What is a Totten’s Trust (or Poor Man’s Trust)?

A Totten’s Trust (also called a “poor man’s trust”) is essentially the same thing as a Pay on Death (“POD”) bank account.  (The name “Totten’s Trust” is taken from a 1904 New York case involving a person with this name.)  Using a POD account, a person was able to place proceeds into an account, and,

What is Indiana Probate, Why Avoid Probate, and What Estate Planning Documents Should I Have?

Probate is the process by which your assets are distributed to your heirs after your death. Only assets in your own name, with no joint owners or named beneficiaries, pass through probate. Joint and pay on death bank and brokerage accounts pass directly to the joint owner or the named beneficiary by operation of law

Key Indiana Estate Administration Statutes

Indiana has adopted a number of statutes that govern estate administration. For a list of the key estate administration statutes, please see this posting.

Indiana Inheritance Tax Repealed

Effective July 1, 2013, the Indiana legislature repealed the Indiana estate tax for Indiana residents dying on January 1, 2013 or thereafter.

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