§ 29-1-8-4 — Closing of estate; statement

Indiana § 29-1-8-4

• 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) Unless prohibited by order of the court and except for estates
being administered by supervised personal representatives, a fiduciary
may close an estate administered under the summary procedures of
section 3 of this chapter by disbursing and distributing the estate assets
to the distributees and other persons entitled to those assets, and by
filing with the court, at any time after disbursement and distribution of
the estate, a verified statement stating that:
(1) to the best knowledge of the fiduciary, the value of the gross
probate estate, less liens and encumbrances, did not exceed the
sum of:
(A) twenty-five thousand dollars ($25,000), for the estate of an
individual who dies before July 1, 2006, fifty thousand dollars
($50,000), for the estate of an individual who dies after June 30,
2006, and before July 1, 2022, and one hundred thousand
dollars ($100,000), for the estate of an individual who dies after
June 30, 2022;
(B) the costs and expenses of administration; and
(C) reasonable funeral expenses;
(2) the fiduciary has fully administered the estate by disbursing
and distributing it to the persons entitled to it; and
(3) the fiduciary has sent a copy of the closing statement to all
distributees of the estate and to all known creditors or other
claimants of whom the fiduciary is aware and has furnished a full
accounting in writing of the administration to the distributees
whose interests are affected.
(c) If no actions, claims, objections, or proceedings involving the
fiduciary are filed in the court within two (2) months after the closing
statement is filed, the closing statement filed under this section has the
same effect as one filed under IC 29-1-7.5-4, and the appointment of
the personal representative or the duties of the fiduciary, as applicable,
shall terminate.
(d) A copy of any affidavit recorded under section 3(c) of this
chapter must be attached to the closing statement filed under this
section.
Formerly: Acts 1953, c.112, s.804; Acts 1971, P.L.406, SEC.3;
Acts 1975, P.L.288, SEC.15. As amended by Acts 1976, P.L.125,
SEC.4; Acts 1977, P.L.297, SEC.2; P.L.146-1984, SEC.3; P.L.95-2007,
SEC.9; P.L.220-2011, SEC.474; P.L.194-2017, SEC.5; P.L.231-2019,
SEC.15; P.L.56-2020, SEC.6; P.L.105-2022, SEC.20; P.L.151-2022,
SEC.3; P.L.162-2022, SEC.9.