§ 29-1-8-3 — Disbursement and distribution of estate

Indiana § 29-1-8-3

• Jurisdiction: Indiana
• Art. 1: PROBATE CODE
• Ch. 8: Dispensing With Administration

Text

(a) As used in this section, "fiduciary" means:
(1) the personal representative of an unsupervised estate; or
(2) a person appointed by a court under this title to act on behalf
of the decedent or the decedent's distributees.
(b) Except as otherwise provided in this section, if the value of a
decedent's gross probate estate, less liens and encumbrances, does not
exceed the sum of:
(1) an amount equal to:
(A) twenty-five thousand dollars ($25,000), for the estate of an
individual who dies before July 1, 2006;
(B) fifty thousand dollars ($50,000), for the estate of an
individual who dies after June 30, 2006, and before July 1,
2022; and
(C) one hundred thousand dollars ($100,000), for the estate of
an individual who dies after June 30, 2022;
(2) the costs and expenses of administration; and
(3) reasonable funeral expenses;
the fiduciary, without giving notice to creditors, may disburse and
distribute the estate to the persons entitled to it, followed by the filing
of a closing statement, as provided in section 4 of this chapter.
(c) If an estate described in subsection (b) includes real property, an
affidavit may be recorded in the office of the recorder in the county in
which the real property is located. The affidavit must contain the
following:
(1) The legal description of the real property.
(2) The following statements:
(A) If the individual dies after June 30, 2006, and before July
1, 2022, the following statement: "It appears that the decedent's
gross probate estate, less liens and encumbrances, does not
exceed the sum of the following: fifty thousand dollars
($50,000), the costs and expenses of administration, and
reasonable funeral expenses.".
(B) If the individual dies before July 1, 2006, the following
statement: "It appears that the decedent's gross probate estate,
less liens and encumbrances, does not exceed the sum of the
following: twenty-five thousand dollars ($25,000), the costs and
expenses of administration, and reasonable funeral expenses.".
(C) If the individual dies after June 30, 2022, the following
statement: "It appears that the decedent's gross probate estate,
less liens and encumbrances, does not exceed the sum of the
following: one hundred thousand dollars ($100,000), the costs
and expenses of administration, and reasonable funeral
expenses.".
(3) The name of each person entitled to at least a part interest in
the real property as a result of a decedent's death, the share to
which each person is entitled, and whether the share is a divided
or undivided interest.
(4) A statement which explains how each person's share has been
determined.
Formerly: Acts 1953, c.112, s.803; Acts 1959, c.239, s.1; Acts
1965, c.379, s.3; Acts 1971, P.L.406, SEC.2; Acts 1975, P.L.288,
SEC.14. As amended by P.L.146-1984, SEC.2; P.L.118-1997, SEC.17;
P.L.42-1998, SEC.2; P.L.95-2007, SEC.8; P.L.220-2011, SEC.473;
P.L.194-2017, SEC.4; P.L.231-2019, SEC.14; P.L.56-2020, SEC.5;
P.L.105-2022, SEC.19; P.L.151-2022, SEC.2; P.L.162-2022,
SEC.8.