How long will it take to receive an inheritance in Indiana?
Learning you will be receiving an inheritance can cause a mixture of emotions. It may be a financial security or a sentimental value but it can also follow the loss of someone you love. A common question arises after you are informed of your inheritance. To help answer this question, the Indianapolis attorneys at Frank & Kraft explain the typical timeline for receiving an inheritance in Indiana. If you are wondering how long it will take to receive your inheritance, the Indianapolis attorneys of
Frank& Kraft
can help. They explain the typical timeline in Indiana for receiving inheritances. Non-probate estates may include assets held in a trust, jointly owned property which passes to the surviving owner or accounts designated “payable on Death” (POD) and “transfer on Death” (TOD). The Probate Process in Indiana
When assets are involved with probate, they must first go through the legal estate administration process before distribution. This includes gathering and valuing the assets, confirming the validity of a will (if there is one), and paying taxes and debts before beneficiaries receive their inheritance. Indiana’s laws on intestate succession determine who inherits and what percentage of the estate each beneficiary is entitled to if there is no Will. Indiana law requires that the Executor or Personal representative of the estate notify creditors known to them. They then have three months to file claims on the estate from the date the publication was made. If the creditor did not receive notice, they can file a claim up to nine months after the date of death. The executor/personal representative must then review and approve or reject each claim. Approved claims are paid using estate assets.
How Long Does It Take to Receive an Inheritance in Indiana?
There is no set timeline for probate in Indiana, as each estate is unique; however, the process generally takes at least six months for even a relatively simple estate because of the time creditors have to file claims. The timing also depends on if there are any disputes, how many creditors must be paid and the complexity of assets. The Executor/PR can only begin distributing assets after the deadline for filing claims has passed and all claims have been reviewed. This is provided that all valid claims have been settled and taxes paid. Even in simple cases, the court will need time to complete all steps before closing probate. More complex estates, such as those involving business interests, contested Wills, or tax complications, may take a year or longer before beneficiaries receive their inheritance.
Small Estate Administration in Indiana
Indiana provides an alternative for smaller estates, which can significantly reduce the time it takes to receive your inheritance. If the value of the estate is below a certain threshold (100,000 dollars as of 2025), the heirs can use a simplified process of probate through the use of affidavits or even bypass the probate altogether. This allows assets be transferred more quickly than traditional probate. To determine whether an estate qualifies for an expedited process and to gain a clearer understanding of how long probate may take, consulting a probate attorney is highly recommended.
Do You Have Questions about When You Will Receive Your Inheritance in Indiana?
For more information, please join us for an upcoming FREE seminar. If you expect to receive an inheritance in Indiana and have questions about the time it will take, please contact the experienced Indianapolis attorneys at
Frank & Kraft or call (317) 684-500 for an appointment. Read More! Latest Posts by Paul A. Kraft Estate Planning Attorney
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