Every American should have a comprehensive estate plan in place. For seniors, the need for planning is heightened. If you are a senior and have yet to create a plan, there is no time like the present to do so. Understanding why an estate plan is so important should provide the motivation to get you started. The Indianapolis estate planning attorneys at Frank & Kraft explain what seniors need to know about estate planning. Why Is Estate Planning Crucial for Older Americans? When you … [Read more...] about What Seniors Need to Know about Estate Planning
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Can I Change the Terms of My Trust?
Like many people, you may include a living trust in your estate plan. As the Settlor of the trust, you appoint the Trustee, designate the trust beneficiaries, and dictate the terms used to administer the trust. You will also choose how you wish to fund the trust. No matter how much thought you put into making all those initial decisions, circumstances may change in the future causing you to want to modify your trust. To explain how that works, an Indianapolis trust attorney at Frank & Kraft … [Read more...] about Can I Change the Terms of My Trust?
If I Have a Family Wealth Trust Do, I Still Need a Will?
Like many people, you may choose to establish a Family Wealth Trust to use as your primary method of distributing your estate. One mistake you do not want to make, however, is eliminating a Will completely from your overall estate plan. The Indianapolis estate planning attorneys at Frank & Kraft explain why you should include a Pour-Over Will in your estate plan even if you have a Family Wealth Trust in place. Your Last Will and Testament A Last Will and Testament is a legally binding … [Read more...] about If I Have a Family Wealth Trust Do, I Still Need a Will?
Can Someone Object to My Appointment as My Parent’s Guardian?
Deciding to petition to become your parent’s Guardian is never an easy decision to make. It often feels as though you are taking away your parent’s independence. If you truly believe your parent needs a Guardian, however, and you fail to step up and become that Guardian, your parent could suffer serious and irreparable physical, mental, or financial harm. Keep in mind though that if you move forward with a guardianship petition, someone may object to your appointment. To help prepare you, the … [Read more...] about Can Someone Object to My Appointment as My Parent’s Guardian?
What Might Be Missing from My Estate Plan?
If you have an estate plan in place it is always a good idea to check your plan from time to time to ensure that you are not missing important components or tools in your plan. Unfortunately, people frequently have incomplete estate plans. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss what might be missing from your estate plan. The Need for Comprehensive Estate Planning If you have an estate plan in place, you are better off than about half of … [Read more...] about What Might Be Missing from My Estate Plan?
Medicaid Programs for Seniors in Indiana
If you are a senior, or you will be soon, you are likely hoping to avoid the need to move to a nursing home for as long as possible. The cost of alternatives to long-term care, however, may seem prohibitive. What you may not realize is that Medicaid not only covers LTC expenses, but it may also cover alternatives to LTC that can help you remain in your home longer. To help ensure that you understand your options, an Indianapolis Medicaid planning attorney at Frank & Kraft explains Medicaid … [Read more...] about Medicaid Programs for Seniors in Indiana
How Do I Amend My Will?
Although many people choose to incorporate a trust agreement into their estate plan, a Last Will and Testament continues to serve as the foundation for most estate plans. The Will you drafted even a few short years ago, however, may not cover your current circumstances, meaning you may need to make changes to your Will. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain how to amend your Last Will and Testament. Last Will and Testament Basics A Last … [Read more...] about How Do I Amend My Will?
Top 3 Estate Planning Documents
For the average person, estate planning is an unfamiliar – and often intimidating -- concept. Although every estate plan is uniquely tailored to the needs and goals of the person creating the plan, there are some documents found in most plans. To help you familiarize yourself with these documents, the Indianapolis estate planning attorneys at Frank & Kraft discuss three documents that should be in your estate plan. Contact Indianapolis Estate Planning Attorneys For more information, … [Read more...] about Top 3 Estate Planning Documents
Is a Senior Life Settlement Right for Me?
As a retiree, you are likely hoping to enjoy your “Golden Years” without having to worry about finances. If you are concerned that may not be the case, your life insurance policy may be one potential source of financial assistance that you may not have considered. The Indianapolis elder law attorneys at Frank & Kraft help you decide if a senior life settlement is right for you. What Is a Senior Life Settlement? You have likely been paying the premiums on your life insurance policy for … [Read more...] about Is a Senior Life Settlement Right for Me?
Understanding the Annual Exclusion
For many people, a successful estate plan needs to limit exposure to federal and/or state gift and estate taxes. Failing to incorporate tax avoidance strategies into your estate plan could cost your estate (and your beneficiaries) a substantial amount of money. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain how to benefit from the annual exclusion. Understanding Federal Gift and Estate Taxes The federal gift and estate tax is essentially a tax on … [Read more...] about Understanding the Annual Exclusion
