Though wills are not legally required, lacking a will means that the state will determine how to distribute your assets after your death.
These results often differ from the wishes of the deceased. Therefore, creating a will is essential to ensuring that your property winds up with the people you want cared for in your absence.
What happens if you die without a will?
The laws of intestacy apply when a person dies without a will. Indiana law typically grants inheritance to surviving spouses, children and parents.
The law refers to someone who dies without a will as intestate, which invokes the laws of intestacy. In Indiana in the absence of a will, a surviving spouses’ share of a decedent’s estate depends on whether there are also surviving children or parents. If the living spouse shared children with the deceased, he or she receives half of the intestate property and one-quarter of the market value of all real estate. If there is a spouse and living parents but no surviving children, the spouse inherits three-quarters of the property and the parents inherit the rest of the estate.
What happens if you have no surviving immediate family?
In the absence of a surviving spouse, child or parent, laws of intestacy in Indiana grant shares of the estate to siblings, grandparents, aunts and uncles. The more immediate the relation, the more likely the person is to inherit.
To avoid this confusion after your death, create a valid will to ensure your property ends up in the hands of those you love.