Indianapolis estate planning lawyers can provide you with help if you are a parent or other caregiver of young children. It is imperative that you put plans in place in order to ensure that your children are cared for if something should happen to you and you become unable to raise them into adulthood.
Frank & Kraft can help you to address the key issues that matter when it comes to making sure that you provide stability and security for children in the event that something happens to you. We can also help grandparents and other close relatives to appropriately structure an inheritance for minor children so that the money is used appropriately, managed until the child is an adult, and provided to the child at an appropriate time.
To find out more about how Indianapolis estate planning lawyers at Frank & Kraft can help you to ensure that the minor children who you care about will be safely provided for, give us a call today.
How Indianapolis Estate Planning Attorneys Help You Make Sure Minor Children are Provided For
Indianapolis estate planning attorneys at Frank & Kraft will assist you in addressing the key issues that you need to handle in making sure that your children are cared for even if you cannot raise them to adulthood. These issues include choosing who will serve as the guardian for your children and raise them, and how your children will be financially supported.
You can select a guardian for your children by expressing your preferences clearly regarding who should raise your kids when you cannot do so. You can make plans for who will care for your kids both in case of your incapacity and in case of your untimely death. If the other parent is available and capable, typically the other parent would become the guardian for your children automatically. However, if you are a single parent or if both parents pass away, it can be especially important to have a plan in place regarding who will care for the children.
You don’t want your kids to end up in the middle of a custody battle or being raised by a person who you don’t think shares your values or your parenting philosophy, so you need to ensure that you have the right tools in place to control who raises your children when you cannot.
You also want to ensure that money is available for your child’s care, and likely for your child’s education as well. This could mean purchasing life insurance or simply structuring an inheritance of your assets in an appropriate way.
The Uniform Transfers to Minors Act streamlines the process of naming a guardian to manage money on behalf of a minor children, or you can use a trust to take much more control over who should manage funds left to a child, how those funds should be distributed, and what conditions if any would need to be met for the child to eventually inherit and begin managing the funds on his or her own after reaching adulthood.
Frank & Kraft can help you to decide which legal tools to use and can assist you in making sure the plans you put in place to provide care for your minor children are legally enforceable.
Getting Help from Indianapolis Estate Planning Lawyers
Indianapolis estate planning lawyers at Frank & Kraft can provide you with personalized help and support when it comes to planning for the future. This includes making plans for your minor children in case something happens to you. We also provide guidance to parents of children of all ages, as well as to people without children whether they are married or single.
Your estate plan always needs to be personalized to your family and life situation, and we can provide the assistance you need to make effective use of legal tools to put a plan in place that works for you. To find out more about how we can assist you with taking control over your future and ensuring that your loved ones are always going to be provided for, join us for a free seminar. You can also give us a call at 317-684-1100 or contact us online today.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.