Micah J. Nichols: Indiana has expanded ways to modify irrevocable trusts
Attorneys still should exercise caution when advising a client to do so, even if there are more methods than ever to modify irrevocable trusts.
Micah J. Nichols
Articles
Micah J. Nichols and Rodney S. Retzner: The uses and benefits of irrevocable life insurance trusts
The benefit of an ILIT, if structured properly, is that life insurance proceeds are not included in the client’s taxable estate.
Nichols and Retzner: Using a purpose trust in a business succession plan
The “purpose trust” should be in an estate planner’s “tool kit” and considered in a client’s business succession and charitable planning.
Retzner and Nichols: Disposing of tangible personal property in an estate plan
To make administration go smoothly, it is still important to consider disposing of tangible personal property as part of the overall estate plan and not simply “gloss over” those provisions.
Retzner and Nichols: The complicated world of creditors and nonprobate transfers
Beneficiaries need to understand that their inheritances may still be subject to claims in the estate. Creditors need to understand the process for proceeding against “nonprobate transferees” to preserve their rights.
Retzner and Nichols: Indiana’s new advance health care directive
On July 1, Indiana significantly broadened the options for an individual to make health care wishes known through an “Advance Directive for Health Care Decisions.”