Indiana Instructions to Personal Representative of Unsupervised Estate — Form PR 00-2 (PDF) is a form used in the state of Indiana to provide instructions to the Personal Representative of an unsupervised estate. The form is used to provide the Personal Representative with the necessary information to properly administer the estate. There are two types of PR 00-2 forms available for use in Indiana: the original version and a revised version. The original version provides instructions for the Personal Representative on preparing and filing the necessary documents to open the estate, including the petition, inventory, and accounting. It also instructs the Personal Representative on how to handle payments to creditors, distribution of assets to heirs, and the closing of the estate. The revised version provides additional instructions for the Personal Representative on preparing and filing additional documents, such as a motion to close the estate, and information about the appointment of an attorney and other professionals. Both versions of the form also provide detailed information about the duties and responsibilities of a Personal Representative, and the laws and regulations applicable to the estate.
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FAQ
Is Probate Required in Indiana? Any estate worth more than $50,000 is subject to probate in Indiana. Estates worth less than $50,000 transfer ownership to heirs through the small estate administration with a written statement proving entitlement to the assets.
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 (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).
Inspect all documents and personal papers of the decedent and retain anything pertinent to tax reporting, location and value of assets, debts or obligations of or to the decedent, or any other items of significance to administration of the estate of the decedent.
Conducting a probate in Indiana commonly takes six months to a year, depending on the situation. It can take longer if there is a court fight over the will (which is rare) or unusual assets or debts that complicate matters.
Unsupervised administration is conducted by personal representatives who operate without court supervision. It is typically authorized pursuant to the decedent's will, although heirs and other interested parties can request unsupervised administration if it is not provided by will and if the estate is solvent.
With unsupervised administration, the Personal Representative of the estate can carry out his or her duties without obtaining court approval for things like selling assets or dealing with inheritances and taxes. With supervised administration, the probate court must approve all actions taken.
With unsupervised administration, the Personal Representative of the estate can carry out his or her duties without obtaining court approval for things like selling assets or dealing with inheritances and taxes. With supervised administration, the probate court must approve all actions taken.