If you are like the average person, you recognize the need to have a comprehensive estate plan in place, but beyond that estate planning remains somewhat of a mystery. Estate planning encompasses much more than just deciding how your estate will be distributed after you are gone. Likewise, an estate planning attorney can do much more for you than you probably realize. The Indianapolis estate planning attorneys at Frank & Kraft explain 10 things about estate planning that you might not … [Read more...] about Top 10 Estate Planning Tips
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What Does It Mean to Decant a Trust?
Like many people, you may have included a trust agreement in your overall estate plan. If that trust is an irrevocable trust, you were likely told that you cannot modify, amend, or revoke the trust. What happens though if circumstances change, and your irrevocable trust needs to be modified or amended? While it is always best to operate under the assumption that an irrevocable trust cannot be changed, there may be a way to make changes to an irrevocable trust. The Indianapolis trust … [Read more...] about What Does It Mean to Decant a Trust?
Can I Challenge My Father’s Will in Indiana?
The loss of a parent is not something for which you can ever truly prepare. If you recently lost your father, you are undoubtedly going through a period of grief and heightened emotions. Along with working through the emotional aftermath of your loss, you will also be faced with practical and legal issues relating to your father’s death. The administration of your father’s estate, for example, should begin shortly after his death. If your father left behind a Last Will and Testament, that … [Read more...] about Can I Challenge My Father’s Will in Indiana?
10 Reasons You Might Need an Estate Planning Attorney
Estate planning and related areas of the law are typically unfamiliar to the average person. This often means that people do not realize how an estate planning attorney can help them or when they need the assistance of one. To help make sure you get the guidance and assistance you need when you need it, the Indianapolis estate planning attorneys at Frank & Kraft explain 10 reasons why you might need to consult with an estate planning attorney. Contact Indianapolis Estate Planning … [Read more...] about 10 Reasons You Might Need an Estate Planning Attorney
Trust Administration Steps
When a trust is created, the trust creator must appoint a Trustee to administer the trust. If you recently learned that you were appointed to be the Trustee of a trust, and you have never before administered a trust, you may be a bit intimidated at the prospect of doing so. The Indianapolis trust administration attorneys at Frank & Kraft offer a trust administration checklist for the new Trustee. What Does It Mean to Administer a Trust? The Trustee’s overall job is to administer the … [Read more...] about Trust Administration Steps
Protecting Assets Often Requires Avoiding Medicaid Spend-Down
Creating a successful estate plan requires you to contemplate several potential scenarios, including the possibility that you (or a spouse) will need long-term care in the future. Factoring this possibility into your estate plan is crucial because of the high cost of that care and the related likelihood that you will need to qualify for Medicaid to help pay for that care. If you fail to plan for the possibility that you will need to qualify for Medicaid, you could face the loss of assets because … [Read more...] about Protecting Assets Often Requires Avoiding Medicaid Spend-Down
The Pros and Cons of Sharing Your Estate Plan with Loved Ones
If you have an estate plan in place, you already recognize the numerous benefits an estate plan offers. Once your plan is in place, however, you may struggle with deciding how much (if any) of the plan details to share with beneficiaries and heirs of your estate. Ultimately, it is a very personal decision; however, the Indianapolis estate planning attorneys at Frank & Kraft discuss the pros and cons of sharing your estate plan with loved ones. Pros of Sharing Details of Your Estate … [Read more...] about The Pros and Cons of Sharing Your Estate Plan with Loved Ones
What Is an Indiana Living Will?
Like most people, you probably created a Last Will and Testament as the foundation of your estate plan. At some point, you may also want to add a Living Will to that plan to ensure that your wishes will be honored regarding end-of-life healthcare decisions. Toward that end, the Indianapolis estate planning attorneys at Frank & Kraft explain what an Indiana Living Will is and why you need one. Advance Directive Basics An advance directive is a legal document that allows you make … [Read more...] about What Is an Indiana Living Will?
Stages of Life When You Need an Estate Plan
One of the many confusing things about estate planning for the average person is knowing when to create a plan. The simplest way to clear up the confusion is to explain that it is never too early to start working on an estate plan. Despite that oversimplification, there are certain stages in life when creating an estate plan is particularly important and/or when you need to update an existing estate plan. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss … [Read more...] about Stages of Life When You Need an Estate Plan
What You Need to Know If You Are a Caregiver
If you have taken on the responsibility of providing care for an elderly loved one so that he/she can remain at home, you may already be familiar with the mental and physical exhaustion caregivers often face. It is easy to put your own needs on the backburner when caring for someone you love who is suffering from physical and/or mental deterioration. If you completely ignore your own needs, however, your body will eventually react, causing your own physical and/or mental deterioration. … [Read more...] about What You Need to Know If You Are a Caregiver
