INDIANA PROBATE
Probate is essentially the court process to determine whether or not a will is valid. It also consists of paying the decedent’s debts and distributing his or her assets as instructed in the will. In Indiana, a will must be probated in the county where the deceased person lived at the time of his or her death. If the deceased person did not live in Indiana, the will may be probated in the Indiana county where the deceased person had property.
Living Trusts
Perhaps the most effective way to avoid the probate process is to have a simple revocable (also referred to as “living”) trust. With a simple revocable trust, all assets can be placed in trust and the probate process avoided at death. Assets held in the name of a Revocable Living Trust at the time of a person’s death will pass directly to the beneficiaries named in the trust agreement and outside of the probate process. A revocable trust also provides the following:
- Provide creditor protection.
- Provide for assets to be held and administered years after death. This is helpful when assets need to be held until young children reach adulthood.
- Provide for incapacity: Assets held in the name of a Revocable Living Trust at the time a person becomes mentally incapacitated can be managed by their Trustee instead of by a court-supervised guardian or conservator.
- Privacy: A trust agreement can remain private and avoid becoming public record. This keeps details about your assets and who you are leaving them to out of the public eye.
Almost everyone should utilize a revocable trust. We can assist you in creating the proper trust to keep your family from having the headaches of probate.
Probate involves the unwinding of a person’s financial life after their death. It can be complicated, time consuming, expensive, and tie assets up for years. It is important to select an attorney who can effectively guide you through the probate process.
Attorney John Schwarz II is a native Hoosier who knows and understands the issues facing the people of Indiana.
John practices in the areas of Agricultural Law, Family Law, Real Estate Law, Municipal Law, Estate Planning, Probate, Civil Litigation, Employment Law, Personal Injury, Animal Law, and other areas. As a fellow Hoosier John can effectively assist you with your Indiana legal needs.
