Legal Question in Real Estate Law in Indiana

Re: Husband with no will

Without a will, the distribution of your husband's assets will be governed by the laws of intestate succession. This means that an estate will have to be opened and you and your child will be the heirs of both the real estate and the interest in the corporation.

Obviously, having a will and consulting with an estate planning attorney makes sense. At the very least, if your home was owned jointly with rights of survivorship, on your husband's passing you would own the home without the need for probate.

Consult an attorney and get a will as soon as possible.

Re: Husband with no will

Assuming your husband has no other children, if he were to predecease you intestate, under Indiana law, you are entitled to a surviving spouse allowance against his estate of such amount as the then current statute determines that amount to be. That amount is at least $15,000 and may be $25,000 or more by the time he dies. The balance of the net estate is divided one-half to you and one-half to your child. If the share to the child is more than $3,000 (or whatever size estate the law will allow a person under 18 to manage without a guardianship), then you would also be appointed guardian over the share for your child during his or her minority (which ends on the 18th birthday). Your spouse's estate will be composed of the stock he owns in his name alone, the real estate he owns in his name alone, and any other property in his name alone (cars, bank accounts and so forth). Furnishings in a home are treated as jointly owned by the spouses. If he has a buy-out agreement with his business partner in the corporation, then there will be cash in lieu of stock to be divided up and you will not have to be part owner of the company.