For most people, the first estate planning document they create is a Last Will and Testament. When you create your Will, your focus will likely be on the gifts you make to loved ones in your Will. While the distribution of your estate assets is certainly an important aspect of creating your Will, the appointment of an Executor is also important. In fact, your choice of Executor is probably much more important than you realize. A Carmel estate planning attorney at Frank & Kraft offers five … [Read more...] about Top 5 Reasons to Choose Your Executor Wisely
For many people, life insurance plays an integral role in their estate plan. Exactly what role it plays, and how much life insurance is necessary, can be difficult to determine though. Moreover, both the type and amount of life insurance you need can change over the course of your lifetime.An Indianapolis estate planning attorney at Frank & Kraft helps you decide what type and how much life insurance is right for you. Not All Life Insurance Is Created Equal Deciding how much … [Read more...] about How Much Life Insurance Do I Need?
Although once used almost exclusively by wealthy families, trusts are now commonly found in the average person’s estate plan. If you are contemplating the addition of a trust to your estate plan, it is important that you choose the right Trustee to administer that trust. Understanding the trust administration process a little bit better may help you choose the right Trustee. Toward that end, an Indianapolis trust administration attorney at Frank & Kraft explains what is involved in … [Read more...] about What Is Trust Administration?
As we age, so do our parents. If you are an adult child who has reached the point where you are now providing care for an aging parent, you may also be feeling a bit overwhelmed. No matter how well-intentioned you may be, caring for an elderly parent can become too much at times. According to a Carmel elder law attorney at Frank & Kraft, a geriatric care manager may be the solution. Caregiver Facts and Figures If you are the primary caregiver for an elderly parent (or other loved one), … [Read more...] about Do I Need a Geriatric Care Manager?
Before you decide to use a Do-It-Yourself form to create your Last Will and Testament, you should understand who may pay the price for that decision. To help you better understand, a Carmel estate planning attorney at Frank & Kraft explains what’s wrong with using a Do-it-Yourself Will form. The Price Your Loved Ones Pay In today’s electronic age, where everything can be found on the internet, it may seem easier to simply download a Last Will and Testament form and fill in the blanks … [Read more...] about What’s Wrong with Using a Do-it-Yourself Will Form?
Most of us have an elderly family member that we cherish. That also means we worry about our loved one. One common source of that worry is the risk of a fall. The elderly, after all, are particularly susceptible to falling and are more likely to be seriously injured if they do fall. To help you keep your loved one safe, a Carmel estate planning attorney at Frank & Kraft explains the elderly fall danger and offers tips to help prevent your loved one from falling. Elderly Fall Facts and … [Read more...] about Elderly Fall Dangers and How to Avoid Them
Approximately 70 percent of Americans over the age of 65 will need some level of long-term care services in their lifetime with 40 percent needing care in a nursing home. If you find yourself, or someone you love, in need of long-term care, it is important to also understand the rules and regulations that apply to LTC facilities. To get you started, a Carmel elder law attorney at Frank & Kraft explains long-term care transfer and eviction rules you need to know.. Your Federal and State … [Read more...] about Long-Term Care Facility Rules You Need to Know
When you create an estate plan, that plan should accomplish a number of inter-related goals. One of those goals should focus on tax avoidance. After all, no one wants to lose a significant portion of their estate to Uncle Sam. One common mistake you should avoid, however, is to rely too heavily on the marital deduction. An Indianapolis estate planning attorney at Frank & Kraft explains the marital deduction is often not enough to protect your estate from federal gift and estate … [Read more...] about Why the Marital Deduction Is Not Enough
Medicare is a federally funded health care program that most seniors rely on to cover the costs associated with health care services. Understanding the rules and procedures of the Medicare program, however, can be frustrating for seniors. Now there is an app that can help. An Indianapolis elder law attorney at Frank & Kraft explains how the Medicare app can help you. Introducing the Medicare App For most of us, the older we are, the more we spend on health care. Whether it starts at 55 … [Read more...] about How the Medicare App Can Help You
An inheritance can come in many forms. One of the assets that is frequently passed down to loved ones is an IRA or 401(k) account. If you recently inherited one of these accounts, you need to understand the rules and the tax consequences that go along with your inheritance. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains the options for an inherited IRA or 401(k). Estate Tax Basics When an individual passes away, his/her estate typically has to go … [Read more...] about What Can I Do with the IRA I Inherited?