Question 1

What is Probate?

Accepted Answer

Probate is the judicial procedure by which a deceased individual’s estate is administered, including the discharge of debts and the distribution of assets. This procedure is required in the State of Indiana when the assets in a decedent’s individual name have a value of more than $100,000. Probate involves a number of key steps:
	assembling the decedent’s assets;
	reviewing the provisions of a will (if there is one);
	making necessary court submissions;
	publishing notice for any interested parties including creditors;
	settling outstanding valid debts;
	filing the required income tax returns including the decedent’s final income tax return and an income tax return for the estate;
	preparing an accounting of assets, liabilities, and expenses to the heirs, beneficiaries, and/or court; and
	distributing the remaining assets as provided in the will or as provided by Indiana law if there is no will.

Question 2

What Is the Difference Between an Executor and a Personal Representative in Indiana?

Accepted Answer

“Executor” is the term that is often specified in a person’s will whereby the decedent names a person to administer their estate. Upon the person’s death, if they have a will, the person listed in the will as the “Executor” will usually become the personal representative for the estate through a process in probate court. If no one has been named as an executor in a will, or if such person is unable (or chooses not) to serve in this capacity, or if no will exists, then normally another family member will go through the court process to be named as the personal representative for a loved one’s estate.

Question 3

What are the Primary Duties of Personal Representatives?

Accepted Answer

As probate lawyers, we understand the complexities involved in being a personal representative. Your responsibilities will encompass:
	Asset Control and Valuation. Essential to estate settlement, this involves taking charge of all estate assets. Activities may include obtaining keys to real estate and vehicles, recovering loaned items, and accessing financial accounts. A detailed inventory and valuation of all assets are important steps in this process.
	Estate Management. As estate-administration attorneys, we guide personal representatives in overseeing the estate’s daily affairs. This includes making mortgage and insurance payments for real property, as well as managing routine upkeep. We provide assistance in the meticulous accounting required for distribution of estate funds.
	Debt Settlement. A probate attorney’s role is pivotal in settling valid debts owed by the estate. This step precedes the distribution of assets to beneficiaries. Scott Williams Law offers guidance in assessing the legitimacy of claims and managing debt payments.
	Tax Return Filing. Our team assists personal representatives and executors in engaging a qualified tax professional to handle the preparation and submission of the estate’s final tax returns and the final income tax return of the decedent.
	Probate Closure. After asset distribution, we prepare and file all necessary court documents to formally conclude the probate process.
	Asset Distribution. We assist in determining who the beneficiaries and heirs at law are and the assets to which each is entitled. Our services extend to drafting required legal documents, like deeds, to transfer legal titles.
	Resolving Disputes. In some instances, especially when there is no will, asset distribution can become contentious. This is especially the case when numerous beneficiaries all want the same asset, such as an heirloom or house, and there is no relevant provision in a will. We are experienced in guiding personal representatives in these matters, helping them to craft unique strategies for distribution in the absence of language about who should inherit a specific asset, and helping to gain the agreement of beneficiaries in some instances.

Question 4

Can Personal Representatives Be Held Personally Liable for Estate Taxes or Debts in Indiana?

Accepted Answer

No. If there are not sufficient assets to discharge the debts of the decedent, the personal representative or executor for the estate is not personally responsible for deficiencies so long as they are following their fiduciary duties. Instead, creditors are paid in accordance with the law based upon the available assets. We are available to provide guidance on how to address these debts.

Probate & Trust Administration

General Obligations of a Personal Representative:

What are the Primary Duties of Personal Representatives?

Can Personal Representatives Be Held Personally Liable for Estate Taxes or Debts in Indiana?

We Invite You to Call Us to Learn How We Can Assist in Helping You Fulfill Your Obligations as a Personal Representative

We want to learn about you, your legal needs, and objectives.

Strategy Sessions