The primary focus of your estate plan may be the distribution of your estate assets when you are gone; however, a comprehensive estate plan will accomplish much more than just creating a roadmap for the division of your estate upon your death. Exactly which additional components you decide to include in your estate plan will be a personal decision based on your unique needs and goals. One additional component that should be found in every estate plan, however, is incapacity planning. The … [Read more...] about Are You Prepared for the Possibility of Your Own Incapacity?
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Remarriage and Your Estate Plan
The divorce rate in the U.S. continues to hover around 50 percent for a first marriage. Many of those divorces result in a remarriage, making blended families common in the U.S. If you are part of a blended family, you know the hard work it takes to successfully blend two existing families into one harmonious new family. One thing you don’t want to overlook when creating a blended family is the importance of a having a comprehensive estate plan in place. Toward that end, an Indianapolis estate … [Read more...] about Remarriage and Your Estate Plan
Is It Too Late for Medicaid Planning?
If you have never before needed to rely on Medicaid to cover your health care expenses, why would you need to include Medicaid planning in your estate plan? Unfortunately, the reality is that many seniors do eventually need to qualify for Medicaid at some point to help cover the high cost of long-term care. If you failed to plan ahead and suddenly find yourself in a position where you need to be eligible for Medicaid, is there anything you can do? The Indianapolis Medicaid planning attorneys at … [Read more...] about Is It Too Late for Medicaid Planning?
How a DAPT Can Help Protect Your Assets
Spending a lifetime amassing assets doesn’t do much good if you don’t then protect those assets from potential threats. Fortunately, there are a number of estate planning tools that can be used to protect assets, including a Domestic Asset Protection Trust (DAPT). To help you better understand, an Indianapolis asset protection planning attorney at Frank & Kraft explains how a DAPT helps protect your assets. DAPT Basics A domestic asset-protection trust (DAPT) is an irrevocable … [Read more...] about How a DAPT Can Help Protect Your Assets
What Do Probate Lawyers Do?
Throughout the course of your lifetime you will likely need the assistance and/or guidance of several different types of attorneys. Often, it is clear what type of attorney you need based on the type of legal issue you have. For example, if you find yourself under arrest you clearly need to retain the services of a criminal defense attorney. Likewise, if you decide to end a marriage, you need a family law attorney to represent you in the divorce. With other types of legal matters, however, it … [Read more...] about What Do Probate Lawyers Do?
5 Estate Plan Documents to Update after the Death of a Spouse
The loss of a spouse is one of the most emotional experiences you will probably have to go through over the course of your life. The last thing you may wish to think about while you are grieving the loss of a spouse is something as seemingly mundane as updating your estate plan. Failing to do so, however, could lead to some unintended and unwanted consequences. An Indianapolis estate planning attorney at Frank & Kraft discusses five estate plan documents you should update following the death … [Read more...] about 5 Estate Plan Documents to Update after the Death of a Spouse
Your Safety Deposit Box Is Not the Safest Place for Your Estate Planning Documents
Collectively, the documents that make up your comprehensive estate plan will likely be among the most important documents you ever create during your lifetime. Given how important they are, once they are prepared and ready to be utilized when necessary, what should you do with them? The Indianapolis estate planning attorneys at Frank & Kraft explain why your safety deposit box is not the safest place for your estate planning documents. Common Estate Planning Documents Your estate plan … [Read more...] about Your Safety Deposit Box Is Not the Safest Place for Your Estate Planning Documents
Can I Contest a Trust?
Trusts are frequently included in a comprehensive estate plan for a wide variety of reasons, including the fact that a trust can help an estate avoid probate. If you are the beneficiary of a trust, however, you may wonder if you can contest a trust. The Indianapolis trust attorneys at Frank & Kraft discuss when and how a trust can be contested. Trust Fundamentals A trust is a separate legal entity that owns and holds property for the benefit of one or more beneficiaries. A trust … [Read more...] about Can I Contest a Trust?
Study Shows Less People Are Engaging in Estate Planning
There is little doubt that estate planning can be a difficult and complex endeavor. People put off creating an estate plan for many reasons. Some do so because they do not want to face their own mortality while others simply find the prospect intimidating and confusing. Unfortunately, a recent Caring.com study shows that even fewer people are engaging in estate planning than were a few short years ago. The Indianapolis estate planning attorneys at Frank & Kraft explain the findings and … [Read more...] about Study Shows Less People Are Engaging in Estate Planning
Considering Your Family’s Needs in Your Estate Plan
Creating a comprehensive estate plan will likely be one of the most important endeavors you undertake over the course of your lifetime. When properly drafted and executed, an estate plan will protect you and your loved ones while you are alive, help protect and grow your assets, and provide for your family when you are gone. Estate planning is also a highly personal process that must take the needs of you and your loved ones into account. The Indianapolis estate planning attorneys at Frank & … [Read more...] about Considering Your Family’s Needs in Your Estate Plan
