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The procedure to start an estate in the probate court after a person’s death is generally similar in Ohio and other states. The procedure can be slightly different if the decedent had no will. In either case, the probate court will not get directly involved in the estate’s details unless problems arise. Questions arose recently in a neighboring state regarding…
The general probate process is similar in all states. The terminology may vary to some extent in the different jurisdictions, creating what looks like divergent laws and procedures. Actually, the general pattern of probate is similar from state to state. At the same time, it is necessary to be familiar with the specific probate laws in one’s state, including here…
Over the past year or so, the media has given an extraordinary amount of attention to cryptocurrency. Arguably, the most popular form of this currency is bitcoin, but there is also litecoin, ripple and ethereum. Numerous people have invested in this monetary alternative for its privacy and security. Since it is so private, it is possible for someone to pass…
The strong point of making a will in Ohio and elsewhere is that it gives to the maker the right to control the disposition of estate assets after his or her death. This is no small benefit when one considers that, without a will, the disposition of assets will go by state statute. Without estate planning and a will, one…
The growing acceptance by most people in Ohio and nationwide of the benefits of the internet has resulted in their willingness to store even vital information, documents and financial accounts online. This trend brings up estate planning issues that require important evaluation and decision-making. There are now software programs that support this movement by assisting people in storing all digital…
For the business owner in Ohio and elsewhere, decisions have to be made regarding the succession of the business and the distribution of its wealth after the owner’s death. Although it seems at first blush controversial to say, it may be that one’s children are not the best beneficiaries to take over the ongoing business. Where the children have had…
The best way to do estate planning in Ohio is with the guidance of an experienced estate planning attorney. The process is complicated, may involve tax considerations and provides various choices that can best be made in consultation with a professional. Surprisingly, over half of all Americans don’t have even a will. That may be because people believe some of…
Ohio probate courts each year host numerous legal conflicts about whether the maker of a will or trust was competent when executing the legal instrument, or in the case of a living trust was competent throughout its revisions and administration. A will or trust can be struck down if the maker is proved to have been mentally incompetent or swayed…
Many people in Ohio have a will prepared but have not taken the additional steps of establishing an estate plan. A simple will may be inadequate to cover all of the issues that may arise in the future. Accordingly, estate experts suggest that the individual or married couple meet with an estate planning attorney to discuss the features and prospects…
The personal representative of the decedent’s estate in Ohio is responsible for managing and administering the assets of the estate. This includes the real estate owned by the decedent at his or her death. In some cases, other persons will be residing in the decedent’s residence or in other real estate owned by the decedent. The personal representative, who is…