When a family member dies, what happens to the estate; the bank and savings accounts, the stock and bond accounts, the real estate, insurance, trusts, annuities, business interests and other assets? It depends on Indiana probate.
Nolo Law for All says “Probate is a legal process that takes place after someone dies.” It includes:
If deceased didn’t have a will without a Will, then the property will be distributed according to Indiana law regarding intestacy (dying without a Will).
Only assets that the deceased person owned in his or her own name, alone, need to go through probate. All other assets pass to new owners without oversight from the probate court. Assets that go through probate make up what’s called the “probate estate.”
Here are common kinds of property that are NOT part of the probate estate:
Indiana residents do not need to worry about a state estate or inheritance tax unless you have an estate over $11.2 Million in 2018. Then you would have Federal taxes due.
Disclosure: Estate taxes, wills, and probate are areas that need the expertise of a lawyer who specializes in these areas. Always seek professional advice.
Even before the property has cleared Indiana probate, the heirs may decide to quickly dispose of the property. That’s where JT Integrity Properties can help. The heirs may not want to bring the house up to today’s standards. Today’s buyers want quartz counter tops, the latest stainless appliances, and wine coolers. The heirs may not have the money for deferred maintenance issues or renovation, the heirs may have no inclination to spend time renting, or staging and showing the house. The heirs may live in another city and don’t have the time or money to travel back and forth to the Anchorage area.
JT Integrity Properties is a cash buyer solution. We can buy the property “as-Is,” and we don’t require repairs; we pay cash and can close quickly if needed, most times we can close in less than 30 days. There are no closing costs or inspections for the seller, and no real estate commissions.
JT Integrity Properties is here to help homeowners out of any distressed situation.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 260-202-2222 to let us know how we can help YOU.