Streamlined Probate Solutions: Simplified Small Estate Processes in Indiana
In Indiana, a probate estate valued at $100,000 or less is considered a “small estate” and can avoid traditional probate for deaths occurring after June 30th, 2022 (the point where legislation raised the estate cumulative value threshold from $50,000 to $100,000). The probate estate excludes assets with designated beneficiaries or joint accounts, life insurance with named beneficiaries, or property in a trust. Estates that do not exceed the $100,000 threshold can fall under a simplified process involving a small estate affidavit.
Avoiding probate through estate planning can provide numerous benefits: The expedited process normally has a fraction of the duration of the probate proceedings. These proceedings can also diminish the estate’s value through court fees, attorney fees, and other expenses. The public process of the court proceeding can be avoided through proper estate planning and titling of assets which will provide additional privacy and avoidance of the estate details in public court records.
Whether you are seeking estate planning to provide your heirs with more streamlined proceedings or are an heir that is required to go through probate in Lake, Porter, La Porte, or St. Joseph Counties, the Law Offices of Edward P. Graham is ready to assist in handling your matter. For more information or to discuss specific situations and goals, contact the Law Offices of Edward P. Graham, Ltd. at (219) 797-7820. You can also reach our firm through our website: www.graham-law.com/contact-us.
(The Law Offices of Edward P. Graham is also licensed to practice law in Illinois)
