The wife and personal representative of a man who died in 2018 must provide more than $351,000 she cashed from an account that a trial court ruled belonged to the deceased’s daughter, the Indiana Court of Appeals affirmed Monday.
A split appellate panel reversed in a trust dispute between siblings on Monday, concluding that the language in their mother’s trust regarding her son was ultimately a restraint on marriage and therefore void.
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.
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.
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.
Prior to 2019, Hoosiers interested in creating a directed trust had to leave the state to do so. Now they do not, and Indiana banks and trust companies have a new product to offer customers and will be able to attract business from other states that still do not allow for directed trusts.
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.
An ex-Indiana judge whose former law office is accused of stealing hundreds of thousands of dollars from an estate he established that was meant to go to charity has been sanctioned — as has his defense attorney — after a judge ruled they made false statements and attempted to mislead the court in the charity’s civil lawsuit.
A woman who filed a legal malpractice claim in a matter that began more than 20 years ago failed to convince the 7th Circuit Court of Appeals that her complaint over the distribution of a trust was timely.
The Indiana Court of Appeals in an interlocutory appeal has affirmed for a brother in a sibling squabble over Southern Indiana real estate and property left by their mother after her death.
We return to the scenario presented in a previous article, “Premortem validation could help avert will, estate contests” (Indiana Lawyer, Oct. 16, 2019). Recall that the mother (“mom”) changed her will six months before her death, giving the entire estate to her caregiver-daughter (“daughter”) and leaving nothing for her out-of-town son (“son”). Since Indiana has not yet enacted pre-mortem validation statutes for wills or trusts, daughter and son must argue the validity of the final will in court after mom has passed. This article discusses how the scenario (and a similar one dealing with a revocable trust) might play out under current Indiana law.
We are almost halfway through 2020 and have seen the stock market fall, rally and fall again. We have been trapped in our houses unable to help our unstable economy, attempting to find new hobbies to pass the time and, of course, practicing social distancing. The silver lining to this pandemic is that it has provided an opportunity for us to better ourselves, and with falling interest rates, transfer our clients’ wealth to the next generation.
The coronavirus pandemic seems to be the push many people needed. Most clients, estate planning lawyers say, tend to put off preparing their documents, usually believing that they still have time. But with the continuance of the COVID-19 pandemic and the daily coverage of case counts and death tolls, attitudes have changed.
Longtime partner John E. Hegeman of Kahn, Dees, Donovan & Kahn in Evansville died Friday at Walnut Creek Center, the firm announced Saturday.
Three children who were provided for under terms of a trust established for their father by their great-grandmother remain entitled to their share of proceeds despite their adoption out of the family, the Indiana Court of Appeals ruled Wednesday.
A widow who contested whether she could satisfy her election to take against the will of her deceased husband when he transferred the majority of his assets into a revocable trust lost her appeal to the Indiana Court of Appeals on Tuesday.
A dispute between step-siblings over profitable real estate did not result in the brother’s favor Friday, when the Indiana Court of Appeals found a trial court did not clearly err in declaring transfers of the property to him as void ab initio.
One of the saddest parts of my job is when a victim of an unscrupulous lawyer calls, asking in exasperation, “Is there anything that can be done about this?” The very saddest part is the realization that, deep down, the caller already knows the answer is no, or next to no. The legal profession has no contingency when one of its own who swore an oath goes rogue and steals from vulnerable clients. This must change.
A suspended Greenwood lawyer accused of stealing hundreds of thousands of dollars from disabled and injured clients whose special-needs trusts he established and then allegedly used for his own purposes is in jail in Muncie, where he may remain until standing trial on criminal charges around the state. Kenneth “Shane” Service, 46, was booked into the Delaware County Jail on Thursday, according to jail records.
The Indiana Court of Appeals has affirmed for more than a dozen grandchildren in their fight to secure heirship in the distribution of trust property.