Your Final Arrangements

Wednesday, July 8th, 2009

Recently, Indiana took another stab to address uncertainty in the final arrangements of a person.  It was mandated that starting July 1, any person may execute an FPD (Funeral Planning Declaration).  When you execute an FPD, you can nominate anyone to be a “designee” - this person will carry out your final instructions.

The form is so easy and simple to understand.  In your FPD, you can leave instructions regarding grave memorial, ceremonial services, funeral, entombment, cremation, and burial.

The traditional way that you can plan final arrangements is through a will.  Unfortunately, some beneficiaries don’t know where the will is; and in some case, the deceased was already buried when they’ve found it. 

Another common way is to preplan by going to a funeral home.  This means that you make decisions based on a field expert’s guidance.  But who wants to go to a funeral home to begin planning?  The reality is that people think it’s creepy to discuss an estate plan in a funeral home.

Truly, one of the most difficult parts of estate planning would involve final arrangements.  These issues could also become complicated if there are mixed families, second spouses, or the members of the family just won’t get along.

Tags: estate plan, Estate Planning, final arrangements, FPD, funeral home, Indiana, instructions, preplan, will
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Avoid Inheritance Tax on Proceeds of Life Insurance

Saturday, July 4th, 2009

Generally, life insurance proceeds aren’t subject to Indiana Inheritance Tax.  An exception to this rule occurs when proceeds are payable to the estate of the descendant, either because the estate was named as beneficiary or the deceased failed to name any beneficiary.

A few months ago, however, the list server of Indiana Probate Bar was actively discussing this fact - Indiana’s DOR (Department of Revenue) was taking expanded interoperation of the section in the code authorizing an inheritance tax on the proceeds of life insurance.

Apparently, DOR decided that if the life insurance proceeds are payable to one’s trust, then this trust is authorized to pay debts or administrative expenses of the decedent, and the proceeds would be subject to Inheritance Tax.

However, the code should not be interpreted that way.  The schedule B of Indiana Inheritance Tax Return - the only place that lists life insurance proceeds which says that “life insurance is payable to estate.”  Armed with this, many attorneys take the position that life insurance are not required to be filed on Inheritance Tax return and be subjected to Inheritance tax unless the proceeds are payable to one’s estate.

Tags: attorneys, DOR, estate, Indiana, inheritance tax, life insurance, proceeds
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DUI Laws Blog is open!

Wednesday, August 6th, 2008

This blog will feature DUI laws in all 50 states of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia*, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming

Tags: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia*, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
Posted in Uncategorized, dui attorney, dui california, dui florida, dui illinois, dui laws, dui lawyers, dui new jersey, dui oregon | No Comments »