De Groff: Collectors of art, coins face estate planning hurdles
Estate plans for collectors of coins, art, stamps or other items will need to consider both the value and logistics of passing the collection to a new owner.
Investment/Estate Planning
Articles
Retzner: Get ready for gift and estate tax changes
With so much pending change, advising clients on wealth transfer planning is akin to advising the client to bet red, black or green on a roulette wheel.
COA: Guardian can deposit check but not exercise estate planning
Although an adult guardian properly deposited a check after his ward died, the trial court did not err in denying the guardian’s request to exercise estate planning, the Indiana Court of Appeals has ruled.
AP source: Ponzi schemer Bernie Madoff dies in prison
Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press.
COA affirms $245K judgment against brother in family farm dispute
An order for a brother to pay nearly $245,000, including more than $100,000 in attorney fees, in a dispute with his siblings over a breach of their mother’s revocable trust was affirmed Friday by the Indiana Court of Appeals.
Will dispute between siblings over family business assets remanded
A son who inherited the family business from his father must make his assets available for an appraisal after the Indiana Court of Appeals determined he may have received a “gift” subject to an abatement.
Guardians seek changes to assist in final arrangements
A guardianship task force has recommended that the Indiana Legislature amend state statute to give guardians authority over dispositions if necessary. While the concept received general support in a recent meeting of the Probate Code Study Commission, the question remained: how do you balance the authority of a guardian with that of another party, such as a POA?
Creating a ‘dynasty’: Probate proposal could amend Indiana Rule Against Perpetuities in trust laws
Currently, assets in an Indiana legacy trust must vest within 90 years, covering a few generations of heirs. But a proposal before the Probate Code Study Commission would quadruple that time to 360 years, allowing for the creation of Hoosier “dynasty trusts” for the first time.
COA ruling gives Dead Man’s Statute longer reach
Under the Indiana Dead Man’s Statute, the deceased can tell no tales, but a recent decision by the state’s Court of Appeals has created uncertainty over when the survivors can speak, particularly where it concerns trusts.
Boldt: Go with the flowchart to show the course for estate plans
A helpful tool to simplify complex scenarios for clients is the use of visual aids or flowcharts to demonstrate key portions of a will or trust. Particularly in a trust instrument, a diagram of how assets flow is often very helpful to clients and helps them understand things simply.
Appeals court rules for FSSA in health care transfer penalty dispute
Rulings on motions to dismiss a lawsuit brought by the Indiana Family and Social Services Administration and other entities against a now-deceased woman in a transfer penalty dispute were partially reversed Thursday by the Indiana Court of Appeals.
Will missing in estate fraud suit against disgraced lawyer, assistant
The original will at the center of a six-figure estate fraud case is missing, according to recent court filings in a civil lawsuit. Charities alleging the law firm that handled the estate absconded with the money also have subpoenaed the Indiana Supreme Court Disciplinary Commission for records in the related ethics case that led to the recent resignation of attorney and one-time judge Robert Monfort.
DTCI: A few estate planning strategies for peace of mind
Most people don’t want to think of their own mortality or the possibility that they may become incapacitated and incapable of expressing their health care wishes. Having an estate plan as well as a plan in place for end-of-life decisions will provide peace of mind for you and your family.
IndyBar: Overview of U.S.C. §529 College Savings Plans for Indiana Estate Planners
Named after the Internal Revenue Code section that governs them, Section 529 College Savings Plans (529 Plans) are higher-education savings plan trusts established under section 529(b) of the Internal Revenue Code as “qualified tuition programs.” 529 Plans offer tremendous benefits when planning for educational expenses.
COA reverses in part for widow in family’s trust dispute
The Indiana Court of Appeals has reversed in part a verdict against a widow in a family dispute stemming from her diversion of $8 million of her late-husband’s trust assets that effectively disinherited his son.
Split COA reverses award of stock following divorce mediation
A woman who was awarded half of a $122,000 stock account held by her former husband after the couple entered into a mediated divorce settlement agreement that didn’t mention the account was stripped of that share of the stock account on appeal Wednesday. However, a dissenting judge would have affirmed the grant of money to the ex-wife.
COA reverses denial of elderly man’s Medicaid application
An elderly man living in a nursing home was wrongly denied Medicaid benefits, the Indiana Court of Appeals ruled Tuesday, reversing a decision from the Indiana Family and Social Services Administration.
Economic excitement: Immigration law firm plans to boost businesses, communities with foreign investors
Marco Moreno was introduced to the idea of economic development by watching a rundown, forgotten neighborhood in Indianapolis get a second chance. He came to the Circle City to study law and was intrigued by the neighborhood redevelopment work. A few years later, his interest was reignited when he learned how regional centers were boosting international funding for projects designed to grow businesses and help communities in the United States. Now the immigration attorney is running a unique regional center in Indianapolis.
IndyBar: Creating a Financial Plan to Get Through a Market Recession
With the choose-your-own apocalypse nature of today’s new cycle, it’s hard for young attorneys to prioritize financial health. To that end, James Munder of Northwestern Mutual gave a great presentation last month on creating a financial plan to get through a market recession.
Supreme Court rules SEC can recoup money in fraud cases
The Supreme Court on Monday preserved an important tool used by securities regulators to recoup ill-gotten gains in fraud cases.