Probate And Estate Administration In Ohio
When people pass away with or without a will, their estates must go through probate. This is the process of validating the will and settling the estate. The beneficiaries cannot receive the property until the probate process is finished. Depending on the size of the estate, they might have to wait months or even over a year to reach the end of probate.
Probate can be a complex process, but legal help is available. Our Ohio probate and estate administration lawyer can help you administer the estate. We are also available if you believe the administrator or executor isn’t acting in the estate’s best interest. Contact us today to discuss your case.
What Assets Don’t Go Through Probate?
Only some assets have to go through probate. Non-probate assets include:
- Assets inside of a revocable or irrevocable trust
- Jointly owned assets
- Assets with designated beneficiaries
- Transfer-on-death assets
Types Of Probate In Ohio
There are three main types of probate in Ohio. First, there is simplified probate. Your estate will qualify for this if it’s worth less than $50,000. In addition, you’ll qualify if your estate is valued under $100,000 and your spouse inherits everything.
Next, there is a summary release from administration. You will qualify for this if your estate is valued at under $5,000. You’ll also be eligible if your estate’s value is equal to or less than your funeral expenses.
If your estate doesn’t meet the criteria for simplified probate or a summary release from administration, it will undergo formal probate. This is a bit more complicated and might include legal contests. An Ohio probate and estate administration lawyer can protect your estate’s interests during the process.