When someone passes away, whether with or without a Will, an estate is typically required to be opened with the Court to determine what expenses are to be paid and the appropriate distribution of the deceased, person’s assets. The Court appoints a Personal Representative who is responsible for administering the person’s estate. This process is commonly referred to as probate.
What Items are Considered in a Probate Estate In Indiana?
A probate estate includes all assets held by the individual that are in his or her individual name and some types of jointly held property. For example, if an individual holds property with another person or other people as tenant in common, then the deceased, person’s interest in the property becomes part of his or her estate and subject to probate. Assets of the estate can include other types of assets such as life insurance proceeds, death benefits, unpaid wages, and tax refunds. An estate can also include miscellaneous items owned by the deceased individual, such as jewelry and other household items that do not have a title.
Sometimes, an estate must be handled through probate administration upon a loved one’s death. If you need assistance handling estate and probate matters, an estate planning lawyer Indiana can help. Contact Webster and Garino for information and assistance today.