Tax avoidance is a common, and important, estate planning goal for many people. If you have not considered the need to plan for the impact of estate and inheritance taxes within your estate plan, there is no time like the present to do so. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss estate planning tools and strategies that can help you eliminate estate and inheritance taxes. What Are Estate Taxes? When you die you will leave behind an estate … [Read more...] about Can an Estate Plan Completely Eliminate Estate and Inheritance Taxes?
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How Do I Access My Inheritance?
When a family member or loved one passes away, a period of grieving typically follows. Although the legalities of your loved one’s death may not be at the forefront of your mind during the grieving period, you may eventually focus on the fact that you were left an inheritance. How do you get the inheritance left to you though? What steps do you need to take? Who is responsible for giving you your inheritance? To try and answer some of these questions, the Indianapolis probate attorneys at Frank … [Read more...] about How Do I Access My Inheritance?
Do I Need a Pour Over Will If I Have a Trust?
You likely executed a Last Will and Testament as the foundation of your initial estate plan, relying on that Will to distribute your estate assets. Since that time, you may have decided to establish a trust agreement to serve as your primary estate planning document, now relying on that trust to distribute your assets. Nevertheless, you should still have a pour over Will in place. To better explain, the Indianapolis estate planning attorneys at Frank & Kraft discuss why you still need a pour … [Read more...] about Do I Need a Pour Over Will If I Have a Trust?
Celebrate Disability Pride Month in July
July is celebrated worldwide as Disability Pride Month. For disabled adults and parents of children with special needs, Disability Pride Month is an opportunity to learn, educate, and celebrate what makes each person living with a disability unique. To get you started, the Indianapolis special needs planning attorneys at Frank & Kraft offer some suggestions for how to celebrate Disability Pride Month in July. History of Disability Pride Month Disability Pride Month can trace its roots … [Read more...] about Celebrate Disability Pride Month in July
Special Need Planning: ABLE Accounts
If you are the parent or grandparent of a child with special needs, the importance of incorporating a special needs planning component into your estate plan cannot be understated. While every special needs plan should be uniquely tailored to the needs and objectives of the individual creating the plan, there are some frequently used estate planning tools and strategies that may help. The Indianapolis special needs planning attorneys at Frank & Kraft explain how ABLE Accounts may fit into … [Read more...] about Special Need Planning: ABLE Accounts
How Does an ILIT Fit Into My Estate Plan?
Funeral planning may not be the first thing you think about when you contemplate your estate plan; however, it is something that you should consider including. If you do decide to incorporate a funeral planning component in your estate plan you may choose to create a special type of trust known as an Irrevocable Life Insurance Trust, or ILIT. The Indianapolis estate planning attorneys at Frank & Kraft explain how an Irrevocable Life Insurance Trust, commonly referred to as an ILIT, might fit … [Read more...] about How Does an ILIT Fit Into My Estate Plan?
What Happens If I Die Without an Estate Plan in Place?
Every adult should have at least a rudimentary estate plan in place; yet, over half of all Americans do not. This is the case despite most of those without a plan acknowledging the need for one. Often, failing to understand why an estate plan is so important is the problem. To help keep you from making that mistake, the Indianapolis estate planning attorneys at Frank & Kraft explain what happens if you die without an estate plan in place. What Is an “Intestate” Estate? If you leave … [Read more...] about What Happens If I Die Without an Estate Plan in Place?
What Is a Charitable Gift Annuity?
For many people, charitable gifting is an important part of who they are and of the legacy they hope to leave behind when they are gone. If you are among them, incorporating your philanthropic goals into your estate plan is important. When doing so, you should maximize any secondary benefits that might be available to you. One charitable gifting tool you may wish to consider using is a charitable gift annuity. The Indianapolis estate planning attorneys at Frank & Kraft explain what a … [Read more...] about What Is a Charitable Gift Annuity?
How Estate Planning Can Protect Your Grandparents
Grandparents are invaluable. They share their endless wisdom with you and often spoil their grandkids. While grandparents that spoil the grandkids are awesome, incapacitated grandparents with significant assets are a problem. Assets could be depleted, even stolen, leaving your grandparents destitute in their final years. While the idea of stepping in and taking over your grandparents’ finances and/or decision-making may make you uncomfortable, not doing so could put your grandparents at risk. … [Read more...] about How Estate Planning Can Protect Your Grandparents
Estate Planning for Grandparents of a Grandchild with Special Needs
Grandparents play a unique role in the lives of their grandchildren. Typically, they get to have all the fun with little of the responsibility where their grandchildren are concerned. At the same time, they can pass down their wisdom and life lessons to their grandchildren, providing them with invaluable advice and guidance. Grandparents also frequently include their grandchildren in their estate plans. The Indianapolis special needs planning attorneys at Frank & Kraft explain why it is … [Read more...] about Estate Planning for Grandparents of a Grandchild with Special Needs
