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.

Brand
A Professional Corporation of Attorneys at Law

Planning for the potential of estate taxes

As you work to prepare your estate plan in Indiana, you begin to notice opportunities to preserve assets from standard administrative processes that might otherwise take away from the personal wealth you hope to pass on to your beneficiaries. These may include the chance to avoid probate, and the possibility to settle debts prior to your death.

However, many come to us here at Dale & Eke expecting that one unavoidable estate-related expense is estate taxes. Yet is that the case? Indiana does not levy a local estate tax on residents, meaning that the only tax obligation potentially facing your estate comes from the federal level.

The federal estate tax exemption

With careful planning, you may even be able to mitigate (or perhaps avoid) that expense altogether. The federal government offers an estate tax exemption that allows many estates to avoid a tax obligation. Per the Internal Revenue Service, that estate tax exemption amount for 2021 is $11.7 million. Thus, if the total taxable value of your estate comes in under that amount, it will not be subject to tax.

Estate tax portability

You may even be able to extend that exemption amount even further (thanks to estate tax portability). You and your spouse can essentially share your estate tax exemption amounts. You may leverage this fact to effectively double your estate tax exemption (to $23.4 million). All you need to do so is plan to leave your entire estate to your spouse. This would pass tax-free thanks to the unlimited marital deduction. You (or your ex-spouse) can then claim the other’s unused estate tax exemption by filing an estate tax return electing portability.

You can find more information on optimizing your estate planning throughout our site.