Understanding Ohio’s Probate Laws
When your family has lost a loved one, probate and administration of your family member’s estate may be the last thing on everyone’s mind. However, if your loved one created a will, the court requires filing the will as soon as possible. The probate process with a will is known as “testate” proceedings. The distribution of probate property will be subject to the decedent’s will. Without a will, the process is an “intestate” proceeding and property will be subject to distribution under Ohio’s Statute of Descent and Distribution.
One of the primary purposes of a probate proceeding is to grant the executor or estate administrator legal authority to carry out essential duties. The executor will be responsible for notifying heirs, inventorying outstanding debts, notifying creditors, paying taxes, obligations, other administrative costs and finally distributing the decedent’s assets. The process is not always as straightforward as it sounds. Working with an experienced probate attorney can assure timely completion of the probate process. Call the Law Office of W. Michael Conway to learn more.
Not All Assets Are Probate Assets
If the decedent’s property is held with another person as “joint tenants with rights of survivorship,” that property is not subject to a probate court proceeding. Property with named beneficiaries is usually not subject to probate. This type of property may include:
- Retirement benefits
- Life insurance policies
- Property held in a trust
- Payable on death (POD) accounts
- Will transfer on death (TOD) accounts
The distribution of nonprobate property will be made to the named beneficiary directly. All other property may have to pass through either an informal or formal probate proceeding before the distribution.
Probate Disputes? Consider Mediation
Allegations of fraud or misappropriation can derail estate administration and lead to lawsuits or divisive feuds. Mike Conway is an experienced and court-approved probate mediator who can serve as a neutral third party to help families find an out-of-court solution.
Grieving Is Hard. Call 937-741-3988 Today.
At the Law Office of W. Michael Conway, initial consultations are complimentary. Mike is as compassionate as he is wise about all matters involving probate and estate administration. He understands how difficult it can be for families after the death of a loved one. Working with a certified estate planning, trust and probate attorney by the Ohio State Bar Association can ease the burden of the daunting tasks of an executor or trustee of a trust. Call the Law Office of W. Michael Conway in Dayton at 937-741-3988 or email Mike through this website to start the conversation.