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will pass according to
the terms of the trust.
, if titled as "joint
tenants with rights of survivorship" or "tenancy
by the entireties,"
will pass to the surviving joint owner.
will
pass to the person designated on your "beneficiary
designation form."
is governed by Indiana
intestacy law. That property will be distributed as
follows:
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Single, no
children: Each parent and sibling receives an
equal share except that each parent must receive at least
a one-fourth share.
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Single with
children: Children share equally except that
each child under the age of 18 must split at least $25,000
before children over 18 receive a share.
-
Married, no
children: Spouse receives $25,000 plus
three-fourths of the remaining property. Parents receive
the balance.
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Married with
children: Spouse receives $25,000 plus one-half
of the remaining property. Children divide the balance.
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Married with
children from an earlier marriage: Surviving
spouse receives $25,000, an amount equal to 25% of
the net fair market value of the real estate, and
one-half of the remaining personal property. Children
divide balance of the assets.
If any beneficiary is under 18, a
guardian will be appointed and the guardian must file
accounting statements with the court until the child
reaches the age of 18. Your assets pay the costs of the
guardian and the accounting statements.
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