Investment/Estate Planning

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 Further, in 2013, Indiana repealed its inheritance tax.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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Business agreements provide roadmap for changes in family-run enterprises

September 11, 2013
Marilyn Odendahl
Integrate family into small business ownership and the potential for rivalry, high emotions and different agendas increases, especially as the business is passed from one generation to the next. The dispute rocking the Holiday World & Splashin’ Safari theme park in southwest Indiana shows what can happen when a family fights over a business but, attorneys say, it is an extreme and uncommon situation. Usually members of a family or multiple shareholders in a closely held company work through their dispute outside the courtroom.
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Edward Thomas: Tips on determining testamentary capacity

September 11, 2013
Lewis Wagner attorney Edward Thomas discusses in the IL's Estate Planning focus section testamentary capacity and other considerations that go into creating a will.
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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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Undisputed will makes daughter’s appointment as special administrator improper

July 30, 2013
Marilyn Odendahl
Because the special administrator provision in the Indiana Code did not apply, the Indiana Court of Appeals has ruled the trial court did not abuse is discretion when it removed a special administrator of an estate without considering the state statute.
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Tax court affirms classification of beneficiaries

June 28, 2013
Dave Stafford
A Hamilton County judge correctly classified beneficiaries as Class B and Class C transferees, subjecting them to higher taxes under Indiana’s inheritance tax, the Indiana Tax Court ruled Friday.
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Nursing home can’t collect from estate under doctrine of necessaries

June 27, 2013
Jennifer Nelson
A Connersville nursing home can’t seek to collect on expenses for a patient after her death from the estate of her husband under the doctrine of necessaries, the Indiana Court of Appeals ruled, because the facility didn’t first seek to collect from the patient.
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Injured man who sued estate can only recover insurance policy limits

June 21, 2013
Jennifer Nelson
A man who was injured in an auto accident with a woman who died the following year cannot recover any funds from her estate, the Indiana Court of Appeals ruled. But the trial court didn’t err in denying the estate’s motion to amend the jury award, because it is a valid judgment despite that the man can only recover funds available under the policy limits of the woman’s insurance policy.
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Grandchildren not entitled to proceeds of land sale under will

June 7, 2013
Jennifer Nelson
A Monroe Circuit judge did not err in denying a motion by three grandchildren to correct errors in which they claimed that they, instead of their grandmother’s second husband, should have received the proceeds of the sale of land in Bloomington. The Indiana Court of Appeals held the Bloomington residence was adeemed by extinction, so the proceeds of the sale pass to Cora Young’s second husband, Theodore.
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7th Circuit orders Indiana case sent back to Ohio

May 23, 2013
Jennifer Nelson
A federal judge in the Southern District of Indiana erred when she determined that a claims adjuster from Ohio was fraudulently joined to a case that was transferred out of federal court in Ohio to Indiana, the 7th Circuit Court of Appeals ruled. The case also presented two issues of first impression for the Circuit.
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Taxed to death no more

May 22, 2013
Dave Stafford
The fate of the inheritance tax in Indiana went from a slow, lingering demise over the next decade to sudden death in the biennial budget lawmakers approved this session.
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Attorneys must financially prepare for life during retirement

May 22, 2013
Marilyn Odendahl
Law firms use 401(k)s to help employees save for their golden years.
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Judge says bank can pursue suit against broker

March 18, 2013
Scott Olson
The Peoples State Bank of Ellettsville can move forward with its lawsuit against broker Stifel Nicolaus & Co., which the bank claims duped it into investing $13 million in auction-rate securities just before those markets froze up.
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Indiana's longest-serving attorney will retire from practice at 96

March 13, 2013
Dave Stafford
Alexis “Alex” Thomas Cholis is winding down his law practice. More than 70 years after admission to the bar, he’s decided it’s time.
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Lake County man warned against disparaging bench

March 8, 2013
Dave Stafford
A Lake County man with a history of filing unsupported allegations and derogatory comments in pleadings was rebuffed on his latest appearance before the Indiana Court of Appeals, which warned him against disparaging the bench.
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Judges rule in favor of bank on request to end trust

February 15, 2013
Jennifer Nelson
A beneficiary of a trust couldn’t prove to the Indiana Court of Appeals that the purpose of the trust, created by her mother, was to benefit any grandchildren and because there are no grandchildren, the trust should be terminated.
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Judges interpret Probate Code statute in favor of bank

February 13, 2013
Jennifer Nelson
Finding that a bank did not receive proper notice in order to file a claim against an estate, the Indiana Court of Appeals reversed summary judgment in favor of the estate of Samuel Tolley on the bank’s two claims.
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COA rules in favor of grandchildren in will dispute

January 24, 2013
Jennifer Nelson
The Indiana Court of Appeals had to interpret a handwritten will from 1917 in a dispute among those who stood to inherit land in Benton County. The appellate court determined that the trial court properly ruled that John and Karen LeFebre could collectively receive a one-third share in the acreage.
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Detailed settlement agreement not specific enough for son to claim funds

January 15, 2013
Marilyn Odendahl
Although a settlement agreement worked out between siblings included details about who would receive the comic books, the Indiana Court of Appeals ruled because the document did not specifically address the accounts receivable, one of the surviving sons would not be entitled to the money.
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Settlement ends bitter battle over Mel Simon estate

December 12, 2012
Cory Schouten
A bitter battle over the $2 billion estate of the late shopping mall tycoon Melvin Simon has ended with a confidential settlement.
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E-state planning

November 21, 2012
Dave Stafford
Will your Facebook account, online presence and virtual world live on after you? The rise of social media and proliferation of online accounts are posing such real-life questions for lawyers who concentrate in estate planning. But it remains an evolving question how wills, trusts and power of attorney grants will address these and other staples of the Internet age.
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  1. Major social engineering imposed by judicial order well in advance of democratic change, has been the story of the whole post ww2 period. Contraception, desegregation, abortion, gay marriage: all rammed down the throats of Americans who didn't vote to change existing laws on any such thing, by the unelected lifetime tenure Supreme court heirarchs. Maybe people came to accept those things once imposed upon them, but, that's accommodation not acceptance; and surely not democracy. So let's quit lying to the kids telling them this is a democracy. Some sort of oligarchy, but no democracy that's for sure, and it never was. A bourgeois republic from day one.

  2. JD Massur, yes, brings to mind a similar stand at a Texas Mission in 1836. Or Vladivostok in 1918. As you seemingly gloat, to the victors go the spoils ... let the looting begin, right?

  3. I always wondered why high fence deer hunting was frowned upon? I guess you need to keep the population steady. If you don't, no one can enjoy hunting! Thanks for the post! Fence

  4. Whether you support "gay marriage" or not is not the issue. The issue is whether the SCOTUS can extract from an unmentionable somewhere the notion that the Constitution forbids government "interference" in the "right" to marry. Just imagine time-traveling to Philadelphia in 1787. Ask James Madison if the document he and his fellows just wrote allowed him- or forbade government to "interfere" with- his "right" to marry George Washington? He would have immediately- and justly- summoned the Sergeant-at-Arms to throw your sorry self out into the street. Far from being a day of liberation, this is a day of capitulation by the Rule of Law to the Rule of What's Happening Now.

  5. With today's ruling, AG Zoeller's arguments in the cases of Obamacare and Same-sex Marriage can be relegated to the ash heap of history. 0-fer

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