Probate: the word dreaded by many. No one wants to find themselves entangled in legal matters, family inheritance disputes, or making significant decisions that impact their loved ones. This time-consuming process can take a toll — not just on the executor (the person handling everything), but also on those waiting for their portion of the inheritance.
Each state has its own set of laws and regulations regarding probate. In this blog, we will dive into what probate means in Ohio, so you can better understand the process, ease the burden on your loved ones, or navigate the process with more confidence if you’re the one in charge.
What is Probate?
According to Ohio Bar’s definition “Probate is a legal proceeding to administer certain kinds of property (called probate property) owned by someone who has died (the decedent), to see that claims, expenses and taxes are properly paid, and to see that the remaining estate is distributed to those entitled to receive it under the terms of the decedent’s will or under Ohio law.”
In simpler terms, probate is the legal process that happens after someone passes away. Probate ensures all taxes, debts, and expenses are paid first. Whatever is left is then distributed according to what is stated in the person’s will. However, if there is no will, the Ohio Law will then decide who gets what, which may go against your intended wishes.
Probate occurs in the country where the person lived; however, if they owned property in another state, additional legal steps may need to be taken there as well.
The Process That Happens
The probate process starts when a case is opened in probate court. If the will names an executor, that person is appointed. If not, the court appoints an administrator, which can be an individual, a bank, or a trust company. The executor or administrator will then be responsible for managing assets, collecting money, paying debts and taxes, distributing assets to beneficiaries, and handling court paperwork.
This is a big responsibility that often requires attending court, filing taxes, and managing legal paperwork.
The Costs Involved with Probate
Probate costs greatly vary depending on the size and complexity of assets in the estate. For most cases, fees court fees typically start around $200. Aside from these fees, there are attorney fees that are usually charged on an hourly basis and must be approved by the court. Under Ohio Law, the executor or administrator of the estate gets a percentage of the estate’s value. These payments are taxable but can also be waived.
How to Avoid Probate
Depending on the complexity and size of the estate, probate can take 6 months to several years to complete, which is why many people often look to avoid the probate process. There are a few steps you can take to avoid probate:
Set up a trust – A trust typically allows an estate to skip the probate process and be distributed quickly, efficiently, and privately.
Use beneficiary designations – Naming beneficiaries on life insurance, bank accounts, and retirement funds allows for instant transfer of these assets.
Create a TOD (Transfer-on-Death) or a POD (Payable-on-Death) – You can add assets like bank accounts, property, and vehicles which will be transferred automatically upon death. Although this can be an option this is often not the best solution. We strongly encourage guidance from an estate planning attorney if going this route.
Own joint property – under Ohio law, when you jointly own assets, after you pass away, the other person will gain full ownership of the assets, such as a car or property.
Work With an Estate Planning Attorney
Every estate is different. An estate planning attorney can help you set up or update your plan, ensure everything is legally in place, and guide you through the probate process if needed.
At Deliberato Law Center, we’re here to help you create a smooth transition for your loved ones or support you through the probate process with confidence.
