Indiana Agreement Between Widow and Heirs as to Division of Estate

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State:
Multi-State
Control #:
US-01110BG
Format:
Word; 
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Instant download

Description

Agreements among family members for the settlement of an intestate's estate will be upheld in the absence of fraud and when the rights of creditors are met. Intestate means that the decedent died without a valid will. The termination of any family controversy or the release of a reasonable, bona fide claim in an intestate estate have been held to be sufficient consideration for a family settlement.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

1. (a) The surviving spouse of a decedent who was domiciled in Indiana at the decedent's death is entitled from the estate to an allowance of twenty-five thousand dollars ($25,000).

In Indiana, smaller estates can escape the need to go through probate. If a person's estate is worth less than $50,000, it may not be necessary. Affidavits must be filed, however, swearing to this.

Specifically, the Indiana intestate succession laws will distributed your estate as follows: Survived by spouse only ? spouse receives the entire estate. Survived by descendants only ? descendants split the entire estate.

Surviving spouses and children are first to qualify as direct heirs-at-law in California's Intestate Succession which orders the priority of heirs on how closely they are related to the decedent. Grand children would qualify as direct heirs only if their parents are deceased.

Spouses in Indiana Inheritance Law In this case, the spouse receives half of the decedent's personal property and one-quarter of his or her real property, although any monetary claims against the real estate will need to be subtracted, ing to Indiana inheritance laws.

Who Gets What in Indiana? spouse inherits 1/2 of your intestate personal property and 1/4 of the fair market value of your real estate, minus the value of any liens or encumbrances on that real estate.

Sec. 1. (a) The surviving spouse of a decedent who was domiciled in Indiana at the decedent's death is entitled from the estate to an allowance of twenty-five thousand dollars ($25,000).

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Indiana Agreement Between Widow and Heirs as to Division of Estate