Inheritance Tax Repeal
Indiana’s inheritance tax has been repealed. This repeal is retroactive to the beginning of the year. Any Indiana resident who dies after December 31, 2012 pays no Indiana inheritance tax. This repeal has the potential to save the heirs of some decedents thousands of dollars in taxes.
The repeal of Indiana’s inheritance tax is a reason to consider creating a revocable living trust for your estate plan. By placing assets in a revocable living trust, you can avoid assets going through probate and saving your family time and expense. If you already have a revocable living trust and would like to review it with us, please feel free to call.