Detailed Answer
Under Indiana law, a “year’s allowance” provides a surviving spouse or minor child with support drawn from the decedent’s personal property for one year after death. See IC 29-1-4-1. To obtain this allowance, you must file a petition in the probate court of the county where the estate is administered.
Statutory Requirements
Indiana Code does not demand a line-by-line inventory of every household item when you petition for a year’s allowance. However, the statute requires you to provide the court with sufficient information about the decedent’s personal property value to ensure the allowance is “just and reasonable.” A simple statement of estimated total value generally satisfies this requirement. If you later serve as personal representative, you’ll file a formal inventory under IC 29-1-14-1.
Practical Steps for Listing Assets
- Review major categories of personal property: bank accounts, vehicles, household goods, and investments.
- Estimate the fair market value of each category rather than itemizing every piece.
- Prepare a summary sheet showing categories and total values.
- Attach the summary to your Year’s Allowance petition.
Helpful Hints
- Check local court rules for any additional filing requirements or forms.
- Keep documentation (appraisals, bank statements) in case the court requests backup detail.
- Discuss estimated values with family members to avoid disputes later.
- Consider consulting a probate attorney if the estate contains complex assets (e.g., closely held business interests).
- Remember that the year’s allowance must be paid from personal property before other claims against the estate.