To settle a decedent’s estate, the courts and, if applicable, their will’s named executor must oversee a process called probate. With a will, the decedent determines who among their friends, loved ones, and favorite charities will inherit their assets. Without a will, the state decides by following specific laws.
If you are named an executor or are a beneficiary of a loved one’s generosity, you may wish to speak to an experienced estate administration attorney for guidance. Probate can be complex, but legal counsel from a Dublin, OH probate lawyer at DuPont Law Group could help you navigate the process with confidence.
How Does Probate Work?
If an individual dies without a will, the county court will assign an administrator to oversee probate. A family member or loved one can apply with the court to become the estate administrator. If a will exists, its named executor will begin the process by petitioning the court to open a probate case. The court will then validate the will, ensure that there are signatures and witnesses, that the maker was of sound mind, and that the document lists beneficiaries. The executor’s duties include:
- Affirming for the judge that they will accept the duties of an executor
- Conducting an inventory and valuing the estate’s assets
- Selling estate assets to pay creditors
- Completing, filing, and paying the decedent’s income taxes
- Reporting estate or inheritance taxes to the federal government, if needed
- Distributing the remaining assets to the named beneficiaries and closing the estate
Executors or administrators are entitled to a percentage of the estate for rendering their services, which can be time-consuming and complex. For help understanding probate in Dublin, OH, call an experienced lawyer who is familiar with the process.
Smaller Estates Can Circumvent Probate
Some estates and assets qualify to avoid probate. In Ohio, you can use a streamlined process, often called a release from administration, for “small” estates. The Franklin County Probate Court defines a Small Estate as a surviving spouse inheriting the entire estate of less than $100,000, or someone else inheriting the entire estate of less than $35,000. By law, some assets do not go through probate, including retirement accounts, life insurance payouts for which beneficiaries are named, and bank accounts with pay-on-death benefits.
Our probate attorneys in Dublin, OH could organize your estate planning and ensure the process is carried out properly and according to your wishes. Similarly, a lawyer could help executors understand what assets can avoid probate and why.
Ask a Dublin, OH Attorney For Help Navigating Probate
After years of saving, investing, and taking care of your loved ones, ensuring you can properly pass your estate down to your beneficiaries is essential. The probate court process helps to do this with or without a will. However, having a will could help loved ones avoid conflict after your death.
Whether you are a named executor, court-appointed administrator, or beneficiary wondering how the probate process works, our Dublin, OH probate lawyers from Dupont Law Group can help. Contact us today to schedule a consultation.
Greg DuPont, JD, CFP®, is a well-respected estate attorney, financial advisor, public speaker, and published author. He centers his multiple businesses around education, guidance, and relationship-building. This comprehensive combination gives him, and his team, the opportunity to effectively serve both individuals and their families. He is a life-long resident of Central Ohio and spends the majority of his time with his wife, Julia, and daughter, Sophie.
