As your estate plan grow, there is a high probability that you will eventually incorporate a trust into that plan. If so, you will need to appoint a Trustee to administer the trust. One question you may have at that point is “How is a Trustee compensated?” The Carmel area trust attorneys at Frank & Kraft explain the basics of trust administration, including Trustee compensation. Trust Basics A trust is a legal relationship where property is held by one party for the benefit of another … [Read more...] about How Is a Trustee Compensated?
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Picking the Administrator of Your Estate?
If you are in the process of creating your Will, be careful not to overlook the importance of the Executor you appoint because he/she will be responsible for overseeing the administration of your estate after you are gone. One of the most common estate planning mistakes people make is to appoint someone as the Executor of their estate without giving the matter due consideration. The Indianapolis estate planning lawyers at Frank & Kraft explain how to pick the right person for the … [Read more...] about Picking the Administrator of Your Estate?
Is Your Estate Plan Up to Date?
An estate plan that functions as intended will help protect and grow your assets as well as ensure that your loved ones are provided for in the event of your death or incapacity. If you have an estate plan in place already, you are ahead of most Americans; however, you are not done yet. In fact, updating your existing estate plan is just as important as creating the initial plan because an out of date estate plan can wreak havoc on your estate if something happens to you. The Indianapolis estate … [Read more...] about Is Your Estate Plan Up to Date?
Why Should Funeral Planning Be in My Estate Plan?
A well thought out estate plan can protect you and your loved ones while you are alive as well as after you are gone. For your plan to fully protect you and your loved ones though, you will need to contemplate a subject matter that will not be particularly comfortable –your own funeral and burial. The Indianapolis estate planning lawyers at Frank & Kraft explain why funeral planning should be part of your estate plan. The Cost of Dying Thinking of your death and funeral in terms of the … [Read more...] about Why Should Funeral Planning Be in My Estate Plan?
Understanding Your Power of Attorney
A Power of Attorney (POA) can help accomplish such a wide range of estate planning goals that you will likely include one in your plan at some point. Unfortunately, the familiar nature of POAs means that they are also frequently misunderstood, misused, and abused. Executing the wrong type of Power of Attorney can be a costly mistake. To help prevent you from making a mistake, the Indianapolis estate planning attorneys at Frank & Kraft help you to understand your Power of … [Read more...] about Understanding Your Power of Attorney
What You Need to Know about Medicaid
Although you may not realize it, there is a very good chance that you will need to qualify for Medicaid at some point in the future. If Medicaid eligibility is something you have never before had to worry about, you might find yourself facing the loss of significant assets should you need to rely in Medicaid at some point. To help prevent that from occurring, the Indianapolis Medicaid planning attorneys at Frank & Kraft explain what you need to know about Medicaid. The Cost of Long-Term … [Read more...] about What You Need to Know about Medicaid
How Might an Incentive Trust Fit into Your Estate Plan?
Like many people, one of your primary estate planning goals will probably be to ensure that you leave behind sufficient assets that your loved ones are well cared for when you are gone. You may also wish, however, to have some continued influence over your loved ones, even in your absence. An Indianapolis trust attorney at Frank & Kraft explains how an incentive trust might be able to help you to retain a certain amount of influence over the beneficiaries of your trust. Understanding … [Read more...] about How Might an Incentive Trust Fit into Your Estate Plan?
Steps to Take When Creating Your Will
For most people, estate planning begins with creating and executing a Last Will and Testament. While that sounds simple enough in the abstract, over half of all Americans do not have even a basic Will in place. One of the most common reasons people give for not having a Will is that they are unsure of where or how to begin. The best way to ensure that your Will accurately reflects your wishes and can withstand any challenges that might be raised during the probate process, is to work … [Read more...] about Steps to Take When Creating Your Will
Trustee Discretion – How Much Is Too Much?
Many people choose to include at least one trust in their comprehensive estate plan. If that includes you, one of the most important decisions you will need to make when creating your trust is who to appoint as your Trustee. In addition, you will need to decide how much discretion your Trustee will have. Toward that end, the Indianapolis trust attorneys at Frank & Kraft discuss how much discretion your Trustee should have. Trust Basics A trust is a relationship whereby property is held … [Read more...] about Trustee Discretion – How Much Is Too Much?
How Do I Apply for Medicaid in Indiana?
Do you need to apply for Medicaid for seniors in Indiana for yourself or for a loved one? If so, and you are unfamiliar with the Medicaid program, it can be a little intimidating. To help get you started, the Plainfield area Medicaid lawyers at Frank & Kraft explain how to apply for Medicaid in Indiana. Why Would I Need Medicaid? Throughout your working years, you may have relied on employer sponsored or privately purchased medical insurance to cover your medical expenses. As you … [Read more...] about How Do I Apply for Medicaid in Indiana?
