Indiana Letters of Testamentary are documents issued by a probate court in Indiana that appoint an executor or personal representative to administer a deceased person's estate. The executor is responsible for paying debts, filing taxes, and distributing assets to beneficiaries according to the deceased person's wishes. There are two main types of Indiana Letters of Testamentary: Small Estate Affidavits and Formal Letters of Testamentary. Small Estate Affidavits are used when the decedent's estate is valued at $50,000 or less and the decedent did not create a will. Formal Letters of Testamentary are used when the decedent's estate is valued over $50,000 and/or when the decedent created a will. The Letters of Testamentary will name the executor of the estate, and will authorize the executor to access the decedent's assets and fulfill their duties.
Indiana Letters of Testamentary are documents issued by a probate court in Indiana that appoint an executor or personal representative to administer a deceased person's estate. The executor is responsible for paying debts, filing taxes, and distributing assets to beneficiaries according to the deceased person's wishes. There are two main types of Indiana Letters of Testamentary: Small Estate Affidavits and Formal Letters of Testamentary. Small Estate Affidavits are used when the decedent's estate is valued at $50,000 or less and the decedent did not create a will. Formal Letters of Testamentary are used when the decedent's estate is valued over $50,000 and/or when the decedent created a will. The Letters of Testamentary will name the executor of the estate, and will authorize the executor to access the decedent's assets and fulfill their duties.
