• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset & Business Planning
    • Dental Practice Law
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Medicaid and Elder Law
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Carmel, Indiana Elder Resources
        • Fishers Indiana Elder Law Resources
        • Greenfield, Indiana Elder Law Resources
        • Greenwood Elder Resources
        • Indianapolis Elder Law Resources
        • Lawrence Elder Law Resources
        • Plainfield Elder Resources
        • Zionsville Elder Law Resources
    • Estate Planning
      • Estate Planning Checkup
      • Estate and Gift Tax Figures
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
        • Business Succession Planning
      • Elder Abuse
      • Elder Law
        • Medicaid
        • Medicaid Planning
        • Planning for Long-Term Care
      • Estate Planning
        • Avoiding Estate Taxes
        • Estate Planning for Parents
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
        • Women and the Need for Estate Planning
      • Financial Planning
      • Incapacity Planning
      • Legacy Wealth Planning
      • Pet Planning
      • Philanthropy in Your Estate Plan
      • Probate
      • Power of Attorney
      • Small Estate Administration
      • Trusts
        • Trust Administration
        • Trust Administration
        • Serving as Executor
      • Understanding Your Social Security Retirement Benefits
      • Wills
        • Contesting a Will
    • Newsletter
    • Pre Consultation Form
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Carmel, Indiana Probate Resources
        • Greenfield Probate
        • Greenwood Probate
        • Indianapolis Probate
        • Plainfield Probate
        • Indiana Probate
        • Zionsville Probate
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Areas We Serve
    • Boone County
      • Lebanon
      • Zionsville
    • Hamilton County
      • Carmel
      • Fishers
    • Hancock County
      • Greenfield
    • Hendricks County
      • Brownsburg
      • Plainfield
    • Johnson County
      • Franklin, Indiana
      • Greenwood
    • Marion County
      • Central Indiana
      • Indianapolis
  • Blog
  • Contact Us

Frank & Kraft, Attorneys at Law

Indianapolis Estate Planning Attorneys

CONNECT WITH US TODAY(317) 684-1100

Attend a Free Workshop
Home » What Happens to My Assets If I Die Intestate in Indiana?

What Happens to My Assets If I Die Intestate in Indiana?

September 6, 2022Estate Planning

Indianapolis estate planning attorneys

You have probably been counseled by well-meaning friends and family members about the importance of executing at least a basic Last Will and Testament. Unless you understand why that is so important, however, you may lack the motivation to get started on your Will. With that in mind, the Indianapolis estate planning attorneys at Frank & Kraft explain what happens to your estate assets if you die intestate in Indiana.

What Is a Last Will and Testament?

A Last Will and Testament is a legal document that allows the Testator (the person creating the Will) to communicate his/her final wishes regarding assets owned by the Testator at the time of death.  Although you may not realize it, there are several different types of Wills a Testator may choose from when creating a Will, the most basic of which is referred to as a Simple Will. Even a simple Will, however, can accomplish a great deal, starting with ensuring that the Testator does not leave behind an intestate estate.

Dying Intestate in the State of Indiana

In legal terms, if you leave behind a valid Will you are said to leave behind a “testate” estate. Conversely, if you fail to execute a Will prior to your death, you leave behind an “intestate” estate. If you leave an intestate estate behind, you are effectively telling the State of Indiana that you want the state to decide what happens to your estate assets when you are gone.

You may not think you have enough of an estate to worry about how it is distributed; however, almost everyone owns at least some estate assets when they die. More importantly, the monetary value of your assets is not always what is truly important. Whether your estate is modest or excessive, don’t you want the opportunity to decide what happens to the assets you do own – and worked hard to obtain – when you die? Moreover, do you really want your family heirlooms to be sold in an estate sale or given to someone who does not reassure them as you do?  If the Indiana intestate succession laws dictate how your estate is distributed, only close family members are likely to receive assets from your estate – and you do not get to decide which ones they are nor what assets they receive. Specifically, the Indiana intestate succession laws dictate that your estate be distributed as follows, depending on who you leave behind:

  • Children but no spouse. Your children inherit all your assets.
  • Spouse but no descendants or parents. Your spouse inherits everything.
  • Spouse and descendants from you and that spouse.  Your spouse inherits half and descendants inherit the other half.
  • Spouse and at least descendant from a previous spouse. Your spouse inherits 1/2 of your intestate personal property and 1/4 of the fair market value of your real estate, minus the value of any liens or encumbrances on that real estate. Your descendants inherit everything else.
  • Spouse and parents. Your spouse inherits 3/4 of your intestate property and your parents inherit the remaining 1/4 of your intestate property.
  • Parents but no spouse or descendants. Your parents inherit everything.
  • Siblings but no spouse, descendants, or parents. Your siblings inherit all assets.

The Indiana intestate succession laws dictate that more distant family members will inherit nothing from your estate nor will friends or charities that are dear to you. The best way to prevent that from happening is to ensure that you execute at least a basic Last Will and Testament.

Contact Indianapolis Estate Planning Attorneys

For more information, please join us for an upcoming FREE seminar. If you have additional questions or concerns about what it means to die intestate, or you are ready to get started creating your Will, contact the experienced Indianapolis estate planning attorneys at Frank & Kraft by calling (317) 684-1100 to schedule an appointment.

  • Author
  • Recent Posts
Paul A. Kraft, Estate Planning Attorney
Paul A. Kraft, Estate Planning Attorney
Paul Kraft is Co-Founder and the senior Principal of Frank & Kraft, one of the leading law firms in Indiana in the area of estate planning as well as business and tax planning.

Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Paul A. Kraft, Estate Planning Attorney
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
  • What Are the Probate Fees in Indiana? - March 23, 2023
  • 5 Medicaid Myths Dispelled - March 21, 2023
  • What Happens to an Inheritance If No One Claims It? - March 16, 2023

Other Articles You May Find Useful

Indianapolis estate planning attorneys
What Happens to an Inheritance If No One Claims It?
Indianapolis estate planning attorneys
Estate Planning Tips to Prevent Sibling Disputes
Estate planning for seniors
What Seniors Need to Know about Estate Planning
Indianapolis estate planning attorneys
If I Have a Family Wealth Trust Do, I Still Need a Will?
Planning
Top 3 Estate Planning Documents
Indianapolis estate planning attorneys
Understanding the Annual Exclusion

Primary Sidebar

Frank & Kraft, Attorneys at Law

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

Blog Subscription

Where We Are

Frank & Kraft Attorneys at Law
135 N. Pennsylvania Street Suite 1100
Indianapolis, IN 46204-2485
Phone: (317) 684-1100
Fax: (317) 684-6111

See Larger MapGet directions

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 5:00 PM

Map

frankkraft_sidbr_map

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
footer-logo

Frank & Kraft Attorneys at Law
Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.

© 2023 · American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy | Sitemap | Contact Us