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.
Investment/Estate Planning
Articles
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.
Judges rule in favor of bank on request to end trust
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.
Judges interpret Probate Code statute in favor of bank
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.
COA rules in favor of grandchildren in will dispute
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.
Detailed settlement agreement not specific enough for son to claim funds
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.
Settlement ends bitter battle over Mel Simon estate
A bitter battle over the $2 billion estate of the late shopping mall tycoon Melvin Simon has ended with a confidential settlement.
Estate lawyers’ duty of responsibility clarified in proposed legislation
Estate attorneys are hoping the Indiana General Assembly will provide a remedy after a ruling by the Indiana Court of Appeals muddied the waters concerning the scope and duties of a lawyer working on behalf of an estate’s personal representative.