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
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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
Do I Need a “Durable” Power of Attorney?
Although every estate plan is as unique as the individual who creates the plan, there are some common documents that tend to be found in the average estate plan. A power of attorney is one of those. You probably have some idea what a power of attorney is and how one works; however, do you know what a “durable” power of attorney is, and do you need to include one in your estate plan? The Indianapolis estate planning attorneys at Frank & Kraft explain a “durable” power of attorney and discuss … [Read more...] about Do I Need a “Durable” Power of Attorney?
Celebrate Long-Term Care Planning Month this October by Reviewing Your Plan
October is designated as “Long-Term Care Planning Month” each year in the United States. For all of us, it provides an excellent reminder of the need to have a long-term care (LTC) plan in place as well as the perfect opportunity to review your plan if you do have one in place. Before the month of October comes to a close, make a point of looking over your LTC plan and making an appointment with your estate planning attorney to go over the plan and/or make any changes that need to be made. The … [Read more...] about Celebrate Long-Term Care Planning Month this October by Reviewing Your Plan
Is Your Business Protected in Your Estate Plan?
As a business owner, the need for comprehensive and inclusive estate planning is amplified. Without a business succession planning component in your estate plan, all the hard work and sacrifice on your part to get your business off the ground may be at risk if something happens to you. The Indianapolis business succession planning attorneys at Frank & Kraft are committed to helping you protect your investment by explaining the importance of business succession planning. The Importance of … [Read more...] about Is Your Business Protected in Your Estate Plan?
Understanding the Benefits of an Intentionally Defective Grantor Trust
One of your primary estate planning considerations should be the impact federal gift and estate taxes will have on your estate after you are gone if you have significant assets that will be left behind. One estate planning tool you may decide to use is an Intentionally Defective Grantor Trust (“IDGT”). The Indianapolis trust attorneys at Frank & Kraft explain why you might want to create an Intentionally Defective Grantor Trust. Intentionally Defective Grantor Trust Basics An IDGT is a … [Read more...] about Understanding the Benefits of an Intentionally Defective Grantor Trust
Estate Planning Lessons the Covid Pandemic Has Taught Us
For over a year and a half now the entire world has been grappling with the Covid-19 pandemic. We have lived through lockdowns, social distancing, and the race to create a vaccine. Many of us have also lost loved ones or watched them suffer. The Indianapolis estate planning attorneys at Frank & Kraft discuss how the Covid-19 pandemic has also taught us some important lessons about estate planning. What Should Be Part of Your Estate Plan during the Covid-19 Pandemic? A comprehensive … [Read more...] about Estate Planning Lessons the Covid Pandemic Has Taught Us
Can a Charity Be the Beneficiary of a Living Trust?
For many people, philanthropy is part of their everyday life. If you are someone who believes strongly in charitable gifting, you may wish to continue that charitable gifting in your estate plan. While you can make charitable gifts in your Will, that is often not the best way to do so. Instead, consider using a living trust. The Indianapolis trust attorneys at Frank & Kraft explain how to make a charity the beneficiary of your living trust. Gifting to Charity Using Your Last Will and … [Read more...] about Can a Charity Be the Beneficiary of a Living Trust?
Is Trust Administration Expensive?
A living trust is among the most common additions to an estate plan. A living trust can be used to help with a variety of estate planning goals, including probate avoidance, incapacity planning, and asset protection. If you are considering a living trust for your estate plan, you may be concerned about the cost of administering that trust once it is active. To help you better plan your estate, an Indianapolis trust administration attorney at Frank & Kraft discusses trust administration … [Read more...] about Is Trust Administration Expensive?
