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Tuesday, March 14, 2006

Ind. Decisions - Supreme Court decides probate case

In University of Southern Indiana Foundation v. Richard A. Baker and Integra Bank N.A. Trust and Investment Management Group, a 9-page, 5-0 opinion, Justice Boehm writes:

We hold that the trust created by Marian Boelson left her tangible personal property and any interest she retained in her individual retirement accounts to her brother and gave the remaining assets to the University of Southern Indiana Foundation. * * *

The probate court’s order directing the trustee to distribute all of Boelson’s personal property to Baker and the real property to USIF is reversed. This case is remanded with instructions to order the trustee to pay the trust’s administrative expenses, to distribute $10,000 to Rucks, to distribute Boelson’s IRAs and any asset that passes under Boelson’s will and all automobiles, furnishings and the other personal property contained in Boelson’s condominium to Baker, and to distribute the trust’s remaining real and personal property to USIF.

Posted by Marcia Oddi on March 14, 2006 12:13 PM
Posted to Ind. Sup.Ct. Decisions