Columbus, OH Probate Lawyer

What Is Probate And Why Is It Necessary?

While probate isn’t necessarily favorable, it’s not an inherently “bad” thing; it doesn’t mean that your loved one did anything wrong or that their family is being punished for something. Probate is simply the process that must happen to ensure that a deceased person’s assets (the money and possessions they owned) are passed on according to the terms of their will. Without it, any person could make a claim to the estate! Yes, probate takes a long time (9-12 months) and can be expensive (3-7% of the estate’s total value), but it’s necessary to ensure that your loved one’s last wishes are carried out. They likely just did not realize how an effective estate plan could have benefitted their family and protected their hard-earned wealth, or maybe they just ran out of time. 

What Does Probate Look Like In Ohio?

Probate may look different for each estate, which is why it’s important to consult with our knowledgeable Columbus probate lawyer who can analyze the specifics and determine 1) whether probate is necessary, or whether a simplified version may be possible, and 2) what assets must go through probate before being distributed. 

For example, Ohio offers something called small estate probate for estates valued at less than $100,000, with all assets going to the decedent’s spouse. In the case that all assets are not going to their spouse, the value is lowered to $35,000 to qualify for small estate probate. 

Additionally, not all assets must go through probate. In Ohio, the following assets can be passed on to a joint owner or beneficiary automatically:

• Real estate held in joint or survivorship form
• Assets and property with a transfer-on-death designation
• Insurance proceeds with a named beneficiary
• Payable-on-death bank accounts
• Assets held in a trust

How Can A Columbus Probate Lawyer Help?

If you were named the estate executor in your loved one’s will (or appointed administrator by the probate court in the absence of one), there is a laundry list of responsibilities you’ll have to contend with, including:

• Formally notifying creditors, heirs, and the public of the death and of the opening of the probate case
• Gathering, inventorying, and appraising the decedent’s assets
• Settling outstanding debts with creditors 
• Responding to creditor claims
• Filing final tax returns
• Paying any applicable taxes, including those on the estate
• Filing a formal accounting 
• Communicating with the courts 
• Distributing assets to beneficiaries 
• Submitting a petition to close the estate 
• And more. 

With so much to do and keep track of, it would be easy to make a mistake, especially in the midst of your grief. Working with an attorney can give you the confidence of knowing that everything has been handled correctly and that no major missteps are going to jeopardize the progress of your case. 

Dailey Law Offices Is Committed To Resolving Probate Swiftly And Effectively

Probate is a lot to handle when you’re grieving while also juggling the day-to-day duties of your own life. Our compassionate Columbus probate lawyer can minimize your stress and help you move forward. Call today to schedule your free consultation and get your questions answered today.