It will be up to you to do all that you can to provide for your loved ones in Indiana. This might include leaving them a healthy estate after you pass. You will need to have an estate plan in place to provide for the distribution of your assets. You also need a will. One of the biggest questions you may have may be whether or not it must be probated.
PROPERTY DISTRIBUTED THROUGH A WILL IS PROBATED
Estate planning is a detail that should always be taken care of before you pass. The person you appoint as your trustee will handle the actual distribution of your assets. If you are planning to distribute your property primarily by means of a will, you can expect it to go through the process of probate. There are several reasons why this will be so.
Probate is a process that will be overseen by the court. During this time, the court will take care of a number of crucial details that need to be concluded before the assets in the will can be distributed to your heirs. These include such items as paying off your creditors and making sure no other outstanding debts are still active.
CERTAIN TYPES OF TRUSTS CAN AVOID PROBATE
Your best bet to avoid probate may be to create a checklist for the specific type of will or estate plan that you wish to adopt. This will be the surest way for you to avoid the probate process.
Much will depend on the type of assets you include in your will. If you have assets that are jointly owned, these can avoid probate. It also helps to hold certain of your assets in a special trust. You will need a designated beneficiary to receive them.