Trusts

Who will step forward to claim Prince's millions?

April 26, 2016
 Associated Press
When he was alive, Prince made hundreds of millions of dollars — for record companies, concert venues and others. That much is certain. What's less clear is how much he left behind and who'll come forward to claim it.
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Probate study committee bill hoping for governor’s approval

March 22, 2016
Marilyn Odendahl
Supporters were successful this year in getting the Statehouse to approve legislation that re-establishes the Probate Code Study Commission, but they’re still awaiting the governor’s signature.
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COA overturns trust validity case

March 10, 2016
Scott Roberts
A redacted copy of a living trust did not stop a woman from challenging and winning her charge that a trial court improperly dismissed her complaint contesting validity of the trust.
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Do-it-yourself dangers

January 27, 2016
Dave Stafford
Where there’s a will, there’s a way to do it yourself with Internet services such as LegalZoom, Nolo and Rocket Lawyer. But attorneys say relying on online form providers for long-term financial and estate planning may not be the wisest investment.
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Study commission repeal endangering probate code needs

January 27, 2016
Marilyn Odendahl
Since the Probate Code Study Commission was eliminated as part of a 2014 law that reduced the number of interim study committees, certain legislators and attorneys have mounted an effort to get the commission reinstated.
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FSSA incorrectly imposed transfer penalty on Medicaid recipient

November 18, 2015
Jennifer Nelson
Based on evidence presented that a Medicaid recipient’s home sold for $75,000 – the fair market value – and proceeds went back to the irrevocable trust that held legal title of the home, the Family and Social Services Administration incorrectly imposed a transfer penalty against the woman after it found the fair market value was $91,900, the Court of Appeals ruled Wednesday.
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Trust and the troubled child

October 21, 2015
Dave Stafford
Estate planning attorneys occasionally draw the strong-willed client who wants to leave money to an heir – but only if the kid sobers up, quits getting in trouble with the law, gets a job, stops living beyond his means, or changes behavior in some other way.
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JPMorgan Chase settles suit over Christ Church trust accounts

September 3, 2015
 Bloomberg News, IBJ Staff
JPMorgan Chase & Co. has settled a lawsuit accusing it of mismanaging the trust accounts of Christ Church Cathedral, the historic Monument Circle church endowed by descendants of drug company founder Eli Lilly.
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COA: Petitioner entitled to tax deed after completing all steps

July 21, 2015
Dave Stafford
An entity that bought two properties at a tax sale fulfilled all the requisite steps to acquire ownership of the parcels, the Indiana Court of Appeals ruled, rejecting an appeal from the trust that previously owned the properties.
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COA finds lease payments are part of Trust

July 8, 2015
Marilyn Odendahl
Siblings trading motions over their deceased father’s estate got multiple denials from the trial court.
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Record supports capping trustee fees at 1.5 percent

June 19, 2015
Jennifer Nelson
A trial court did not err when it concluded that a community foundation which took over acting as trustee of a charitable trust will have its fees capped at 1.5 percent of the trust’s annual assets, the Indiana Court of Appeals ruled Friday.
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Judge dismisses bulk of Christ Church suit against JPMorgan

May 22, 2015
Greg Andrews
A federal judge on Thursday dealt a major blow to Christ Church Cathedral’s lawsuit charging JPMorgan Chase & Co. caused $13 million in losses in trust accounts endowed decades ago by Eli Lilly Jr. via “intentional mismanagement” and “self-dealing.”
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Joint defense agreement does not prevent trust from suing attorney

March 18, 2015
Jennifer Nelson
On interlocutory appeal, the Indiana Court of Appeals affirmed that a joint defense agreement entered into by an attorney and the trust he helped to set up and for which he served as trustee did not bar the trust’s later lawsuit against him for claims arising from their business relationship.
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Court affirms $100,000 in attorney fees to bank for defending groundless claim

March 5, 2015
Jennifer Nelson
A woman who claimed a bank acting as trustee breached its fiduciary duties by selling stock of JP Morgan Chase over the course of several years is still on the hook for more than $100,000 in attorney fees and costs to the trustee, the Indiana Court of Appeals affirmed Thursday. The COA agreed Susan Moeder brought a groundless claim against Salin Bank and Trust Co. after it sought to resign as trustee.
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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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Language of trust overrides statutes, COA rules

