much-needed assets as soon as possible after you are gone. Unfortunately, probate can drag out the time it takes for beneficiaries to receive assets. Probate is the legal process that is often required following a death. While the ultimate goal of probate is to transfer assets to beneficiaries and/or heirs of the estate, several steps must be completed first. For example, creditors of the estate must be notified and provided with the opportunity to file claims against the estate. Any challenges to the validity of the Will must also be litigated before assets can be released. It can take months, even years, for assets to finally be released to the new owners if those assets have to go through probate. One of the many estate planning strategies available to help your estate avoid probate in the State of Indiana is the use of Transfer on Death Property Act. What Is the Indiana Transfer on Death Property Act? The Transfer on Death Property Act (TDPA) can be found at Indiana Code 32-17-14 et. seq. The overall purpose of the TDPA is to allow the owner of real property to transfer his/her legal interest in that property to a designated beneficiary or beneficiaries at the time of death. When interest in property is transferred using the TDPA the property does not have to go through probate, meaning the beneficiary takes ownership of the property immediately following the death of the previous owner. Because people are often familiar with the “Payable on Death (POD)” option offered on financial accounts, it may be beneficial to think of a transfer on death property deed as similar to a POD designation on a bank account. When you designate a bank account, for example as a POD account you name a beneficiary. Immediately after your death, ownership of the bank accounts legally transfers to the beneficiary without the need for legal action. It is important to note that with a TOD deed or a POD account, the designated beneficiary has no legal ownership interest in the asset prior to the death of the owner. This is the primary difference between owning assets jointly and a TOD/POD designation. When you jointly own property or other assets, the co-owner has a present legal ownership interest in the asset. For example, if you and your spouse own real property jointly with rights of survivorship, your ownership interest in the property will automatically transfer to your spouse upon your death, just as with a TOD deed; however, your spouse also has an equal ownership interest in the property while you are alive. If you used a Transfer on Death deed instead of joint ownership, your ownership interest in the property would pass to your spouse upon your death; however, he/she would have no legal ownership interest in the property while you are alive. For a Transfer on Death deed to be valid, it must be executed by the owner of the real property, or their legal representative, and be recorded in the county where the real property is located. Upon the death of the property owner, the designated beneficiary takes legal ownership of the property without the need for the property to pass through probate. Contact Indianapolis Estate Planning Attorneys For more information, please join us for an upcoming FREE seminar. If you have additional questions or concerns about how to incorporate the Indiana Transfer on Death Property Act into your estate plan, contact the experienced Indianapolis estate planning attorneys at Frank & Kraft by calling (317) 684-1100 to schedule an appointment.

For many people, the primary motivation for creating an estate plan is the desire to provide for loved ones in the event of death. Along with ensuring that your estate assets are passed down to your designated beneficiaries, a well thought out estate plan can also help make sure your beneficiaries receive those assets as soon after your death as possible. As the Indianapolis estate planning attorneys at Frank & Kraft explain, making use of the Indiana Transfer on Death Property Act is one … [Read more...] about What You Need to Know about the Indiana Transfer on Death Property Act

What Seniors Need to Know about Medicaid in Indiana

August 1, 2023Medicaid

Seniors Medicaid Indiana

Regardless of good genes and a healthy lifestyle, we all succumb to the natural aging process eventually. For many of us, that means our healthcare expenses increase during our “Golden Years.” Although most seniors rely on Medicare to cover basic healthcare expenses, not everyone qualifies for Medicare and Medicare doesn’t cover all healthcare expenses. Consequently, there is a good chance that you (or a spouse) will need help paying for healthcare expenses as a senior. Medicaid may be able to … [Read more...] about What Seniors Need to Know about Medicaid in Indiana

What Are Some Good Estate Planning Questions to Ask Myself?

July 27, 2023Estate Planning

Estate planning questions

The prospect of sitting down and creating an estate plan can be daunting for many people. In fact, about half of all Americans do not have an estate plan in place, often because they find the entire concept to be intimidating. If you are ready to get started with your estate plan, but you are not sure where to start, the Indianapolis estate planning attorneys at Frank & Kraft suggest that you start by asking yourself some important estate planning questions. Estate Planning Can Be … [Read more...] about What Are Some Good Estate Planning Questions to Ask Myself?

How Do I Prove Elder Abuse?

July 25, 2023Elder Law

Prove elder abuse

If you have an elderly parent, grandparent, or another loved one who is being cared for in a long-term care facility or by an in-home caregiver, you undoubtedly worry about the quality of the care they are receiving. If you become concerned that your loved one is being abused, that worry escalates exponentially. Before taking further steps, however, you need to confirm your suspicions. With that in mind, the Indianapolis elder law attorneys at Frank & Kraft discuss how to prove that a loved … [Read more...] about How Do I Prove Elder Abuse?

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