Get a Secure Inheritance Loan, usually within 72 Hrs if you’re an Heir or Beneficiary of an Estate in Indiana, in Probate or Trust
If you are currently dealing with, or about to deal with, the Indiana state court system with respect to a probate or estate issue – the following information should be helpful to you.
Probate law governs estate matters when someone who, such as a family member or other loved one, passes away. These laws insure that creditors are paid properly and that assets are distributed correctly to the “heirs,” or the descendant(s) of the estate.
What is the purpose of Probate? Probate is the legal process that deals with estate assets and property, with regard to heirs and creditors. Probate begins with a “petition” to open the estate and name a personal representative who is responsible for the administration of the deceased’s property.
The next step is when an official Notice of Creditors is printed in a local newspaper and Notice of Administration is sent to other involved parties. Creditors then have a set amount of time to file their claims from the first date of publication. Then the personal representative can pay the debt and distribute the remaining estate. Finally, a petition for discharge is filed, and the estate is closed.
Indiana Probate Law
As with probate in every state, probate in the state of Indiana requires that one be familiar with the Indiana probate process; that the people managing your estate and inheritance matters are well aware of exactly how probate should be conducted, timelines associated with filing probate petitions, critical probate documents, and so on. For example, the appraisal of all the assets of an estate going through probate in Indiana must conclude inside of 2 months from the beginning of the probate process.
The inventory list you will need to create must also comply with strict Indiana probate law standards. – as will the all of the other probate documents. How they are written is critical as far as Indiana probate law is concerned. Letters of administration, notices, Wills, waivers, and petitions are some of documents you or your probate lawyer will have to make sure are complying with Indiana probate law and are being completed and filed in probate court bearing in mind the correct time frames set forth by the state of Indiana.
There are many time frame limitations to be concerned with in this state, and the attorney handling your estate must remain aware of these probate deadlines and restrictions in order to fully protect your inheritance and possibly the inheritance of others mentioned in the will.
In the state of Indiana, as far as possession of property is concerned, the person assigned to be personal representative of your estate is responsible for paying debts and collecting rents – until such a time as the estate is settled and probate is concluded. The personal representative also has to make sure the real property belonging to the estate in probate, homes and/or buildings, remain in good condition. It is important in Indiana that this property is “inhabitable” for the tenants, if there are any tenants at the time that the probate process commences.
A surviving spouse in Indiana is permitted a certain amount of money for living expenses, right after the decedent passes away – until after probate, if the estate has been divided up among the heirs. This is critical because the surviving spouse may be concerned with paying basic household expenses during this generally painful and stressful time period. Likewise, the decedent’s children, if he or she has any, are also allowed to take a certain amount of expense money from the estate while the estate is going through probate.
Your probate attorney should be there through this entire probate process to make sure the inheritance process is being handled properly. We do not advise going through Indiana probate alone!
Indiana Probate Resources
Indiana has one probate court – with jurisdiction over estate matters, adoption issues & other assorted civil matters & juvenile concerns. For the rest of Indiana probate cases are dealt with in county superior or district courts.