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Christopher Yugo

I have a will -- now what?

Q: I have completed my estate plan. I have a will and a power of attorney. What else should I do to make it as easy as possible on my kids? Should I give each of them a copy of the documents?

August 10, 2014 12:00 am

Understand the plan

I received a voice mail from a former client. The message indicated he needed to do some estate planning. He wasn't sure if he needed a living will or just a will, but he definitely needed something.

September 15, 2013 12:00 am

When is a distribution taxable?

Q: Why would my accountant tell me that my inheritance would be subject to income tax? I thought it was only subject to inheritance tax.

August 18, 2013 12:00 am

How to remove a spouse's name after death

Q: My dad died several years ago. At the time, my mother didn't do anything to remove my father's name from anything. His name is still on the house, the car and several bank accounts. Mom is getting up there in age, and I think we should take care of this before she gets any older. What nee…

June 16, 2013 12:00 am

You still need a will even if you have a trust

Q: Why does a person need a will if he has created a trust?

December 30, 2012 12:00 am

Lack of estate planning plays out on reality TV

So I’m flipping channels on the television about a week ago. I’m not much for reality TV so it was hard to find anything I wanted to watch. I probably have five hundred channels and it seems like every one has a camera following some knucklehead around while they do something stupid.

September 09, 2012 12:00 am

Who will get my money?

Q: We recently gave a copy of your article on dying without a will to our daughter. She immediately asked, “If I die without a will, who will get my money if not my nieces, siblings and parents?” We thought you would be kind enough to expound on this for us.

August 26, 2012 12:00 am

Be prepared for the legal consultation

Q: Are attorneys required to give a free consultation when discussing estate planning?

July 08, 2012 12:00 am

Establishing education trusts

Q: We want to set up a trust for our grandchildren's education. To save money, is it possible to set up one trust for all of the grandchildren or do we need to set up a separate one for each of them?

June 17, 2012 12:00 am

Blow the dust off the estate plan

Happy 2012, everyone. I can't believe 2011 is already gone. I can't  say I'm going to miss it, but it sure didn't seem to last very long.

January 01, 2012 12:00 am

Who pays the tax?

As you all probably know by now, Indiana has an inheritance tax. The Indiana inheritance tax includes almost everything that transfers as the result of the death of an Indiana resident. Things that aren't taxed include real estate owned by an Indiana resident but located in another state and…

October 02, 2011 12:00 am

ESTATE PLANNING: Don't get stuck using labels as your estate plan

Q: I've been putting labels on my personal property with the names of the people I want to receive the item. I know this isn't the best way to do it, but will it work?

July 17, 2011 12:00 am

How to revoke a power of attorney

Q: What happens if you change your mind about someone you appointed in a Power of Attorney? Can you remove that person and appoint someone else? If so, what's the best way to do it?

July 10, 2011 12:00 am

ESTATE PLANNING: Estate Planning in a Digital Age Part II

Recently, I wrote a column on digital estate planning. Digital estate planning is essentially planning for all of the stuff we do online. Since so much of what we do online is stored on computers other than our own, it only make sense to have a plan in place.

May 22, 2011 12:00 am

ESTATE PLANNING: Inheritance tax can cross state lines

Q: If I have a bank account in an Illinois bank, will it still be subject to Indiana Inheritance Tax?

May 08, 2011 12:00 am

ESTATE PLANNING: Trust administration takes time

Q: It's been almost a year since my mother passed away and her trust still hasn't distributed out the money to the beneficiaries. Aren't trusts supposed to speed up the process? I almost feel like probate would have been faster.

April 24, 2011 12:00 am

ESTATE PLANNING: One copy of a will should suffice

Q: I want to give a signed copy of my will to each of my kids, but my attorney told me that I should only sign one copy. Why can't I sign more copies if I want them for my kids?

April 10, 2011 12:00 am

ESTATE PLANNING: Which funds to spend

Q: My son is the successor trustee of my trust. He also is on my bank account. Since he is the trustee and on the bank account, is it OK to leave the bank account titled as it is and not in the name of the trust?

April 03, 2011 12:00 am

ESTATE PLANNING: Planning for your children's education

I just finished reading a book by Michael Schumacher called the "Mighty Fitz: The Sinking of the Edmund Fitzgerald."

March 27, 2011 12:00 am

ESTATE PLANNING: You should avoid ancillary estates

Q: I am an Indiana resident with an Indiana will. My wife and I also own a home in Michigan that we use on weekends. Do we need to create Michigan wills for the Michigan home?

March 20, 2011 12:00 am
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