estate planning

Estate planning is the process where an individual decides what will happen with their property upon their death.  Your estate is made up of all of the property that you own.  Estate planning is not just for the elderly or wealthy.  No matter how much or how little property you own, you still need to plan ahead.  No…

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death designation affidavit

When planning for the future one thing to think about is how to transfer any real property that you own.  Your estate will incur additional costs and fees if you fail to properly plan ahead.  Costs like probate filing fees, administration costs, attorney fees can be very pricey.  Creating a Transfer-On-Death Designation Affidavit is one way to help avoid…

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simultaneous death act

What happens to an estate when a husband and wife die at the same time?  How do you handle the property of each estate?  Ohio Revised Code § 2105.32 states that there has to be clear and convincing evidence of one person surviving another for 120 hours in order to inherit property.  What if  you cannot…

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debts of the estate

The Probate Court will appoint a Fiduciary (Executor of Administrator) to handle and distribute the property of the estate.  Another job of the Fiduciary is to pay the debts of the estate.  The creditors of the estate cannot go after the family members or beneficiaries of the deceased for monies owed.  The creditors can only go after estate property…

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intestate

According to LexisNexis approximately 55% of American adults do not have a will or other estate plan in place.  When a person passes away and does not have a will they are deemed to die intestate.  Some people think they don’t need a will because their spouse will simply inherit everything.  But what happens when life…

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probate

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…

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Estate Administration When a loved on passes away you will open up an estate to transfer property to the rightful beneficiaries.  There are three types of estate administration.  (1) Summary Release (2) Release from Administration (3) Full Administration.  The estate that you file depends on the value of the estate. Summary Release from Administration Ohio Revised…

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