On July 1, 2021, Indiana significantly broadened the options for an individual to make health care wishes known through an “Advanced Directive for Health Care Decisions” (an “Advanced Directive”). Senate Enrolled Act No. 204 (“SEA 204”), effective as of July 1, allows individuals to make their…
Recently, the Indiana Court of Appeals issued an opinion that offers some guidance on how to properly change a joint account with rights of survivorship while living.
In Solomon v. Lindsey, 163 N.E.3d 302 (Ind. Ct. App. 2020), Paul Martin (“Martin”) opened an account with Rydex Series Trust. On the…
Change is coming, again, to the Federal Gift and Estate Tax laws. There are already proposals for increased income tax rates, increased corporate tax rates, increased tax rates on and taxability of multi-national corporations, and proposed increases in the number of employees at the Internal…
On October 26, 2020, the Internal Revenue Service (“IRS”) announced the official estate and gift tax limits for 2021. Currently, the estate and gift tax exemption equivalent is $11.58 million per individual (or $23.16 million for a married couple). For 2021, the exemption equivalent will increase…
COVID-19 is creating a number of unique estate planning and legal challenges, from actual execution of documents to the volatility of the financial markets. However, it also has created some unique opportunities in wealth transfer planning.
A. Core Estate Planning and Remote…
Indiana embarks on a bold, new planning strategy on July 1, 2019. As of that date, individuals will be able to avail themselves of “Legacy Trusts” as an additional method by which they can lawfully protect assets against creditors. Indiana residents have long been able to make gifts during life or…
While donor advised funds (“DAF” or “DAFs”) have been around since the 1930’s, they were not defined by statute until the Pension Protection Act of 2006 added Section 4966(d)(2) to the Internal Revenue Code. With the passage of President Trump’s Tax Cuts and Jobs Act in December of 2017 (“TCJA”),…
