Probate Services

The Probate Process in Ohio

The probate process in Ohio typically involves the following steps:

1. Filing the will and petition: The person named as executor in the will (or a family member if there is no will) files the will and a petition for probate with the probate court.
2. Appointment of executor/administrator: The court formally appoints the executor or administrator and issues "letters of authority" giving them legal permission to act on behalf of the estate.
3. Inventory of assets: The executor/administrator must compile a detailed inventory of all probate assets and their values.
4. Notification of creditors: Creditors must be notified of the death, either directly or through a published notice in a local newspaper.
5. Payment of debts and taxes: Valid debts, funeral expenses, and taxes are paid from estate assets.
6. Final accounting: The executor/administrator provides a final accounting to the court showing all income received and payments made from the estate.
7. Distribution of assets: Remaining assets are distributed to the beneficiaries according to the will or state law.
8. Closing the estate: Once all tasks are complete, the executor/administrator asks the court to close the estate.

The entire process can take anywhere from six months to over a year, depending on the complexity of the estate and whether there are any disputes among heirs or creditors.

Probate vs. Non-Probate Assets

Not all assets go through probate. Understanding the difference between probate and non-probate assets is important for estate planning and administration.

Probate Assets

Assets that typically go through probate include:

• Property owned solely by the deceased with no beneficiary designation
• The deceased's share of property owned as "tenants in common"
• Personal property such as vehicles, furniture, and collectibles
• Bank accounts solely in the deceased's name without a payable-on-death designation

Non-Probate Assets

Assets that typically bypass probate include:

• Property held in joint tenancy with right of survivorship
• Property held in a living trust
• Life insurance policies with named beneficiaries
• Retirement accounts (IRAs, 401(k)s) with named beneficiaries
• Bank accounts with payable-on-death designations
• Real estate with transfer-on-death deeds

Non-probate assets pass directly to beneficiaries or surviving co-owners without court involvement, generally making the transfer faster and more private.

Strategies for Avoiding Probate

Many people choose to avoid probate when possible because it can be time-consuming, expensive, and public. Here are some common strategies for avoiding probate in Ohio:

Living Trusts

A revocable living trust allows you to transfer ownership of your assets to the trust while maintaining control during your lifetime. Upon your death, assets in the trust pass directly to your beneficiaries without going through probate.

Joint Ownership

Property held in joint tenancy with right of survivorship automatically passes to the surviving owner(s) when one owner dies, bypassing probate.

Beneficiary Designations

Many financial accounts and assets allow you to name beneficiaries who will receive the asset upon your death:

• Payable-on-death (POD) designations for bank accounts
• Transfer-on-death (TOD) registrations for securities and vehicle titles
• Transfer-on-death designation affidavit for real property in Ohio

Small Estate Procedures

Ohio has simplified procedures for small estates:

• Release from Administration: Available if the estate value is $35,000 or less, or up to $100,000 if the surviving spouse inherits everything
• Summary Release from Administration: Available in limited circumstances, such as when the surviving spouse inherits everything and the estate value doesn't exceed $100,000

Mr. Pirnia can help you determine the most appropriate strategies for your situation, balancing the desire to avoid probate with other important estate planning goals.