Extract Fillable Fields Legal Indiana Probate Forms For Free

When Probate Isn't Needed Assets owned jointly. Property owned by married couples. Beneficiary accounts. Transfer-On-Death (TOD) assets. Payable-On-Death bank accounts. Small Estates. Living Trusts.

In Indiana, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on. You need to create a trust document (similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

What Assets Pass Through Probate? Property or assets held in joint tenancy. Beneficiary designations. Assets listed in transfer-on-death for, Retirement accounts. Life insurance proceeds. Living trust assets. Payable-on-death bank accounts. Community property with right of survivorship.

Typically, the process of obtaining letters testamentary can take several weeks to several months, depending on the circumstances. The executor or personal representative must file a petition with the probate court, which will schedule a hearing to appoint the executor and issue the legal document.

Under Indiana Code, a court generally only has the power to admit a will to probate if the personal representative presents the will in the proper time frame. The general rule is that you have three years from an individual's death to file probate.

Once the court signs the Probate Order, the personal representative will receive his or her authority to serve, which is the Letters Testamentary (Letters of Administration, if there is no Will). Within two months, the personal representative will file an Inventory listing all the deceased's solely owned assets.

As part of the probate process, letters testamentary are issued by your state's probate court. To obtain the document, you need a copy of the will and the death certificate, which are then filed with the probate court along with whatever letters testamentary forms the court requires as part of your application.

If an Indiana estate is worth less than $50,000, the family can transfer assets with a simple affidavit (a notarized written statement) and distribute property to heirs without probate. To determine the value of the estate, subtract any debts from the total value of assets.

Indiana allows for small estate exceptions, where any estate valued at less than $50,000 can avoid the probate process. There are specific details regarding property in real estate though, so you need to make sure you fully understand the process here.