When you create a Last Will and Testament, you do so in the hope that it will provide a roadmap for your loved ones to follow during the administration of your estate after you are gone. Ideally, your Will should make the handling of your assets easier and less stressful for your loved ones. The […]
Estate Planning
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Veterans Benefits and the Surviving Spouse
If you are the surviving spouse of a veteran, you have made the ultimate sacrifice for the United States and everyone living here. While there is nothing that can ever truly compensate you for that sacrifice, there may be some benefits to which you are entitled as a result of your status as a surviving […]
Using a Living Trust to Avoid Leaving a Lump Sum Inheritance
When you create your estate plan you will need to make a number of important decisions. Along with deciding who to gift assets to, you will also need to decide how to gift those assets. For example, an Indianapolis estate planning attorney at Frank & Kraft explains how a living trust can help you avoid […]
Who Decides If Someone Is Incapacitated?
You probably don’t like to think about it; however, the reality is that the possibility of becoming incapacitated at some point down the road does exist. Because it is a possibility, it should be addressed in your estate plan to ensure that your wishes are honored in the event you do become incapacitated. It also […]
If a Beneficiary Dies During Probate What Happens to the Inheritance?
Probate can be a complex and complicated process under the best of circumstances and when everything goes as planned. Things don’t always go as planned though. For example, a beneficiary could also pass away during the probate of an estate. An Indianapolis probate attorney at Frank & Kraft explains what happens if a beneficiary dies […]
Is Your Power of Attorney Powerless? What to Do When a Third Party Won’t Honor an Agent’s Authority
A Power of Attorney is one of the most commonly used estate planning documents due in large part to how flexible it can be. Consequently, most people are familiar with what a Power of Attorney does and how to use one. When all goes as planned, a Power of attorney is extremely useful and easy […]
Are There Different Types of Special Needs Trusts?
Estate planning is always important for parents of young children. That same planning takes on a heightened importance when you are the parent (or grandparent) of a child with special needs. In fact, without proper planning, your efforts to provide for your child could actually do more harm than good. One estate planning tool […]
Are There Different Types of Special Needs Trusts?
Estate planning is always important for parents of young children. That same planning takes on a heightened importance when you are the parent (or grandparent) of a child with special needs. In fact, without proper planning, your efforts to provide for your child could actually do more harm than good. One estate planning tool […]
How Much Might I Receive in Veterans Aid & Attendance Benefits?
If you are a veteran, or the surviving spouse of a veteran, you likely know about a number of benefits to which you are entitled as a result of your service and dedication to your country. One program you may not be aware of, however, is the Veterans Aid and Attendance (VA&A) program. The Indianapolis […]
How Much Might I Receive in Veterans Aid & Attendance Benefits?
If you are a veteran, or the surviving spouse of a veteran, you likely know about a number of benefits to which you are entitled as a result of your service and dedication to your country. One program you may not be aware of, however, is the Veterans Aid and Attendance (VA&A) program. The Indianapolis […]
Will Millennials Ever See the Wealth of the Baby Boomer Generation?
The older population in the United States is already making history as the largest population of seniors ever recorded. A primary reason for the dramatic increase in the number of older Americans is the aging of the Baby Boomers. As they move into their retirement years, they are breaking records causing everyone to take notice. […]
Estate Planning Advice for Remarried Individuals
No matter if you are in a second or subsequent marriage, individuals who have been previously married often face a number of unique issues that influence the estate planning process. As a result, it is critical to take these factors into consideration when performing estate planning. By following these steps, a person can avoid a […]
How to Retain Control over Medical Decisions if You Become Incapacitated
One of the great challenges of estate planning is that most of the decisions made will be carried out after a person is no longer alive. For some people, this means that they need not worry about estate planning because they will not be around to see how it is carried out. Other people worry […]
Deciding what State Law Should Apply to Your Trust
There are a number of complex issues involving the creation and administration of a trust. One of these issues involves which state’s laws should apply to the trust’s administration. The best estate planning lawyers often discuss with clients the differences between available estate laws so the best possible results can be reached. During this critical […]
When Should Inheritance Planning Begin?
You may be under the common misperception that you need to have an actual inheritance built up before the need for inheritance planning arises. In reality, however, inheritance planning should start much earlier than you likely thought it should. In fact, it is never too early to get started on your inheritance plan because a […]
What Assets Can You Have and Still Qualify for Medicaid in Indiana?
Seniors are often surprised when they realize they may need to rely on Medicaid to help them cover the high costs associated with long-term care. Even more worrisome are the eligibility guidelines that include both income and asset limits that can put your retirement nest egg at risk if you failed to plan ahead. The […]
Is a Trustee Held Personally Liable for Mistakes?
If you recently learned that you were appointed to be the Trustee of a trust, and this is the first time you have served as a Trustee, you probably have a number of questions. At the top of that list may be your concerns over the possibility of being held personally liable if you […]
Lessons Learned from Hegadorn v. Dept. of Human Services
The Michigan Supreme Court recently decided the case of Hegadorn v. Dept. of Human Services, which involves the Medicaid spend down process. A “spend down” in this context refers to the process of reducing the assets of a person applying for Medicaid so the individual qualifies for Title XIX Medicaid coverage. Spend down also refers […]
Common Lies that People Hear about Estate Planning
It’s understandable that people avoid estate planning. Plotting for what happens after we die can be a scary and uncomfortable thought process. To make sure that you receive the best care possible and that your loved ones receive assets from your estate, however, it is critical to create an estate plan that will be able […]
Avoiding the Common Errors Presented by Online Estate Planning Documents
Our experienced estate planning lawyers have helped a number of people create estate plans that can be used to carry out their wishes. We have also encountered a number of clients who attempted to create online estate planning documents, but who ended up facing expensive and substantial obstacles. Do it yourself estate planning documents, however, […]