Legal Question in Wills and Trusts in Indiana

Husband and I have no will

I recently retired and my husband & I myself being in a 2nd marriage, have always had seperate checking accts. I have grown kids from my 1st marriage; he has no children. We don't have a will and my name is not on his checking/savings or vice versa. We do have our retirement IRAs invested and all monies from those bequithed to the spouse as well as our home and condo in both our names. What would happen if one or the other would die unexpectedly as it pertains to the other unprotected assets and cash assets, i.e. checking accounts, etc. without a will or a joint account?

THANKS,

Terri


Asked on 10/23/08, 11:31 pm

1 Answer from Attorneys
Samuel Hasler Samuel Hasler

Re: Husband and I have no will

A probate estate can be opened even where there is no Will. Indiana has a statute that sets out who gets what amount. Basically, the statute divides the property between the surviving spouse and the children.

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Answered on 10/25/08, 4:36 pm


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