Briefly and succinctly defined, probate is the legal process of estate administration. Let s look at some of the details, and some of the implications. Personally Held Property You may decide to maintain personal possession of your property throughout your life and arrange for its transfer through the terms of a last will. This is certainly an option that is available to you, and the majority of people go this route. When you create a will you name an executor or personal representative. This is the person who will actually take on the hands-on administrative tasks that must be completed after you pass away. In other words, the executor will handle the business of the estate. The executor does not read the will and start writing checks. The first order of business will be to admit the will to probate, but there is one caveat. In the state of Indiana, if the estate is valued at less than $50,000, it could potentially be transferred outside of probate through a simple affida
Posted on: Wed, 23 Apr 2014 13:57:05 +0000
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