Settling an estate in Indiana means gathering the assets, notifying creditors, paying debts and taxes, and distributing what remains to the beneficiaries. Assets in a living trust settle privately without the court. An estate that needs probate takes 9 months to 15 months on average, and the creditor claim period of 3 monthsIC 29-1-14-1Verified Sep 8, 2026View source is the floor. In a probate case the inventory of estate assets is due within 60 daysIC 29-1-12-1, IC 29-1-7.5-3.2Verified Sep 15, 2026View source of appointment.

Indiana has no single statewide fill-in petition; the opening document is prepared to statute and filed with the Circuit or Superior CourtIC 29-1-7 (probate of wills & issuance of letters; petition contents IC 29-1-7-5); IC 29-1-10 (appointment & qualification of personal representatives); IC 29-1-7.5 (unsupervised administration)Verified Aug 24, 2026View source. Clerk of the court issues Letters Testamentary or Letters of Administration after the court grants the petition.

The creditor claim period of 3 monthsIC 29-1-14-1, 29-1-7-7, 29-1-14-9, 29-1-14-10Verified Sep 15, 2026View source runs from the first publication of the creditor notice, which follows the executor's appointment. Distributing assets before the period has run can leave the executor personally liable for a claim that arrives later.

Indiana allows executors 'reasonable compensation' — around 2.2%–3.8% of a $500,000 estate, judging by what the states with statutory schedules payIC 29-1-10-13 (reasonable compensation; no statutory percentage)Verified Sep 8, 2026View source. Courts consider the size and complexity of the estate, the time spent, and the executor's skill and experience. Executors can waive the fee entirely or accept a reduced amount.

Settling a trust in Indiana starts when the successor trustee accepts the role: the trustee obtains death certificates and an EIN for the now-irrevocable trust, notifies the beneficiariesInd. Code 30-4-1-1 et seq.Verified Jul 15, 2026View source, takes inventory of the trust assets, settles the grantor's debts and taxes, and distributes what remains under the trust terms. The process runs privately, without probate court supervision.