Probate and Its Impact on Inheritance
When an individual dies, with or without a will, the estate must go through probate. This process is crucial for authenticating the will and managing the estate’s distribution.
Beneficiaries cannot access their inheritance until probate proceedings are finished. For larger estates, the probate process might take several months to over a year, delaying the transfer of assets.
Probate can be a complex process, but legal help is available. Our Ohio probate and estate administration attorney can help you administer the estate. We are also available if you believe the administrator or executor isn’t acting in the estate’s best interest. Contact us today to discuss your case.
What Assets Don’t Go Through Probate?
Only some assets have to go through the probate process. Non-probate assets include:
- Assets inside of a revocable or irrevocable trust
- Jointly owned assets
- Assets with designated beneficiaries
- Transfer-on-death assets
Types of Probate in Upper Arlington
In Upper Arlington, there are three key probate types. Simplified probate is available if the estate is worth less than $50,000. Estates under $100,000 will also qualify if the entire inheritance goes to the spouse.
Another option is the summary release from administration for estates valued at under $5,000. Estates can also qualify if their value does not exceed the funeral expenses.
For estates that do not meet the criteria for the first two categories, formal probate is necessary. This option is more complex and could involve legal challenges.
Our Upper Arlington estate administration and probate lawyer can protect your estate’s interests during the process.
The Role of an Estate Administrator or Executor
In creating a will, it’s important to appoint an executor. If you don’t, the probate court will designate an administrator, typically the surviving spouse, if available. The executor or administrator must first verify the will. They will then take an inventory of the assets and have them appraised.
Following this, they are tasked with paying off any taxes and debts. The final step for the executor or administrator is to distribute the estate’s property.
While some administrators and executors choose to handle probate themselves, many find that hiring a trust administration and probate lawyer makes the process much easier. From legal challenges to record-keeping, our probate administration attorney can assist with every aspect of probate.
Will Dispute Resolution
Challenges to wills can surface during probate, requiring skilled legal help. Individuals with the right standing can contest a will. Our Upper Arlington probate administration lawyer can help you defend or contest a will.
Executors can depend on us to uphold a will, as well as file a claim against a will if needed. Contact us to discuss your legal course of action.
Probate Timeline and Your Attorney’s Role
While the probate process typically lasts around nine months, this can be affected by estate size and legal issues.
Our Upper Arlington probate and estate administration attorney will handle probate court guidelines, legal disputes, and creditors to streamline the process for you.
