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University of Southern Indiana Foundation v. Baker, 843 N.E.2d 528

Facts

In 1996, Marian Boelson created an inter vivos trust, which was amended in 2001 to provide her brother, Richard Baker, with certain assets upon her death. After Boelson's death in 2003, a dispute arose between Baker and the University of Southern Indiana Foundation (USIF) regarding the interpretation of the trust, specifically concerning the distribution of personal property. The probate court initially ruled in favor of Baker, stating he was entitled to all personal property, but USIF contended that the trust only provided for personal effects and not intangible property.

In 1996, Marian Boelson created an inter vivos trust, which was amended in 2001 to provide her brother, Richard Baker, with certain assets upon her death. After Boelson's death in 2003, a dispute arose between Baker and the University of Southern Indiana Foundation (USIF) regarding the interpretation of the trust, specifically concerning the distribution of personal property.

Issue

What is the proper interpretation of the term 'personal property' in the context of the trust created by Marian Boelson?

What is the proper interpretation of the term 'personal property' in the context of the trust created by Marian Boelson?

Rule

The court held that where an instrument is ambiguous, all relevant extrinsic evidence may be considered in resolving the ambiguity, regardless of whether the ambiguity is deemed patent or latent.

The court held that where an instrument is ambiguous, all relevant extrinsic evidence may be considered in resolving the ambiguity, regardless of whether the ambiguity is deemed patent or latent.

Analysis

The court found that the term 'personal property' was ambiguous and that the extrinsic evidence presented by USIF clearly established Boelson's intent to limit her brother's inheritance to specific items, including individual retirement accounts and tangible personal property from her condominium. The court emphasized that the ambiguity allowed for the consideration of extrinsic evidence to ascertain the settlor's true intentions.

The court found that the term 'personal property' was ambiguous and that the extrinsic evidence presented by USIF clearly established Boelson's intent to limit her brother's inheritance to specific items, including individual retirement accounts and tangible personal property from her condominium.

Conclusion

The Supreme Court reversed the probate court's order and remanded the case, instructing that Boelson's tangible personal property and individual retirement accounts be distributed to her brother, while the remaining assets were to go to USIF.

The Supreme Court reversed the probate court's order and remanded the case, instructing that Boelson's tangible personal property and individual retirement accounts be distributed to her brother, while the remaining assets were to go to USIF.

Who won?

The prevailing party was the University of Southern Indiana Foundation (USIF), as the Supreme Court ruled that Boelson intended to limit her brother's share to specific assets, thereby favoring USIF's interpretation of the trust.

The prevailing party was the University of Southern Indiana Foundation (USIF), as the Supreme Court ruled that Boelson intended to limit her brother's share to specific assets, thereby favoring USIF's interpretation of the trust.

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