Investment/Estate Planning

Trust proposal in Legislature would shield assets from creditors, permit perpetuity

January 28, 2015
Dave Stafford
Assets could be shielded from creditors and passed down to numerous generations under a legacy trust proposal being considered by the Indiana General Assembly. The proposed estate-planning device would be exempt from the rule against perpetuities.
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Ex-prosecutor helps Ball State avert future fraud

December 8, 2014
 Associated Press
A former federal prosecutor and a CPA firm are evaluating Ball State University's internal financial controls and investment portfolio as they create a plan to prevent a repeat of two investment scams that cost the university more than $13 million.
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SCOTUS denial of cases opens door to new same-sex-couple issues

October 22, 2014
Marilyn Odendahl
Now that same-sex marriage is legal in Indiana, the courts will have to settle issues and questions that will arise in other areas, such as family law.
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On rehearing, panel clarifies ruling regarding Death Property Act

September 23, 2014
Dave Stafford
A promissory note between a mother and son did not transfer to the mother’s estate on her death, the Indiana Court of Appeals clarified in rehearing an estate dispute that reversed a trial court ruling.
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Economic harm is key part of gay marriage argument

September 10, 2014
Marilyn Odendahl
When the 7th Circuit Court of Appeals on Sept. 4 affirmed Indiana’s marriage law was unconstitutional, Judge Richard Posner’s opinion gave special nod to the economic harm married same-sex couples suffer by not receiving the tangible state and federal benefits that are extended to married opposite-sex couples.
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Lawyers say communication is key to long-term preservation of large estates

September 10, 2014
Dave Stafford
A fortunate few wealthy families are able to preserve their estates for more than a couple of generations, but attorneys say communication can improve the odds that a grantor’s grandchildren will have something left to pass on.
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Alerding/Latterell: A 2014 view of portability

September 10, 2014
Gift and estate tax planning has gotten easier for married couples thanks in part to a relatively new concept: porting of the federal gift and estate tax exemption to a surviving spouse.
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Thomas: When drafting a will, be as specific as possible

September 10, 2014
To ensure that your client’s property will go to the beneficiaries of his or her choosing, as opposed to the beneficiaries that the state chooses, it is imperative that the last will and testament be very specific and provide for as many contingencies as possible.
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Court affirms bank lacks standing to appeal termination of trusts

September 4, 2014
Jennifer Nelson
The Indiana Supreme Court agreed with the Court of Appeals that a bank’s appeal of the termination of two of its trusts must be dismissed for lack of jurisdiction. The bank, as trustee, lacked standing to appeal in its representative capacity and did not appeal in its individual capacity.
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Suits in triple-slaying proceeds case move ahead

August 15, 2014
 Associated Press
A former Indiana state trooper shouldn't be allowed to claim all $626,000 in insurance and estate proceeds from the deaths of his wife and two children 14 years ago, even though he was acquitted of their murders, attorneys representing the family members argue in civil lawsuits.
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Church accuses JPMorgan of mismanagement, self-dealing

August 14, 2014
Cory Schouten
Christ Church Cathedral in Indianapolis has filed a federal lawsuit against JPMorgan Chase, alleging the bank's "intentional mismanagement" and "self-dealing" led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
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Reed: ‘Gray divorce revolution’ alters traditional estate planning

July 16, 2014
Estate planning for “gray divorcees” presents unique challenges for their legal and financial planning professionals.
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Man had 3 months to bring claim to enforce contract, court rules

July 9, 2014
Jennifer Nelson
A son who sought to challenge his stepmother’s decision to revoke the will she made with his father had to bring his challenge within three months of the will being admitted to probate, not nine months as he claimed, the Indiana Court of Appeals ruled.
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Property conveyed by the entirety includes presumption of right of survivorship

July 3, 2014
Jennifer Nelson
In a question of first impression, the Indiana Court of Appeals Thursday held that when a property is conveyed by the entirety, there is a presumption the grantor intended to convey the property with the right of survivorship. It does not matter if the individuals are not husband and wife.
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COA split on retroactive application of Transfer on Death Property Act

June 25, 2014
Jennifer Nelson
The Indiana Court of Appeals agreed Wednesday that a trial court erred in concluding a promissory note executed between a mother and son is an asset of the mother’s estate, although the panel was split as to why the court erred.
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Guarding against undue influence

June 18, 2014
Dave Stafford
Changes in a person’s will and estate plan that vary from equal distribution of assets among heirs, as favored by law, should raise red flags, elder law attorneys say.
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Court rules gynecologist can’t testify on mental competency

