In general, when someone dies, the estate must go through probate which can be a complicated and lengthy process. But many states provide less complicated options for smaller estates.

Indiana law provides for simplified probate when the value of the gross probate estate less liens and encumbrances does not exceed $50,000 plus the costs and expenses of administration and reasonable funeral expenses.  Then the decedent’s personal representative may, without giving notice to creditors, immediately disburse and distribute the estate to the persons entitled to it, and then file a closing statement with the court.

Another option in Indiana for heirs or beneficiaries to inherit property is the use of an affidavit. The heirs or beneficiaries prepare an affidavit identifying the assets they are entitled to inherit. This option may be used when the gross probate estate, less liens and encumbrances does not exceed $50,000. After a waiting period of 45 days, the beneficiaries simply present the affidavit to the holders of the decedent’s property and it will be transferred to them.