Indiana Inheritance Loans and Probate Advance Law
When someone learns they are going to inherit money from an estate, the first thing he or she wants to know is when they will receive their inheritance. But when an estate has to go through probate, it could be a long time before your funds are available to you, sometimes even years. But there are ways to avoid probate and get your inheritance faster, as quickly as days instead of years. This guide will explore some of the options that are available to those who are planning their estate and those who are dealing with the probate process in Indiana.
What Are Indiana Probate Laws?
Indiana probate laws protect the wishes of the deceased and ensure that the rights of the beneficiaries and third parties are protected. The last will and testament is a written directive that explains how the assets of the deceased are to be disbursed. Probate is the legal process that ensures those wishes are completed after the deceased’s taxes and debts are handled.
An attorney that specializes in wills and estates can help with estate planning, so your assets don’t have to go through probate, and can help you if you are the executor of a will or even if you are an heir. These attorneys are deeply knowledgeable in Indiana probate laws and will be able to guide you through the complexities of the process. Executors of a will have many responsibilities, and a probate attorney can help you make sure you meet all deadlines, and that all documents are completed properly.
What is The Probate Process in Indiana?
The probate process in Indiana has the same basic principal steps as most other states. First, an executor is established. This person is usually named in the will, but if a person is not named, or if a will is not filed, the probate court will assign an administrator or personal representative. This person is required to have the will validated, and then must find, inventory, and appraise the estate. Then, a list of all assets and their values are given to the probate court.
The executor will post public notice of probate and third-parties that have an interest in the estate are given a certain amount of time to file a claim on debt they were owed by the deceased. All final taxes must be paid, and then the estate is divided among the heirs. The court will decide how to divide the estate if there was no will. While the administrator or executor manages the estate throughout the probate process, they do not have actual control of the estate. As such, the executor cannot sell assets or property, nor can they distribute any of the estate. The executor can only do what the law allows.
What Property Will Go Through Probate in Indiana?
Whether property will go through probate in Indiana will depend on what the property is and how the estate was planned. Through estate planning and survivorship rules, property and assets can be transferred automatically to beneficiaries without having to go through probate first. For example, real estate, personal property, and financial accounts can be set up to transfer to a beneficiary upon death. Your wills and estate attorney can you set up your estate to avoid probate. However, with no estate planning, or if a will was not filed, the estate probably would have to go through probate.
How Can You Avoid Probate in Indiana?
Many people want to know how you can avoid probate in Indiana. Not only does probate take a long time, but it can also be quite costly. And if the estate isn’t able to pay the fees and costs associated with probate, the heirs may have to pay them. Probate can take months to complete, and in some cases, the process may take a year or more. If the will is contested, the process will take much longer. But if you have a living trust, assets are automatically and legally transferred to your heirs when you are no longer able to manage the trust, or when you die.
How Can You Access Indiana Inheritance Funds Immediately?
You might not know that you can access Indiana inheritance funds immediately instead of having to wait months or years for the probate process to end. In fact, some heirs and beneficiaries will be eligible to get their inheritance funds in just a matter of days.
Probate Advance has established an extremely easy way for you to get your inheritance fast. With no credit checks or loans, no payments or interest, and no rules on how you use your inheritance money, Probate Advance makes getting your funds easy and fast. Beneficiaries of an estate should not have to wait to get what their loved one wanted them to have. Now, you have options, including the option to get your inheritance funds in as little as 48 hours. Information and transactions are secure and safe, and you only have to answer a few questions to find out if you are eligible.
Do You Qualify for an Indiana Inheritance Cash Advance?
You qualify for an Indiana inheritance cash advance if you are an heir or beneficiary to an estate and you expect to receive at least $12,000. Typically, most beneficiaries do qualify for an inheritance funds advance. The best part is, your funds could be available in as little as two days.
What Do You Need for a Probate Advance in Indiana?
What you need for a probate advance in Indiana is to be an heir or beneficiary of an estate. We will need some basic information to confirm your status as an heir or beneficiary first, and then you just have to tell us how you want to receive your money. You can have it direct deposited, or we can send you a check. It really is that easy, and it should be. It’s your money, and you shouldn’t have to wait for it.
What Areas of Indiana Qualify for an Inheritance Loan?
We offer inheritance loans in all cities in Indiana, including but not limited to:
- Fort Wayne
- South Bend
To learn more about Indiana probate laws and the rules on inheritances, check out our resources.