Tips on How to Avoid Probate Court

The number one question clients ask when planning for their future is “how can I avoid the Probate Court?”  Typically the Probate Court oversees the distribution of your property, and the Court approve certain transfers.  However, you can avoid this hassle with just a little planning on your part.  Therefore, a few minutes of your time and attention now can help save your family from headaches down the road.

Transferring Real Estate Outside of Probate

If you pass away owning real estate the Probate Court will need to approve the transfer of the real estate.  Depending on how the deed is set up determines on if the real estate is a probate asset.

• Survivorship Deed.  This document creates joint ownership in the real estate.  The real estate automatically passes to the survivor without the Probate Court’s involvement.
• Transfer on Death Designation Affidavit.  The Ohio State Bar Association describes this document as a way  to transfer real estate to a named beneficiary automatically upon your passing.  There is no joint ownership at the present time.

Transferring Motor Vehicles

You can name a beneficiary or beneficiaries to an Ohio title with a signed and notarized Affidavit to Designate a Beneficiary.  This allows a motor vehicle title to transfer to the named beneficiary without delay.

Financial Accounts

If the decedent is the only owner of the bank account the bank will freeze access to the account funds.  The financial institution will require Probate Court documents before giving anyone access to the account.  However, if the account is jointly owned, then the joint owner will maintain access to the funds in the bank account.

The way your assets are set up now determines how easily they transfer to your beneficiaries.  As you can see it only takes a small amount of planning to avoid potential issues down the road.