Disclaimer: This information is for educational purposes only and does not constitute legal advice. Consult a qualified attorney to address your specific needs.
Detailed Answer
When someone dies in Indiana, certain assets transfer automatically by operation of law. Other assets remain in the decedent’s name alone and must go through probate for legal title to change hands. A will controls only those assets that require probate. It has no effect on property with a built-in beneficiary designation or survivorship feature.
1. Automatic Transfers at Death
Indiana law offers tools to avoid probate for real property:
- Joint Tenancy with Right of Survivorship: Two or more people hold equal ownership interests. When one owner dies, the survivor immediately owns the entire property. See Indiana Code § 32-17-1-1.
- Transfer-on-Death Deeds: Also called beneficiary deeds. Under Indiana Code § 32-17-14, an owner names a beneficiary who acquires title at death without probate.
2. Probate and the Role of a Will
Property without a survivorship feature or beneficiary designation becomes part of the probate estate. Probate serves to:
- Authenticate the decedent’s will.
- Appoint a personal representative (executor).
- Identify and inventory probate assets.
- Pay debts, taxes, and expenses.
- Transfer title to heirs or devisees under the will.
Probate in Indiana follows procedures in Indiana Code Title 29. Even with a valid will, a court supervises the distribution of assets that lack automatic transfer mechanisms. For most estates, probate takes at least six months under IC § 29-1-7-15.
Helpful Hints
- Review existing deeds. Adding a transfer-on-death deed can remove real estate from probate.
- Use joint tenancy carefully. Survivorship rights give co-owners immediate and full control.
- Update beneficiary designations on bank accounts and securities to avoid probate.
- Gather key documents—deeds, titles, and your original will—before meeting an attorney.
- Consult an estate planning attorney to ensure your assets pass as you intend.