Losing a parent could be one of the most difficult things you will ever have to go through. The shock of losing a parent can cause you to question what matters in life and how you should live in the future.
Modern families tend to be more complex than traditional ones. If, for example, you lose your parent, and their spouse, your stepparent, is still alive, you may wonder whether you will be entitled to a portion of your parent's estate. The answer to this question rests largely on the estate plan your parent has created. They may, for example, have created a trust for your benefit. They may also have added a clause in their will that includes their children as well as their spouse.
If your parent did not plan their estate, the way that assets will be divided will be subject to Ohio inheritance laws on intestate succession. It is important that you have a good understanding of these laws if you plan to be actively involved in the process.
Intestate succession for deceased parents
The way that assets are divided intestate in Ohio depends on whether the deceased person has a living spouse and children. If the deceased person has a spouse but no children, the entire estate will be inherited by the spouse. If the deceased person shares children with their surviving spouse, the entire estate will also go to the spouse.
However, if the deceased has one child who is not the child of their surviving spouse, $20,000 and 50% of their remaining estate will be inherited by the surviving spouse. The rest of the estate will be split equally by all living children.
If the deceased has more than one child who is not the child of their surviving spouse, $20,000 and 1/3 of the estate will be inherited by the surviving spouse. The rest of the estate will be split equally between all children.
If your late parent's estate is currently going through administration in Ohio, it is important that you ensure you get the inheritance that your parent intended you to have. To guarantee this, you should research the law and enlist legal guidance.