What Is Probate Law in Indiana?

The loss of a loved one is always a difficult time in your life. However, that difficulty can be exacerbated by the post mortem process referred to as probate. Our firm specializes in probate law, and is here to help walk you through any planning, administration, or litigation services you may need.

The duration of a probate court procedure might range from months to perhaps years. That’s probably the last thing you want your loved ones to go through just after your passing. And if you don’t have a plan, your family may have to deal with potentially disastrous consequences beyond only the financial and emotional toll on them.

You cannot put off asset protection planning until a crisis arises. It may be too late to preserve your assets once you are facing a lawsuit. Your asset protection measures must be in place far in advance of an event for them to be effective, just like all other types of planning. Your asset protection strategy also needs to be revised on a regular basis to take into account changes in your assets, family dynamics, and legal requirements.

The probate process is complex and can be overwhelming to many, but can be separated into a few steps.

The executor must first submit a request for probate in the county of the decedent. The court will publish notice of the application for probate after it has been filed. Whether you have a will or not, everything that happens during probate is recorded and made available to the public. This means that anyone with a desire can discover the specifics of your estate, your beneficiaries, and what they will inherit, making them possible prey for con artists and fraudsters.

The court will then decide whether the deceased had a valid will after that. The court will choose the executor named in the will if the will is present and declared valid. If a will does not specify an executor (or the named person cannot or does not want the job), the court will determine the best fit for an executor of the estate.

The estate executor will need to locate all estate assets, determine all beneficiaries, notify any known creditors, and work to resolve any disputes among heirs and beneficiaries. Probate may lead to arguments between your family members. This is especially true if you want to disinherit someone or leave one relative a sizable financial inheritance over the others, in which case a family member might challenge your will. Even if those legal battles are unsuccessful, your family will still have to deal with more time, money, and stress as a result of them.

After locating all assets, the executor or personal representative must inventory all property to determine the value of the estate. If the value of the estate does not contain enough assets to pay off creditors, beneficiaries may receive reduced or no inheritance.

It’s crucial to note that even if you have a will in place, your loved ones will still have to go through probate after you pass away. Therefore, you cannot rely exclusively on a will and must implement extra estate planning tools if you want to prevent your family from going to court and getting into a fight after you pass away.

The process can be significantly more effective, saving time and money, with the help of a lawyer with experience in estate planning.

Call our firm today for more information.