James Koday focuseshis Indiana and Florida practices in the areas of estate planning... more
James Koday focuseshis Indiana and Florida practices in the areas of estate planning and administration. Services in estate planning range from simple wills and trusts to the most sophisticated estate tax savings techniques. Publications:Practical and Tax Aspects of the Irrevocable Life Insurance Trust, Res Gestae, March and April 1980; Federal Estate Tax Return, ICLEF, 1982; Federal Inc... view profile
My law practice focuses broadly on trust and estate matters in both the planning and... more
My law practice focuses broadly on trust and estate matters in both the planning and administration stages. My practice includes income tax, in addition to, transfer tax planning. I represent corporate and individual fiduciaries outside of court and also before the court for various matters including petitions for instruction, modifications, approval of accounts or termination and discharge. ... view profile
A trust is an arrangement whereby someone owns and manages money or property for another person's benefit. Like a guardianship, a trustee has decision-making authority over the trust property, but no court is involved in the trustee's action–the person who creates the trust defines the scope of the trustee's power. There are many different trust types, including probate trusts, income trusts, spendthrift trusts, and educational trusts. For example, a living trust allows you to manage your property while you are alive and to direct who will manage it if you become incapable of doing so. In essence, you choose your own “guardian” in advance and avoid having the court do it for you. A trust attorney reviews the many reasons for establishing a trust with you, and can ensure your trust will be legally valid.