One of the most common additions to a well thought out estate plan is a trust because a trust can accomplish such a wide range of estate planning goals. To know whether a trust could be a beneficial addition to your estate plan, you need to better understand your trust options and the role taxes play when trust assets are sold by different types of trusts. An Indianapolis trust attorney at Frank & Kraft explains how capital gains taxes are treated when you create an irrevocable … [Read more...] about Does an Irrevocable Trust Pay Capital Gains Taxes?
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Tips to Help Seniors Avoid Holiday Scams
During the holidays people make an extra effort to be friendly and really embrace the spirit of the season. Unfortunately, it is also prime time for scam artists. Although they may target anyone, these predators frequently target the elderly, particularly during the holiday season. The Indianapolis elder law attorneys at Frank & Kraft offers tips to help seniors avoid becoming the victim of holiday scams. What Makes the Holidays Prime Scam Season? Why are scammers more prolific during … [Read more...] about Tips to Help Seniors Avoid Holiday Scams
Things to Consider Prior to Creating a Trust
Although a Last Will and Testament will likely remain the foundation of your estate plan, as both your family and your estate grow, so will your estate plan. Additional estate planning tools and strategies will be incorporated into your plan to ensure that all your estate planning goals are met. One of the most common tools is a trust. If you decide to include a trust in your estate plan, you should work with an experienced trust attorney during the creation of the trust. In the meantime, … [Read more...] about Things to Consider Prior to Creating a Trust
How Much Does Probate Cost?
One of the most popular estate planning goals is probate avoidance. One of the most common reasons why people want to avoid probate is the cost involved in administering an estate. To better help you understand why avoiding probate is so desirable, the Indianapolis estate planning attorneys at Frank & Kraft explain how much probation the average estate could cost. What Is Involved in Administering My Estate? When you die, you will leave behind a legal estate consisting of all assets … [Read more...] about How Much Does Probate Cost?
5 Reasons to Consult With an Elder Law Attorney
The older population in the United States has increased rapidly in recent years and is expected to continue to grow in the coming decades. As the number of seniors swells, legal issues related to the elderly and to those who care for them have taken on heightened importance. Because the area of elder law is such a relatively new area of the law though, many people don’t even recognize that they need an elder law lawyer when they encounter one of these issues. To help remedy that, a Carmel elder … [Read more...] about 5 Reasons to Consult With an Elder Law Attorney
“Movember” Is a Good Time to Review Your Estate Plan
The month of November, also known as "Movember," is all about men's health awareness. During Movember mustaches grow longer. Those mustaches turn men into walking, talking billboards for men’s health to bring attention to prostate cancer, testicular cancer, mental health, and suicide prevention. The Indianapolis estate planning attorneys at Frank & Kraft encourage you to review your estate plan during Men’s Health Awareness Month this Movember to make sure it protects you, your assets, and … [Read more...] about “Movember” Is a Good Time to Review Your Estate Plan
What Is Uniform Transfer to Minors Act?
As a parent, grandparent, or other family member, you may wish to gift assets to minors within your estate plan. If so, care must be taken when making gifts to minors, both during your lifetime and after you are gone. The Indianapolis estate planning attorneys at Frank & Kraft explain why you need to understand the Uniform Transfer to Minors Act (UTMA) if you plan to transfer assets to minors in your estate plan. The History of the UTMA The Uniform Transfer to Minors Act is a model law … [Read more...] about What Is Uniform Transfer to Minors Act?
Titling Property – Rights of Survivorship
Over the course of your lifetime, you will likely co-own property with someone. If you marry, you may purchase a home that you want to title in both your name and your spouse’s name. If you own a business, you may also decide to purchase real property with a business partner. You might also decide to invest in property with a sibling, adult child, or close friend. As the Indianapolis estate planning attorneys at Frank & Kraft explain, the way you hold that joint title is more important than … [Read more...] about Titling Property – Rights of Survivorship
Understanding Trusts
Most people are familiar with the concept of a trust; however, the thought of creating a trust can be a bit intimidating. If you are considering the use of a trust in your estate plan, deciding on which type of trust is best for your needs and goals is the first step toward incorporating a trust into your plan. The Indianapolis trust attorneys at Frank & Kraft explain the different types of trusts available. Testamentary Trusts A testamentary trust is a trust that doesn’t activate … [Read more...] about Understanding Trusts
Social Media and Your Elderly Loved Ones
In today’s world, if you do not own a cellphone, tablet, or laptop computer you are definitely in the minority. Most of us spend a decedent amount of time on various social media platforms. For grandparents, communicating with the grandkids often requires the use of social media. This presents a very real risk for seniors. Scam artists and other predators who prey on older victims specifically target older victims through social media. The Indianapolis elder law attorneys at Frank & Kraft … [Read more...] about Social Media and Your Elderly Loved Ones
