Non-Probate Asset Transfers

Helping You Accomplish Non-Probate Asset Transfers in Indiana

When a person dies in Indiana, often the estate is distributed through the probate process. However, there are certain types of assets that can be transferred to the intended beneficiaries outside of the probate process. As a beneficiary, you may have questions on how to accomplish this transfer, as well as understand how Indiana state inheritance tax impacts your situation.

At the office of Margaret Royce Galvin, Attorney at Law, I have spent many years helping beneficiaries of non-probate property transfers understand their rights. Call 219-228-7115 (toll free 866-669-5008) to find out how I can assist you in completing the transfer properly.

Experienced Guidance You Can Trust

Certain assets are transferred outside the probate process, either through operation of statute, by instruction to a bank or because a beneficiary is specifically named, such as on a life insurance policy. Examples of non-probate assets include joint tenancy property, life insurance, IRAs, annuities, 401(k)s and "payable on death" (POD) bank or securities accounts.

The transfer of these non-probate assets often raise unique problems for beneficiaries, including state inheritance tax issues, and the paperwork to complete the actual transfer. As a beneficiary, you want to receive your benefit while meeting any obligations you may have.

Protecting Your Interests as the Beneficiary

Transferring these assets involves understanding and completing the necessary paperwork to ensure a proper transfer. As your lawyer, I will assist you in seeing that the correct documentation is completed correctly and delivered to the correct parties.

Non-probate property transfers are subject to Indiana inheritance tax. Unfortunately, many investment and life insurance companies pay beneficiaries without notifying the county tax assessor, leaving beneficiaries unaware they face a tax liability. This can lead to penalties and/or delinquent taxes.

I am a position to identify, analyze and explain the inheritance tax issues related to your non-probate property transfer. Based on the information you provide, I will prepare and file the inheritance tax return.

At every step, my main goal is to give you the information you need to make appropriate decisions. Call 219-228-7115 (toll free 866-669-5008) to schedule an appointment with an experienced probate attorney. I represent clients throughout Lake County and surrounding areas.