Indiana Last Will & Living Trust Forms

Last Will or Revocable Living Trust in Indiana?

A Last Will and Testament is a written document in which a person names an executor, may name guardians for minor children and states who should receive their estate. A will takes effect only after death, and in most cases it goes through the probate court process before the estate is distributed.

A Revocable Living Trust is a document that holds assets during a person's lifetime. The person who creates it usually manages the trust as trustee and can change or revoke it at any time. A trust is designed to avoid probate for the assets that are placed into it, and it names a successor trustee to manage those assets later.

Some families choose a trust together with a Pour-Over Will, which directs any assets left outside the trust into it. Others begin with a will. Married couples can also choose one Joint Trust that covers both spouses in a single document.

Property deeds available in Indiana

Real estate is often handled with a separate deed. A Transfer on Death Deed names one or more people who are to receive a property after the owner's death, while the owner keeps full ownership during life.

A Quitclaim Deed is commonly used to transfer a property from one owner to another, for example from an individual into their living trust. This step is often called funding the trust. Deeds are generally recorded with the county where the property is located.

Planning for health and finances

A Power of Attorney names a person, often called an agent, who can handle financial matters such as banking, bills or property if the person who signed it is unable to do so.

A Healthcare Directive records a person's wishes about medical care and names someone to speak for them. A HIPAA Authorization allows named people to receive medical information from doctors and hospitals. See each complete plan on this page for its included documents.

Signing and keeping your plan current

Each document comes with signing instructions for Indiana. Some documents need to be signed in front of a notary or witnesses. Notarization can be arranged locally or through Online Notarization, a third-party service.

An estate plan is usually reviewed after major life events, such as a marriage or divorce, the birth of a child, a move to another state or the purchase of a home. Documents can be updated online in your account at any time during your access.