The 2013 Indiana budget bill, which was signed by Governor Pence on May 8, 2013, included a provision repealing inheritance taxes in the State of Indiana. The repeal is retroactively effective for individuals passing away on or after January 1, 2013.
While inheritance taxes have been one important reason for people to consider estate planning, the repeal does not change the need for all individuals to have an estate plan in place and up to date. Implementing a Last Will and Testament or a Trust can ensure that your assets transfer to the individuals and/or charities you choose, in the manner you desire.
About the Author
Shannon Frank, a Partner at Evansville law firm Kahn, Dees, Donovan & Kahn, LLP, has more than 20 years’ experience in the practice of business law, construction law, estate planning and probate administration, health care law, and real estate law. Shannon prides herself in giving exceptional service to her clients, recognizing that relationships with clients play a significant and essential role in providing tailored and comprehensive legal advice.
For more information on estate planning or Indiana’s repeal of inheritance taxes, contact Shannon Frank at (812) 423-3183 or SFrank@KDDK.com, or contact any member of the KDDK Estate Planning and Probate Administration Practice Team.