As you may already know, a Last Will and Testament is not the only estate planning tool available for gifting assets to loved ones or other beneficiaries. Many people choose to use a living trust in addition to, or in lieu of, a Will to pass down estate assets. One reason people often choose to use a trust to distribute assets is the ability to direct when assets are distributed and even how assets are used by the beneficiaries. The benefit you gain by being able to dictate how trust assets are … [Read more...] about Can I Sell My Interest in a Trust?
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How to Include Cryptocurrency in Your Estate Plan
By now, almost everyone has at least heard the term “cryptocurrency” and some people actively buy, sell, and use cryptocurrency on a regular basis. If you own cryptocurrency, how does it fit into your estate plan? To help shed some light on the subject, the Indianapolis estate planning attorneys at Frank & Kraft explain some cryptocurrency basics and discuss how to include it in your estate plan. What Is Cryptocurrency? If you were born before the Millennial generation, cryptocurrency … [Read more...] about How to Include Cryptocurrency in Your Estate Plan
Estate Planning 101 for the Beginner
Estate planning can be a daunting process the first time around for many people. Ideally, your estate plan should incorporate a wide range of goals and objectives into one comprehensive plan. That plan may utilize numerous estate planning tools and strategies, all of which can seem overwhelming. To help you feel more at ease with getting started on your estate plan, Indianapolis estate planning attorneys at Frank & Kraft offer some estate planning basics for the beginner. Define your … [Read more...] about Estate Planning 101 for the Beginner
What You Need to Know about Long-Term Care Insurance and Medicaid Planning
Although most of us prefer to envision living out our retirement years in our own home, the reality is that long-term care could be necessary at some point which makes planning for how you will pay for that care an important part of your estate plan. The Indianapolis Medicaid planning attorneys at Frank & Kraft discuss the advantages and disadvantages of purchasing long-term care insurance to cover the high cost of long-term care. Why Do I Need to Plan for Long-Term Care? The … [Read more...] about What You Need to Know about Long-Term Care Insurance and Medicaid Planning
What Is Portability?
Estate planning involves more than just deciding how your assets will be distributed after your death. If you have a moderate to large estate, one of your estate planning goals should be to avoid losing part of that estate to federal gift and estate taxes. To do that, you need to understand how the tax works and what tools and strategies are available to help reduce your estate’s tax obligation. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains the concept … [Read more...] about What Is Portability?
How Does Divorce Impact Your Estate Plan?
The aftermath of a divorce – or even the prospect of a divorce – can have a dramatic impact on everyone involved. The financial ramifications alone can last for years to come. If there are significant assets involved, the financial fallout from a divorce will almost certainly impact your estate plan as well. Whether you are simply being prudent and planning for the possibility of a future divorce or you have recently gone through a divorce, you need to consider the estate planning ramifications. … [Read more...] about How Does Divorce Impact Your Estate Plan?
Understanding SSI and SSDI
Losing the ability to work can have a devastating impact on you and your family, particularly if your income is a significant contributor to the family finances. It could happen, however, at any age due to a physical or mental disability. The good news is that there are two federal assistance programs that may be able to help – the Supplemental Security Income (SSI) program and the Social Security Disability Insurance (SSDI) program. The Indianapolis elder law attorneys at Frank & Kraft help … [Read more...] about Understanding SSI and SSDI
Should You Establish a Grantor Retained Income Trust?
To ensure that your estate doesn’t lose assets to federal gift and estate taxes you may need to include tax avoidance strategies in your estate plan. One estate planning tool that can provide tax avoidance benefits is a Grantor Retained Income Trust, or GRIT. Always consult with your estate planning attorney before deciding what tools to incorporate into your estate plan. In the meantime, however, the Indianapolis trust attorneys at Frank & Kraft explain how a Grantor Retained Income Trust … [Read more...] about Should You Establish a Grantor Retained Income Trust?
What Can Go Wrong during Probate?
You have likely heard that your estate plan should be structured to avoid probate to the extent possible. Unless you have been through the probate process before, however, you may be wondering why so much estate planning time and effort is devoted to worrying about probate. What is it that can go wrong during probate? To help answer that question, an Indianapolis estate planning attorney at Frank & Kraft discusses what can go wrong during probate and how a comprehensive estate plan can … [Read more...] about What Can Go Wrong during Probate?
How Can I Make Sure the Assets I Gift Are Used as Intended?
When you make gifts in your estate plan, you often have some idea how you hope those gifts are used by the recipients. In fact, it may be very important to you that assets are used in a specific way or for a specific purpose. One way to help make that happen is to gift the assets using an incentive trust. The Indianapolis trust attorneys at Frank & Kraft explain how an incentive trust can help ensure that assets you gift are used as intended. Trust Basics A trust is a fiduciary … [Read more...] about How Can I Make Sure the Assets I Gift Are Used as Intended?
