Legal Question in Wills and Trusts in Indiana

Re: What if there is no will?

When a person dies intestate (without a will) his property is distributed according to law between his spouse and his children. However, certain types of property which is owned jointly with the spouse goes only to the spouse and the spouse is entitled to the survivor's allowance before there is any property available to be distributed between the spouse and children. Essentially, if your home, your vehicles and your bank accounts are in joint names, then you are entitled to sole ownership of them after your husband dies. Even if he had a will, he cannot alter this survivorship right. Your furniture is considered owned jointly by the two of you and that also goes to the survivor. Only the property your husband owns in his own name alone is available for administration and will be divided between you and the children - after your survivor's allowance and payment of expenses. Depending upon how he owns his business, it may or may not be part of his estate. If it is incorporated and he has both your names on the stock certificates, then you will be entitled to the business and it will not be part of his estate. If he owns it as a sole proprietor, then it will be part of the estate and the law requires that it be incorporated after his death in order to continue to be run or dissolved and sold off so that it can be distributed in the estate.