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
Blog
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
How Might an Estate End Up in Litigation?
Probate is the legal process typically required after an individual’s death to settle and distribute the decedent’s estate. The probate process can be costly and complicated even without disputes; however, when a dispute turns into litigation, it can wreak havoc with the administration of the estate. The Indianapolis estate planning attorneys at Frank & Kraft explain how an estate might end up in litigation. Probate Basics After the death of an individual, his/her assets must be … [Read more...] about How Might an Estate End Up in Litigation?
Why a Basic Will May Not Be Enough
When most people think about the creation of an estate plan, they think only of the need to execute a Last Will and Testament to ensure that their estate is distributed pursuant to their wishes after death. While that is certainly one aspect of estate planning, a well-thought-out and comprehensive estate plan usually includes more than just a simple Will. The Indianapolis trust attorneys at Frank & Kraft explain why a basic Will may not be enough to achieve all your estate planning … [Read more...] about Why a Basic Will May Not Be Enough
How to Guard Your Child’s Inheritance
From the moment you first learned you were going to be a parent you likely worried about protecting and providing for your child. That need to protect and provide is evident in your estate plan because you want to be sure your child is financially secure if something happens to you while he/she is still young. Simply leaving an inheritance behind for your child isn’t enough though. As the Indianapolis trust attorneys at Frank & Kraft explain, you must decide who you want to guard that … [Read more...] about How to Guard Your Child’s Inheritance
How Can I Incorporate Charitable Gifting into My Estate Plan?
For many people, philanthropy is an important part of their everyday life. If you are one of those people, your charity does not have to end when you are gone. On the contrary, with careful planning, your charitable gifting can continue long past the time of your death. The Indianapolis estate planning attorneys at Frank & Kraft explain how to incorporate charitable gifting strategies and tools into your estate plan. Philanthropy in Your Daily Life Are you someone for whom philanthropy … [Read more...] about How Can I Incorporate Charitable Gifting into My Estate Plan?
