There is a very good chance you will decide to incorporate at least one trust into your estate plan given how popular trusts are. In fact, you might choose to create a secret or semi-secret trust. A Plainfield area trust attorney at Frank & Kraft explains what a secret trust is and why you might want one. The Last Will and Testament Most people are familiar with the concept of a Will. At its most basic, a Will is a legal document that allows the Testator (person executing the Will) to … [Read more...] about Should I Create a Secret Trust?
Blog
Estate Planning for Parents with Young Children
Estate planning is something that every adult should think about and work on with an experienced estate planning attorney. For the parents of minor children, however, having an estate plan in place takes on heightened importance. Although no parent wants to dwell on the possibility that something could take them away from their children, the reality is that death or incapacity could do just that at any time and without warning. To help you get started with your estate plan, an Indianapolis … [Read more...] about Estate Planning for Parents with Young Children
Guidelines for an Executor of an Estate in Indiana
Almost one-half of American adults do not have so much as a basic Last Will and Testament in place. In the absence of a Will, the state intestate succession laws decide who will get all of your assets when you pass. For this reason alone, executing a Will should be a top priority. When you create your Will, you will be required to appoint an Executor. After you pass, your Executor will oversee the probate of your estate. Executors play a vital role in ensuring that your property transfers … [Read more...] about Guidelines for an Executor of an Estate in Indiana
Does Indiana Have an Inheritance Tax?
When most people think about estate planning, they think about making decisions regarding the distribution of their estate assets when they are gone. While that is certainly an important part of an estate plan, it shouldn’t be the only consideration when you create your estate plan. For example, the impact taxes will have on your plan should also be taken into consideration. An Indianapolis estate planning attorney at Frank & Kraft discusses whether you need to worry about an Indiana … [Read more...] about Does Indiana Have an Inheritance Tax?
Wills and Trusts General Information
You will likely use a simple Last Will and Testament as the foundation for your initial estate plan. Over the course of your lifetime though, your estate and your family may grow, calling for additional estate planning strategies and tools to address that growth. For many people, adding a trust is the next step. You may even decide to rely on that trust as your primary vehicle for the distribution of your estate assets. To help you learn more about both, an Indianapolis estate planning attorney … [Read more...] about Wills and Trusts General Information
5 Ways to Avoid Probate
Probate avoidance is among the most common of all estate planning goals. If you hope to limit, or even eliminate, your estate’s exposure to the probate, you must plan accordingly. Toward that end, an Indianapolis estate planning attorney at Frank & Kraft explains five ways to avoid probate. What’s the Big Deal about Probate? When an individual dies, the assets owned by that individual at the time of death make up the decedent’s estate. Probate is the term given to the legal process … [Read more...] about 5 Ways to Avoid Probate
How to Include Your Pet in Your Estate Plan
If you have a family pet, you probably consider that pet to be a member of the family. You undoubtedly schedule regular visits to the veterinarian to make sure your beloved pet is healthy and happy as well as make plans for your pet’s care when you leave town. One thing you may not have done yet though is include your family pet in your estate plan. As part of the family though, your pet should be included in your plan. An Indianapolis estate planning attorney at Frank & Kraft discuss how to … [Read more...] about How to Include Your Pet in Your Estate Plan
Estate Plan Updates for Seniors
Creating a comprehensive estate plan is one of the most valuable gifts you can give to yourself and to your loved ones. An estate plan that functions as intended will protect your assets and help them grow over the course of your lifetime 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, however, you are not done yet because reviewing and revising your existing estate plan is just as important as … [Read more...] about Estate Plan Updates for Seniors
Top 5 Reasons to Choose Your Executor Wisely
For most people, the first estate planning document they create is a Last Will and Testament. When you create your Will, your focus will likely be on the gifts you make to loved ones in your Will. While the distribution of your estate assets is certainly an important aspect of creating your Will, the appointment of an Executor is also important. In fact, your choice of Executor is probably much more important than you realize. A Carmel estate planning attorney at Frank & Kraft offers five … [Read more...] about Top 5 Reasons to Choose Your Executor Wisely
What Is Trust Administration?
Although once used almost exclusively by wealthy families, trusts are now commonly found in the average person’s estate plan. If you are contemplating the addition of a trust to your estate plan, it is important that you choose the right Trustee to administer that trust. Understanding the trust administration process a little bit better may help you choose the right Trustee. Toward that end, an Indianapolis trust administration attorney at Frank & Kraft explains what is involved in … [Read more...] about What Is Trust Administration?