November 17, 2014
Marilyn Odendahl
A man’s promise to sue his brother and deplete their father’s trust of its assets resulted in him being ordered to pay $13,166 in attorney fees to the trust.
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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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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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Appeals panel: Trust’s real property bequeath by later writing invalid

July 31, 2014
Dave Stafford
A panel of the Indiana Court of Appeals ruled Thursday that a mother’s specific gift of real property incorporated into trust documents was an invalid method of willing it to heirs.
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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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Insurance policy does not fall under Pre-Need Act

March 14, 2014
Jennifer Nelson
A Marion Superior Court correctly ruled that a company that sells an insurance policy with the option to assign it to a trust to use the funds for funeral services is not subject to the Pre-Need Act, the Indiana Court of Appeals ruled.
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COA: Bank lacks standing to appeal trust terminations

December 5, 2013
Jennifer Nelson
Old National Bancorp cannot appeal the termination of two trusts it served as a representative of, either in the representative capacity or on an individual capacity, the Indiana Court of Appeals held Thursday. As such, the court dismissed the appeal.
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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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Reversal: Trust bears liability for builder’s nonpayment despite lien notice discrepancies

September 13, 2013
Dave Stafford
A trust that won summary judgment at the trial court against a supplier of building materials for construction of a home on Lake Michigan got the opposite result from an appeals court Friday. The trust is liable, even though it paid builders who failed to reimburse the supplier for materials provided on credit.
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Appeals panel reinstates claims of capacity, undue influence in trust dispute

August 29, 2013
Dave Stafford
A family feud involving half-siblings contesting the trust bequeathed by their mother was improperly disposed of through summary judgment, a panel of the Indiana Court of Appeals ruled Thursday.
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  1. What a fine article, thank you! I can testify firsthand and by detailed legal reports (at end of this note) as to the dire consequences of rejecting this truth from the fine article above: "The inclusion and expansion of this right [to jury] in Indiana’s Constitution is a clear reflection of our state’s intention to emphasize the importance of every Hoosier’s right to make their case in front of a jury of their peers." Over $20? Every Hoosier? Well then how about when your very vocation is on the line? How about instead of a jury of peers, one faces a bevy of political appointees, mini-czars, who care less about due process of the law than the real czars did? Instead of trial by jury, trial by ideological ordeal run by Orwellian agents? Well that is built into more than a few administrative law committees of the Ind S.Ct., and it is now being weaponized, as is revealed in articles posted at this ezine, to root out post moderns heresies like refusal to stand and pledge allegiance to all things politically correct. My career was burned at the stake for not so saluting, but I think I was just one of the early logs. Due, at least in part, to the removal of the jury from bar admission and bar discipline cases, many more fires will soon be lit. Perhaps one awaits you, dear heretic? Oh, at that Ind. article 12 plank about a remedy at law for every damage done ... ah, well, the founders evidently meant only for those damages done not by the government itself, rabid statists that they were. (Yes, that was sarcasm.) My written reports available here: Denied petition for cert (this time around): http://tinyurl.com/zdmawmw Denied petition for cert (from the 2009 denial and five year banishment): http://tinyurl.com/zcypybh Related, not written by me: Amicus brief: http://tinyurl.com/hvh7qgp

  2. Justice has finally been served. So glad that Dr. Ley can finally sleep peacefully at night knowing the truth has finally come to the surface.

  3. While this right is guaranteed by our Constitution, it has in recent years been hampered by insurance companies, i.e.; the practice of the plaintiff's own insurance company intervening in an action and filing a lien against any proceeds paid to their insured. In essence, causing an additional financial hurdle for a plaintiff to overcome at trial in terms of overall award. In a very real sense an injured party in exercise of their right to trial by jury may be the only party in a cause that would end up with zero compensation.

  4. Why in the world would someone need a person to correct a transcript when a realtime court reporter could provide them with a transcript (rough draft) immediately?

  5. This article proved very enlightening. Right ahead of sitting the LSAT for the first time, I felt a sense of relief that a score of 141 was admitted to an Indiana Law School and did well under unique circumstances. While my GPA is currently 3.91 I fear standardized testing and hope that I too will get a good enough grade for acceptance here at home. Thanks so much for this informative post.

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