What Assistance Do You Provide To Clients Going Through Probate?
The most important thing that we provide to clients who are going through the probate process is an explanation of what needs to be done. Many people approach this process with apprehension, which may be worsened by the fact that they’ve recently lost a loved one. We do everything we can to make them feel at ease, talk them through the process, and eliminate as much stress as possible by providing direction every step of the way.
What Actually Is Probate?
When someone dies without a will in Ohio, their assets—whether in the form of cash, a house, a boat, furniture, etc.—will be subject to the probate process and distributed in accordance with the statute in the state of Ohio, which outlines which assets should be given to whom and how the debts will be handled. For example, if someone died with $100,000 worth of assets and $20,000 worth of bills, then $80,000 would remain for their heirs.
Is There More Than One Type Of Probate?
There is more than one type of probate. For example, a complete administration can be done for estates worth more than $100,000. A relief administration can be done if the assets are estimated at less than $35,000 for any person entitled to the estate (such as the next of kin or a friend), or if the assets are valued at or below $100,000 and left entirely to a surviving spouse. Relief administrations move quickly and are usually less expensive than full administrations. However, the time allowance for someone to file a claim between the two types of administrations is the same, which is up to six months after the death of the individual.
Relief administrations can usually be completed within six weeks to two months, whereas complete administrations usually take between six and nine months. If outstanding bills surface after that time, then the case will need to be reopened and those bills will need to be dealt with. If one can be certain that there are no outstanding bills and they are dealing with a small estate, then a relief administration will be sufficient, as well as quicker and less expensive than a complete administration.
An application for summary release can be useful when an estate is worth no more than $5,000 and a friend or family member pays for the funeral expenses out of pocket. For example, if an individual died and their only asset was a car that’s worth $2,500, and if their brother paid a funeral bill of $5,000, then that brother could submit an application for a summary administration in order to use the value of the car as compensation for the cost of the funeral. This, however, would require that anyone else who may be entitled to receive that car be notified or sign a waiver. Summary releases are very rarely done, but I have handled a few throughout my career.
For more information on Probate Process In Ohio, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (937) 247-6447 today.