June 4, 2014
Jennifer Nelson
A bank is able to foreclose on a mortgage against the estate of a deceased 95-year-old woman who opened the line of credit to pay her granddaughter to take care of her. But the elderly woman’s daughter argued the granddaughter unduly influenced Mildred Borgwald to open the account.
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Sisters can’t prove brother unduly influenced mother in crafting estate plan

May 29, 2014
Jennifer Nelson
The Indiana Court of Appeals affirmed the order by a trial court that the execution of an option contract by a woman to her son was enforceable. The woman’s daughters claimed the contract was a result of undue influence.
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Establishing Miller Trusts

May 21, 2014
Marilyn Odendahl
Attorneys offer their pro bono services to help nursing home residents keep their Medicaid benefits.
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PERF benefit to decline amid fund shortfall

May 21, 2014
Dave Stafford
Effective Oct. 1, the Indiana Public Retirement System will reduce the guaranteed interest rate for workers who choose to annuitize investments in their annuity savings accounts.
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Duncan: Learn these estate planning changes

January 15, 2014
After many years of complete uncertainty with the federal estate tax, there is now a law in place that provides some level of predictability. Further, in 2013, Indiana repealed its inheritance tax. Indiana’s inheritance tax was known as one of the most onerous of all the states and resulted in many snowbirds making Florida their permanent home.
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Wife barred from inheritance because of adulterous relationship

December 19, 2013
Jennifer Nelson
The Indiana Court of Appeals affirmed that a woman’s relationship outside of her marriage prevents her from inheriting from her deceased husband’s estate.
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Justices: Trustee of revocable trust serves self

November 22, 2013
Jennifer Nelson
The Indiana Supreme Court accepted a revocable trust case to answer the first impression question: While a trust is revocable, whom does the trustee serve? The justices concluded that an Indiana woman, as trustee, served herself.
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Court rules for widow in Holiday World suit

October 9, 2013
Marilyn Odendahl
The widow and children of the late William Koch Jr. can keep their shares in the southern Indiana theme park, Holiday World and Splashin’ Safari, after a ruling by the Indiana Court of Appeals concluded that William’s brother, Dan Koch, and Koch Development Corp. offered too little money for the shares.
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Failure to register in Indiana opens door for state charges against Ponzi scheme mastermind

September 13, 2013
Marilyn Odendahl
A split Indiana Court of Appeals ruled a man at the center of an alleged Ponzi scheme that defrauded nearly 72 victims in Ohio, Kentucky and Indiana will have to face state charges even though he pleaded guilty to a federal indictment.
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  1. Someone off their meds? C'mon John, it is called the politics of Empire. Get with the program, will ya? How can we build one world under secularist ideals without breaking a few eggs? Of course, once it is fully built, is the American public who will feel the deadly grip of the velvet glove. One cannot lay down with dogs without getting fleas. The cup of wrath is nearly full, John Smith, nearly full. Oops, there I go, almost sounding as alarmist as Smith. Guess he and I both need to listen to this again: https://www.youtube.com/watch?v=CRnQ65J02XA

  2. Charles Rice was one of the greatest of the so-called great generation in America. I was privileged to count him among my mentors. He stood firm for Christ and Christ's Church in the Spirit of Thomas More, always quick to be a good servant of the King, but always God's first. I had Rice come speak to 700 in Fort Wayne as Obama took office. Rice was concerned that this rise of aggressive secularism and militant Islam were dual threats to Christendom,er, please forgive, I meant to say "Western Civilization". RIP Charlie. You are safe at home.

  3. It's a big fat black mark against the US that they radicalized a lot of these Afghan jihadis in the 80s to fight the soviets and then when they predictably got around to biting the hand that fed them, the US had to invade their homelands, install a bunch of corrupt drug kingpins and kleptocrats, take these guys and torture the hell out of them. Why for example did the US have to sodomize them? Dubya said "they hate us for our freedoms!" Here, try some of that freedom whether you like it or not!!! Now they got even more reasons to hate us-- lets just keep bombing the crap out of their populations, installing more puppet regimes, arming one faction against another, etc etc etc.... the US is becoming a monster. No wonder they hate us. Here's my modest recommendation. How about we follow "Just War" theory in the future. St Augustine had it right. How about we treat these obvious prisoners of war according to the Geneva convention instead of torturing them in sadistic and perverted ways.

  4. As usual, John is "spot-on." The subtle but poignant points he makes are numerous and warrant reflection by mediators and users. Oh but were it so simple.

  5. ACLU. Way to step up against the police state. I see a lot of things from the ACLU I don't like but this one is a gold star in its column.... instead of fighting it the authorities should apologize and back off.

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