{"id":65,"date":"2013-07-01T12:40:31","date_gmt":"2013-07-01T16:40:31","guid":{"rendered":"https:\/\/handponist.lawblogger.net\/blog\/?p=65"},"modified":"2026-02-05T13:07:10","modified_gmt":"2026-02-05T18:07:10","slug":"positive-changes-to-indiana-llc-laws-estate-planning","status":"publish","type":"post","link":"https:\/\/www.hpindiana.law\/blog\/positive-changes-to-indiana-llc-laws-estate-planning\/","title":{"rendered":"Positive Changes to Indiana LLC Laws \u2013 Estate Planning"},"content":{"rendered":"<p>Earlier this year the <a href=\"https:\/\/iga.in.gov\/\" target=\"_blank\" rel=\"noopener\">Indiana General Assembly<\/a> passed <a href=\"http:\/\/www.in.gov\/legislative\/bills\/2013\/PDF\/HE\/HE1394.1.pdf\" target=\"_blank\" rel=\"noopener\">House Enrolled Act 1394<\/a>, which takes effect today, July 1, and makes several amendments to the Indiana LLC statute, officially known as the <a href=\"http:\/\/law.justia.com\/codes\/indiana\/2012\/title23\/article18\/\">Indiana Business Flexibility Act<\/a>. This is the first of two articles discussing those changes. This first article addresses some amendments that should enhance the use of LLCs for estate planning purposes, and the second will discuss changes that expressly address the use of officers in the management of limited liability companies.<\/p>\n<h2>Permissible Purposes for LLCs<\/h2>\n<p>With the new amendments, Section 6 of the Indiana Business Flexibility Act now explicitly states that LLCs may be used not only for business purposes but also for personal and nonprofit purposes. For an example of a personal purpose, a married couple who own a vacation cabin and want it to remain in the family after they are gone might place the cabin in a limited liability company and then, by gift, by will, or by other means, transfer the ownership of the LLC to their children or grandchildren. Because the cabin is not used to generate income, the purpose of the LLC is personal, not business.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.hpindiana.law\/blog\/positive-changes-to-indiana-llc-laws-estate-planning\/\"  title=\"Continue Reading Positive Changes to Indiana LLC Laws \u2013 Estate Planning\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Earlier this year the Indiana General Assembly passed House Enrolled Act 1394, which takes effect today, July 1, and makes several amendments to the Indiana LLC statute, officially known as the Indiana Business Flexibility Act. This is the first of two articles discussing those changes. This first article addresses some amendments that should enhance the [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-65","post","type-post","status-publish","format-standard","hentry","category-estate-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Positive Changes to Indiana LLC Laws \u2013 Estate Planning &#8212; Indiana Law Blog &#8212; July 1, 2013<\/title>\n<meta name=\"description\" content=\"Earlier this year the Indiana General Assembly passed House Enrolled Act 1394, which takes effect today, July 1, and makes several amendments to the &#8212; July 1, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hpindiana.law\/blog\/positive-changes-to-indiana-llc-laws-estate-planning\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Positive Changes to Indiana LLC Laws \u2013 Estate Planning &#8212; Indiana Law Blog &#8212; July 1, 2013\" \/>\n<meta name=\"twitter:description\" content=\"Earlier this year the Indiana General Assembly passed House Enrolled Act 1394, which takes effect today, July 1, and makes several amendments to the &#8212; July 1, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael R. Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Positive Changes to Indiana LLC Laws \u2013 Estate Planning &#8212; Indiana Law Blog &#8212; July 1, 2013","description":"Earlier this year the Indiana General Assembly passed House Enrolled Act 1394, which takes effect today, July 1, and makes several amendments to the &#8212; July 1, 2013","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hpindiana.law\/blog\/positive-changes-to-indiana-llc-laws-estate-planning\/","twitter_card":"summary_large_image","twitter_title":"Positive Changes to Indiana LLC Laws \u2013 Estate Planning &#8212; Indiana Law Blog &#8212; July 1, 2013","twitter_description":"Earlier this year the Indiana General Assembly passed House Enrolled Act 1394, which takes effect today, July 1, and makes several amendments to the &#8212; July 1, 2013","twitter_misc":{"Written by":"Michael R. Smith","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.hpindiana.law\/blog\/positive-changes-to-indiana-llc-laws-estate-planning\/#article","isPartOf":{"@id":"https:\/\/www.hpindiana.law\/blog\/positive-changes-to-indiana-llc-laws-estate-planning\/"},"author":{"name":"Michael R. 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