What happens to someone’s property if they die without a will Indiana?
When someone dies without a will, they are said to have died “intestate.” Indiana has a set of laws that controls what happens to someone’s estate, called “intestacy statutes.” The primary statute that governs intestate succession is Indiana Code § 29-1-2-1 (the “intestacy statute”).
The intestacy statute has a lot of variability and nuance, so the following is not a definitive explanation of what may happen in your situation. That said, here are some examples of what might happen if someone dies intestate.
- If someone dies with a spouse, no children, but
surviving parents > Their spouse gets 3/4 of the estate and their parents
get the remaining 1/4 of the estate.
- If someone dies without a spouse, children, or
siblings, but they have surviving parents > Their parents inherit everything.
- If someone dies without a spouse or children, but they have two parents and three siblings > Their parents would each get ¼ of their estate, and the remaining ½ would be split equally among their siblings.
The slightest change in any of the above scenarios could change the
result. If you have children from other marriages or relationships, or siblings
who have died and have surviving children, that changes the equation.
All this goes to show that having a
will is a good way to ensure that your property will be given to the right
people. A will is also a way to give part of your property to friends, since
Indiana’s intestacy laws only give your estate to family.
That said, a will may not be the
only way to handle your estate. If you do not have much property, simply
designating someone as your beneficiary on certain accounts or having a properly
recorded transfer on death deed may be enough for you. Whatever your situation,
talking with an estate planning attorney is a good way to put your mind at
ease.
Comments
Post a Comment