For many, establishing an estate plan means admitting that one day you will die, and for many, talking about inevitable death with a stranger, let alone an attorney, is a daunting endeavor. However uncomfortable this experience may be, it is important to first know the consequences of dying intestate, or without a will. When one dies without a will, the state of Indiana, in essence, writes your will for you through the Indiana Intestacy Statutes.
According to Indiana Code section 29-1-2, if a spouse and descendants of the decedent survive, the surviving spouse takes 1/2 of the net estate, and the descendents the other half. However, if the surviving spouse had no children with the decedent, but the decedent has surviving children with a previous spouse than the subsequent spouse shall take 1/4 of real property and 1/2 of personal property. The surviving children would then take the remaining shares. If the decedent is survived by a spouse and one or both parents then the surviving spouse takes 3/4 of the net estate and the parents take 1/4. If only the decedent’s spouse survives the decedent, then the spouse takes 100% of the estate. In addition, if a decedent is not survived by a spouse, children, grandparent or grandparent’s descendents, then the estate will escheat to the state of Indiana, meaning the entire estate is left to the state of Indiana, regardless of surviving in-laws or others of “step” relation.
However, the above outline of Indiana intestacy laws is only a very basic interpretation of a very complicated statute. An Indiana Intestacy Calculator is available here for a basic calculation of how your estate will be distributed if you die without a will. Avoiding talking with an attorney about an estate plan means the decisions you failed to make during your life are now left to grieving family members. However, with an estate plan, the pressure on family members is extinguished. The one way to ensure that loved ones are taken care of following death is to specifically outline your wishes in an estate plan and an experienced attorney at Gordon A. Etzler & Associates, LLP is ready to help.
