Legal Question in Wills and Trusts in Indiana
Probate Time Line
I would like to know what the shortest amount of time it could be to settle an estate once it has gone into probate?
1 Answer from Attorneys
Re: Probate Time Line
Three months, which is a little deceptive. By law, an estate must remain open three months to allow creditors to file claims - usually the 3 months is calculated from the date the personal representative is appointed and the time it takes to have the notice of appointment published is added on (that might take 3 to 10 days for the first notice to get in your local paper). Assuming that all assets have then been collected, all claims paid and any necessary inheritance tax return filed (and tax paid), the estate can be closed.
For small estate purposes, 5 days to transfer title to the vehicle and 45 days to present an affidavit alleging the estate is smaller than $25,000.