When someone passes away, the living family members or close friends are often times left wondering what happens to the remaining possessions. In such situations, one may seek the help of full service real estate realtors to resolve the issues. Upon someone’s death, a case is opened and sent to the county’s probate court office. Then, depending if the person had a last will and testament, the estate will be distributed. The process of finalizing a person’s estate can take anywhere between nine to 18 months
Unfortunately a majority of Americans, more than 60 percent, do not have a last will and testament. If this happens, execution of the estate could take longer. The court appoints an administrator to the case, who becomes responsible for identifying living family, paying final expenses, locating and distributing assets and debts. In Indiana, the court-appointed administrator can also select a spouse, domestic partner or an adult child to become the estate’s personal representative . State law will eventually
If a last will and testament is available, it needs submitted to the county’s probate court, where a representative will be assigned to file the deceased’s will and estate. At that time, any owed debts can be collected and assets are safeguarded. Liquidation of assets can take place to pay debts if necessary. Once all taxes and final debts are cleared, the court-appointed representative will file a petition so beneficiaries can receive approved assets.