A comprehensive estate plan should include tools and strategies aimed at accomplishing various interrelated goals. For many people, probate avoidance is one of those goals. Along with the time it takes to get an estate through the probate process, the cost of probate is a primary reason to include probate avoidance strategies in your estate plan. To further explain, the Indianapolis probate attorneys at Frank & Kraft explain some common probate fees in Indiana. Probate Basics Most … [Read more...] about What Are the Probate Fees in Indiana?
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5 Medicaid Myths Dispelled
Many people make it through their entire working years without ever needing to rely on Medicaid to cover healthcare expenses, only to find that they must turn to Medicaid as a senior. If you are among them, you may mistakenly believe some of the myths and misconceptions about the program. To help clear those up, the Indianapolis Medicaid planning attorneys at Frank & Kraft dispel five common Medicaid myths. Medicaid Myths Contact Indianapolis Medicaid Planning Attorneys For more … [Read more...] about 5 Medicaid Myths Dispelled
What Happens to an Inheritance If No One Claims It?
The ability to decide what happens to your estate assets after your death was likely a primary motivation for creating your estate plan. If all goes as planned, all your estate assets are eventually transferred to the intended beneficiaries during probate, the legal process that follows your death. What happens though if assets remain unclaimed at the end of probate? The Indianapolis estate planning attorneys at Frank & Kraft explain what happens to an unclaimed inheritance in … [Read more...] about What Happens to an Inheritance If No One Claims It?
How to Protect Your Blended Family Using a QTIP Trust
In the United States, the divorce rate has hovered around 50 percent for some time now. Consequently, blended families that result from second (or subsequent) marriages have all but become the norm in the U.S. While estate planning is important for anyone with a family, it takes on heightened importance if you are part of a blended family. The Indianapolis estate planning attorneys at Frank & Kraft explain how to protect your blended family using a QTIP trust. Estate Planning … [Read more...] about How to Protect Your Blended Family Using a QTIP Trust
Estate Planning Tips to Prevent Sibling Disputes
For most people, one of the primary reasons to create an estate plan is to ensure that their estate is distributed according to their wishes after they are gone. Another reason is to reduce the likelihood of confusion and conflict after they are gone. If you have adult children, you undoubtedly want to do all you can to prevent disputes between them as well. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft offer estate planning tips to prevent sibling … [Read more...] about Estate Planning Tips to Prevent Sibling Disputes
Top 10 Retirement Planning Tips
The earlier you begin planning for retirement the less you will need to save in the long run. In fact, you might be amazed to find out what a huge difference it makes to start saving earlier in your working career. To ensure that your retirement plan works as intended, however, it should be created in conjunction with your overall estate plan. Toward that end, the Indianapolis estate planning attorneys at Frank & Kraft offer 10 important retirement planning tips. Retirement Planning … [Read more...] about Top 10 Retirement Planning Tips
What Seniors Need to Know about Estate Planning
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
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?
