What is probate?
Probate is the set of rules and procedures which govern the transfer of a deceased person’s assets when those assets are not otherwise “spoken for.” There are a number of ways assets can pass outside the probate process including joint tenancy, living trust, and various beneficiary designations. Probate is for those assets “that have no other way to go.” An experienced probate lawyer can give you detailed advice on the many procedures and alternatives available.
When a will is probated, the appointed executor or administrator is responsible for overseeing the collection, management and distribution of the decedent’s assets. If the deceased has not prepared a will, the State of Indiana is said to have prepared one for them. A person without a will is said to have died “intestate” and State law dictates where such person’s assets will wind up.
Probate Cost in Indiana
The average cost of probate in Indiana is 2 to 4% of the estate. One factor in determining cost is whether you ask for supervised or unsupervised administration. Supervised administration tends to be more expensive because the procedure is more cumbersome and time consuming. Our office is committed to helping you find guidance in these matters.
Probate Process Timeline
In most cases, the entire administration of an estate will not take longer than one year, and it can be shorter. With the right guidance, probate can be handled faster and with less expense.
Our Probate Services
We want to help you understand the estate probate process and minimize the worry and expense of an already difficult time. We charge reasonable fees and we work efficiently to see probate matters through in a timely manner.
If you have questions about Indiana probate law, or if you are concerned about the effect of a will or to whom someone’s property will go, call us for assistance.