Bank Accounts

Joint checking accounts:

A consent to transfer is not needed when a surviving spouse is the only surviving person named on any account. It is helpful if the bank notifies the Vanderburgh County Assessor's office of the existence of the account.

All checking accounts require an IH-19 (Notice of transfer from a holding institution to an heir) by state law. This is generally mailed by the bank to the County Assessor's office and shows to whom the account was transferred.

Single name accounts:

A consent to transfer is required to release funds to the court-appointed "personal representative."

Before a single name account can be transferred to a surviving spouse or any one else, you must have a consent to transfer and a 45-day affidavit if there is no court appointed personal represenatative.

If the decedent died prior to July 1, 2006, use this affidavit

If the decedent died on or after July 1, 2006, use this affidavit

Assets in the name of a trust:

Generally, all assets held in the name of a trust require a consent to transfer.

An exemption is made for a trust in which the surviving spouse is the sole beneficiary. In this case, you can use an Affidavit of Transferee of Trust Property That No Indiana Inheritance Tax is Due on the Transfer. The form must be filed with the County Assessor and the Indiana Department of Revenue.

Funeral trusts must have a consent to transfer and a copy of the funeral bill.

Last updated: 8/31/2012 12:17:45 PM
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