Dale & Eke is taking the COVID-19 outbreak very seriously.  So, for the purpose of maintaining social distancing under CDC guidelines and to promote the health and safety of our clients, visitors and staff and reduce the spread of COVID-19, our physical office will be closed until further notice.

For the time being we are limiting all in-office meetings to those clients and potential clients who are not feeling ill or who have not shown signs of illness.  However, we are recommending that, unless you make other arrangements with your attorney, all client and potential client meetings occur via telephone or video conferencing.  If you have any paperwork for us that you need to drop off, please use the mail slot outside of the front door to our office.

We can still be reached at our office telephone number (317-844-7400). Your call will be answered by our office phone system and you may leave a voicemail in the general mailbox or with a specific attorney. All voicemails left in the general mailbox will be routed to the requested attorney or staff.

You may also email the firm through its website at  www.daleeke.com.

We will continue to monitor this evolving situation and adjust procedures as necessary.  Your health and safety, and the health and safety of our attorneys and staff, is our highest priority.  We thank you for your patience and understanding during these uncertain and unprecedented times.

A Professional Corporation of Attorneys at Law

What happens to business debt when the owner passes away?

If you have been in business in Indiana for a while, then you realize that debt is often part of success. The money you owe is as important as the money you make when it comes to your company’s finances. 

Your estate plan may need to address how your business stats will be handled when you are no longer there to manage them. While there may be separate agreements and succession plans in place for certain types of companies, you may want to incorporate these terms into your estate strategy in other cases.

As mentioned on FindLaw, your heirs and relatives would not necessarily be subject to your personal debts. This can become complicated when you are the sole proprietor of a company. For example, you may not want your creditors to remain unpaid if they are valuable business partners.

Sole proprietorships have fewer of the special legal and financial protections than do other types of businesses, such as corporations. However, at some scales, sole proprietorships perform better when it comes time to pay taxes. If you are worried about how these matters will be resolved after you are gone, then it could be time to re-examine the structure of the assets and liabilities in your company. Such an examination could help you gain the protection you need and retain the efficiency that you want.

An estate plan should address the specifics of your business. Each small and medium businesses has a different legal situation, so please do not use this as legal advice. It is only meant to be a general background.