Establishing Miller Trusts
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Investment/Estate Planning
Articles
Duncan: Learn these estate planning changes
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 Further, in 2013, Indiana repealed its inheritance tax.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.
Wife barred from inheritance because of adulterous relationship
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.
Justices: Trustee of revocable trust serves self
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.
Court rules for widow in Holiday World suit
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.
Failure to register in Indiana opens door for state charges against Ponzi scheme mastermind
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.
Edward Thomas: Tips on determining testamentary capacity
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.
Business agreements provide roadmap for changes in family-run enterprises
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.
Appeals panel reinstates claims of capacity, undue influence in trust dispute
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.
Undisputed will makes daughter’s appointment as special administrator improper
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.
Tax court affirms classification of beneficiaries
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.
Nursing home can’t collect from estate under doctrine of necessaries
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.
Injured man who sued estate can only recover insurance policy limits
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.
Grandchildren not entitled to proceeds of land sale under will
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.
7th Circuit orders Indiana case sent back to Ohio
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.
Attorneys must financially prepare for life during retirement
Law firms use 401(k)s to help employees save for their golden years.
Taxed to death no more
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.
Judge says bank can pursue suit against broker
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.
Indiana’s longest-serving attorney will retire from practice at 96
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.
Lake County man warned against disparaging bench
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.