Indianapolis Probate Lawyer
Probate can be a drawn out and complicated process; the best way to navigate it as quickly and correctly as possible is by consulting a probate lawyer like Christopher Blair Law. I can help guide you and your family through probate to ensure a smooth transition and accurate distribution.
Probate is a vital process that ensures the distribution of assets held within an estate is carried out properly in the event of a person’s death. Probate is only triggered when the executor named in the will starts the process.
Probate applies to any estate worth more than $50,000 and can take at least six months to a year to complete. It may take even longer if the beneficiaries go to court over the will.
If a person dies without a will or trust in Indiana, the law states that children and/or grandchildren are the first to inherit. If the deceased has no children, each parent receives 25% of the estate and the rest is distributed amongst any siblings, nieces, or nephews.
The reason a house goes into probate when someone dies is to ensure that the property passes over to the person or persons who will inherit the property or some share of it. If a deceased person owned property that was under their sole name, you will typically need to go through the probate process before it can be transferred or sold.
It is possible to avoid the lengthy probate process – and its associated costs – by creating a living trust. An alternative to writing a will, setting up a trust allows for assets and property to be distributed to it before death, eliminating the need for probate to oversee that distribution.
Married and Un-Married Couples
Another option to minimize the need for probate in case a will is more appropriate for your situation is to name beneficiaries on your retirement and bank accounts and to hold property jointly. Each of these options can be explored by married and unmarried couples. Let our estate attorneys help you navigate probate court in Indiana.
Pros of Probate
Cons of Probate