Probate – What is it & Why Avoid It
In Indiana, Probate is the process of a court overseeing a decedent’s estate and affairs to be sure that assets are distributed in a mandated order or priority. The process takes time and money and, in most cases, it can be completely avoided.
One additional point to be known is that everything is in the public record. That may not have been a big deal when everything was on paper in a file in the Clerk’s Office. However, now, it is all online and available to anyone with access to the web. This means all information about assets (types and values) and heirs (with contact information) is there for creditors and other people who may want to know what the decedent has.
The best way to avoid Probate is to proactively plan. There are other reasons to proactively, properly plan beyond avoiding Probate. Some examples are detailed below.