Probate & Estate Administration
Probate and estate administration may be required to settle the financial affairs of a family member or loved one. At Adler Law LLC, we provide comprehensive estate services with a personalized approach to address any delicate family issues. Indianapolis probate and estate administration lawyer Michael J. Adler has been advising individuals in a range of legal matters for over 15 years. He is familiar with administering estates and handling probate proceedings. Mr. Adler understands that these matters may be sensitive, and he values the privacy and trust of his clients. If you have concerns regarding the administration of an estate or other probate issue, the guidance of an elder law attorney can help set your mind at rest.Estate Administration and Probate in Indiana
Estate administration is the legal process by which a decedent’s financial matters are settled. The administration process typically includes probating the will, distributing property to heirs, paying debts and taxes, resolving disputes and challenges from third parties and creditors, and completing other required tasks. Generally, only assets that are held in the decedent’s sole name are subject to probate. Non-probate assets include those that are held in joint tenancy (i.e., joint bank account) or tenancy by the entirety, trust property, life insurance proceeds and retirement accounts, and accounts registered with a transfer-on-death.
In Indiana, estate administration is conducted as a supervised, unsupervised, or summary proceeding. Supervised administration involves filing a petition with the court to appoint a personal representative and probate the will, if any. If there is a will, the court will hear any challenges to its validity and determine whether it is the effective last will and testament of the decedent. If there is no will, or if the will is invalid, Indiana law controls how the decedent’s assets and property are divided. In supervised estate administration, the decedent’s property may only be distributed and sold pursuant to a court order. The personal representative will file a report detailing the plans for distribution, which may be subject to objections from interested parties. Once the court approves the report, the personal representative may distribute the property as ordered, pay any attorney’s fees, and settle any other issues.
Unsupervised administration is conducted by personal representatives who operate without court supervision. It is typically authorized pursuant to the decedent’s will, although heirs and other interested parties can request unsupervised administration if it is not provided by will and if the estate is solvent. The personal representative will file a closing statement within one year, and unless there are any objections, the estate is then closed. If the value of the decedent’s probate estate is less than $50,000, no administration is required, and the heirs may transfer assets by affidavit in what is known as the small estate process. A qualified estate planning attorney can help you learn more about the estate administration and which type is right for your situation.Enlist the Services of a Probate and Estate Administration Lawyer in Indianapolis
If you are seeking experienced legal advice in these complicated and delicate areas, Adler Law LLC has the skills and resources needed to assist you. Indianapolis probate and estate administration attorney Michael J. Adler provides representation to individuals in a variety of elder law matters. He represents people in Indianapolis, Westfield, Zionsville, Greenwood, Carmel, Fishers, and other communities in Boone, Marion, Hamilton, Johnson, and Vigo Counties. To schedule a free consultation with an estate planning attorney, call Adler Law LLC at 317-635-7880 or contact us online.