For most people, a comprehensive estate plan includes numerous legal documents and various ancillary documents. Which of these is the most important estate planning document? For most people a Last Will and Testament provides the foundation on which their estate plan is built; however, a trust agreement may eventually be just as important. The Indianapolis estate planning attorneys at Frank & Kraft explains which document is the most important one in your estate plan. Your Last Will and … [Read more...] about Which Document Is More Important in My Estate Plan — a Will or a Living Trust?
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What Happens to My Estate after My Death?
Most people have a vague understanding of the importance of estate planning; however, there are also several myths and misconceptions surrounding the reason for having an estate plan in place. Specifically, people often have the wrong ideas about what happens after they are gone. To help make sure you do not fall victim to any of these mistaken ideas, the Indianapolis estate planning attorneys at Frank & Kraft discuss five things you might not know about what happens after your … [Read more...] about What Happens to My Estate after My Death?
What You Need to Know about Elder Law
Experts tell us that by the year 2050, the older population (age 65 and older) will outnumber their younger counterparts (age 21 and younger) for the first time in history. The growing senior population has caused a corresponding increase in legal issues that impact the elderly. While older adults face many of the same legal issues as younger adults do, they also have some unique legal issues. An Indianapolis elder law attorney at Frank & Kraft answers five common elder law … [Read more...] about What You Need to Know about Elder Law
The Importance of Choosing the Right Fiduciaries in Your Estate Plan
During the creation of your estate plan, you will be required to make numerous decisions. Some of those decisions will seem relatively unimportant; however, others will have a direct impact on the success – or failure – of your overall estate plan. Among the more important decisions you will make are those that involve choosing a fiduciary. The Indianapolis estate planning attorney at Frank & Kraft explains the importance of choosing the right fiduciaries in your estate plan. What Is a … [Read more...] about The Importance of Choosing the Right Fiduciaries in Your Estate Plan
How to Take Part in Military Appreciation Month This May
Every American owes a debt of gratitude to the millions of men and women who currently serve or who have served in the United States military. Without their dedication and sacrifice, and that of their families, we would not enjoy the benefits and freedom many of us take for granted as Americans. To show support for our military families, we celebrate Military Appreciation Month every May. The Indianapolis estate planning attorneys at Frank & Kraft offer some suggestions for how you can take … [Read more...] about How to Take Part in Military Appreciation Month This May
Steps to Take If You Suspect Elder Abuse
As we age, so do our parents, grandparents, and other older family members. At some point, a role reversal often occurs, where you become the protector and your older family members become vulnerable. As a result of physical and/or mental deterioration, your older family members may eventually need additional assistance around the house or may even need around the clock care in a long-term care facility. Despite your best efforts to ensure that the people caring for your loved one … [Read more...] about Steps to Take If You Suspect Elder Abuse
Why Funeral Planning Should Be Part of Your Estate Plan
If you prefer not to think about your own funeral and burial, you are hardly alone. Most people don’t want to dwell on the reality of their own mortality. You should, however, know enough about the practical expenses involved in a funeral and burial to recognize the wisdom of including a funeral planning component in your comprehensive estate plan. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain that dying is expensive and why funeral planning should be … [Read more...] about Why Funeral Planning Should Be Part of Your Estate Plan
What Is a Spendthrift Trust?
Sometimes, the most difficult part of creating an estate plan is not deciding who to include as beneficiaries but deciding how to gift assets to those beneficiaries. For example, you may be reluctant to pass down assets directly to a beneficiary because that individual cannot be trusted to manage his/her own money for one reason or another. If you find yourself in that position, a spendthrift trust may be the solution. For those who are unfamiliar with the concept, an Indianapolis estate … [Read more...] about What Is a Spendthrift Trust?
Why You Should Not Depend Entirely on the Marital Deduction
When you create an estate plan, that plan should accomplish several 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 taxes. Federal … [Read more...] about Why You Should Not Depend Entirely on the Marital Deduction
5 Reasons to Immediately Update Your Estate Plan
If you have an estate plan in place already, you are ahead of the curve in the United States. Surveys indicate that despite understanding how important estate planning is, over half of all Americans do not have a plan. While you deserve to pat yourself on the back for putting together your initial estate plan, do not make the mistake of thinking that you can forget about the issue of estate planning from here on out. On the contrary, your initial estate plan needs to be reviewed and revised … [Read more...] about 5 Reasons to Immediately Update Your Estate Plan
