You have probably been counseled by well-meaning friends and family members about the importance of executing at least a basic Last Will and Testament. Unless you understand why that is so important, however, you may lack the motivation to get started on your Will. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain what happens to your estate assets if you die intestate in Indiana. What Is a Last Will and Testament? A Last Will and Testament is a … [Read more...] about What Happens to My Assets If I Die Intestate in Indiana?
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What Options Are Available for Elder Care?
The longer we live, the higher the chance of needing some type of long-term care services. No one wants to end up in a nursing home facility; however, if an elderly loved one needs care that you cannot provide by yourself, you may be reluctantly considering a nursing home. Before you commit to nursing home care, the Indianapolis elder law attorneys at Frank & Kraft explain some alternative options for elder care. Community Services Many communities offer a variety of community-based … [Read more...] about What Options Are Available for Elder Care?
Understanding How Basis Impacts the Transfer of Property
Amassing assets alone does not ensure a comfortable retirement or a financially secure future for loved ones after you are gone. You must also take steps to protect the assets you acquire. One important way to maximize the assets you can pass down to loved ones is to include tax avoidance strategies in your comprehensive estate plan. Doing so can reduce, or even avoid, a hefty tax obligation for you, your estate, and even your beneficiaries. Understanding how the “basis” of an asset is … [Read more...] about Understanding How Basis Impacts the Transfer of Property
How Does an Estate Pay Federal Gift and Estate Taxes?
When a loved one passes away, the person appointed as the Executor in the decedent’s Last Will and Testament has several important responsibilities during the administration of the estate. One of those responsibilities is to determine whether the estate owes federal gift and estate taxes, and if so to pay them. To help you fulfill your role as Executor, the Indianapolis probate attorneys at Frank & Kraft offer some practical information related to paying federal gift and estate … [Read more...] about How Does an Estate Pay Federal Gift and Estate Taxes?
Best Countries for Retiring Abroad
When it comes to real estate, it is all about “location, location, location.” Where you purchase property not only goes a long way in determining the current and future value of the property, but also impacts your enjoyment of the property. When it comes to retirement planning, where you live can also significantly impact how far your retirement income stretches. That, in turn, affects how comfortably you live out your retirement years. It is precisely for this reason that a growing number of … [Read more...] about Best Countries for Retiring Abroad
Steps to Take Following a Terminal Diagnosis
Whether you recently received a terminal diagnosis yourself, or a family member is terminally ill, the diagnosis likely caused a range of strong emotions. In the middle of all those heightened emotions, it can be difficult to think about the practical and legal steps that should be taken following a terminal diagnosis. Those steps, however, are important. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft discuss 10 steps you should consider taking following a … [Read more...] about Steps to Take Following a Terminal Diagnosis
How Long Do I Have to Wait to Receive My Inheritance?
Although learning that a loved one passed away may result in a period of grieving, finding out that you were left an inheritance is welcome news. Unfortunately, you may be waiting for a long time before you receive that inheritance. If the decedent’s estate is required to go through probate, it could take a year or longer before your inheritance can be released to you. Why does probate take so long? The Indianapolis probate attorneys at Frank & Kraft explain how long you may need to … [Read more...] about How Long Do I Have to Wait to Receive My Inheritance?
Why Should I Consider Guardianship for My Parent?
Watching your parent struggle with the physical and/or mental deterioration that accompanies the aging process can be extremely difficult. Nevertheless, making the decision to seek guardianship over your parent can be a heart-wrenching decision. It may feel like doing so will take away your parent’s freedom and independence. To help you decide how to proceed, an Indianapolis adult guardianship attorney at Frank & Kraft discusses why you should consider guardianship for your parent. What … [Read more...] about Why Should I Consider Guardianship for My Parent?
How to Recognize Nursing Home Abuse
Like many people, you may have avoided placing an elderly loved one in a nursing home for as long as possible. Between the concern you have that doing so will take away your loved one’s independence and the seemingly never-ending news reports about nursing home abuse, you may have gone to great lengths to avoid the nursing home option; however, at some point, a nursing home often becomes the only option. Fortunately, there are nursing homes that provide competent, caring, and compassionate … [Read more...] about How to Recognize Nursing Home Abuse
Do You Have the Right Type and Amount of Life Insurance?
For many people, life insurance plays an integral role in their comprehensive estate plan. If you purchased a life insurance policy several years ago, it may be time to re-evaluate that policy. If there have been changes to your family and/or your estate, you may need to make corresponding changes to your life insurance policy. To help you get started, the Indianapolis estate planning attorneys at Frank & Kraft help you figure out if you have the right type and right amount of life … [Read more...] about Do You Have the Right Type and Amount of Life Insurance?
