Interest Groups

Bill Watch, March 4, 2016: Current Estate Planning & Administration Legislation of Note - Estate Planning and Administration News

Get the news you want the way you want it: click the RSS button in the right corner to add this feed to your RSS reader, or click here to subscribe to this content. By subscribing, you’ll find this news on your Member Account page, and the latest articles will be emailed to you in your customized IndyBar E-Bulletin e-newsletter.

Estate Planning and Administration News


Posted on: Mar 4, 2016

The IndyBar Legislative Committee is currently monitoring the following estate planning and administration related legislation. IndyBar members can request that the Legislative Committee track specific legislation by contacting committee chair Lawren Mills at Lawren.Mills@icemiller.com.

Click here to view the full Bill Watch reports.

SB31    PROBATE STUDY SUBCOMMITTEE. (ZAKAS J) Establishes a probate study subcommittee of the interim study committee on courts and the judiciary.

SB371    PROBATE MATTERS. (BRAY R) Provides that an individual otherwise qualified for certain property tax deductions for property that the individual occupies as a beneficiary of the trust that owns the property is not required to be considered the owner of the property under the rules of construction for the property tax law for the trust to receive the property tax deduction. Transfers certain inheritance tax duties from the probate court, county assessor, and county treasurer to the department of state revenue with respect to inheritance tax returns filed after March 31, 2016. Provides that a will contest must be initiated in a separate cause of action. Specifies the priority of a personal representative and stepchildren with respect to the disposition of a decedent's body and funeral arrangements. Specifies that a court must consider a standby guardian designation when appointing a guardian. Specifies that for purposes of a guardianship appointment, a person designated a standby guardian is second in priority to a person designated in a durable power of attorney. Specifies how property passes in a transfer on death transfer if the beneficiary disclaims the property. Makes technical corrections.

DID YOU KNOW?

Indianapolis Bar Association (IndyBar) est. 1878 | 4,536 Members (as of 2.11.21)