HELPING FAMILIES WITH STRATEGIC GUIDANCE
Probate is the process of transferring title of various assets left by the decedent and legally changing ownership to another. Probate also concludes the decedent’s financial affairs like paying creditors and filing final tax returns. Many times this becomes a very complex and arduous job and more than the Excecutor is able to do alone. With strategic guidance from the expert legal team at Estate Planning, Trust and Probate Law Firm, LLC, we will ensure that everything is handled properly for successful results for the beneficiaries. We take challenging probate situations and resolve them with legally sound solutions.
PROBATE TIMELINE
- Information gathering
- Preparing initial documents
- Opening the Estate
- Inventorying of Assets
- Filing the inventory
- Selling assets
- Funding calls
- Selling assets
- Funding calls
- Paying creditors
- Making distributions to beneficiaries
- Filing the account to close the estate
GETTING READY FOR THE INITIAL CONSULTATION
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Initial Information Gathering
The probate journey typically spans at least six months, beginning with a crucial foundation-building phase. This initial stage involves collecting essential information about the departed loved one—referred to in legal parlance as “the decedent”—and their worldly possessions. This comprehensive gathering includes securing the will and official death certificate, identifying the designated executor or administrator who will shepherd the process, mapping the network of heirs and their intended inheritances, creating a detailed catalog of assets, and documenting outstanding financial obligations, including final expenses such as funeral costs.
Creating a Complete Financial Picture
The next chapter involves creating a comprehensive inventory of the decedent’s possessions, encompassing personal belongings, financial accounts, real property, and additional assets. Our team will establish a dedicated Estate checking account, arrange professional appraisals where needed, and prepare and submit any required tax documentation.
Transforming Possessions into Funds
At this juncture, various assets—including residential properties, vehicles, and personal effects—may be liquidated and converted to monetary funds. The proceeds from these transactions are then utilized to satisfy outstanding creditor obligations, with the remaining balance distributed to the rightful beneficiaries according to the decedent’s wishes.
Establishing Court Authority
During this pivotal phase, meticulous legal documentation addressing these matters is carefully prepared, and the estate is officially established within the Probate court system. As your advocates, we undertake numerous significant responsibilities on your behalf, including submitting all required documentation, covering court deposits, attending necessary legal proceedings as mandated by the court, and securing a Letter of Authority that formally appoints a Fiduciary. We advance all filing fees, which are later reimbursed from estate funds once they become available.
Judicial Review
Upon completion of the detailed inventory, we submit the findings to the court for review. The Probate judge may schedule a formal hearing to examine the documentation. We stand as your representatives throughout this judicial examination. Following the inventory submission, we meticulously gather all legitimate expenses and creditor claims, sometimes requiring the publication of formal legal notices in appropriate newspapers.
Final Accounting
The concluding step involves submitting a detailed record of all estate financial transactions and formally closing the estate. With these final actions, the Probate journey reaches its completion, bringing resolution and closure to both legal obligations and family matters.
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Full Service Representation for Estates Involving Land Sales
NO DEPOSIT
FOR FULL ESTATES
Opening a full administration estate case requires an initial deposit with the court and other fees ranging from $250-$1,500. If you can’t afford the initial deposit, don’t worry. We will cover it for you until there is money in the estate to reimburse us.
SALE OF NO OR LOW
EQUITY PROPERTY
If the mortgage is more than the property value, most attorneys won’t take the case because they don’t know how to find the money. We love these cases because we know how to ensure that you and I get paid ahead of the lender.
FORECLOSURE
AVOIDANCE
If there is a mortgage, the property can go into foreclosure if the mortgage is not paid. We have an effective way of avoiding foreclosure that puts you in control of the sale that other attorneys don’t know. We must act before a foreclosure is filed, so time is of the essence.
MORTGAGE
FORBEARANCE
Having to pay the mortgage while the probate case is pending can be a huge financial burden on the estate or beneficiaries. We have an effective way to stop mortgage payments until the house is sold.
HOUSE CLEANOUT
ASSISTANCE
Regardless of the size of the house or the amount of personal property in it, we’ll get it cleaned out and ready for sale saving you time and energy. Usually, there is nothing owed after the clean out is done.
EVICTIONS OF
UNWANTED OCCUPANTS
Our team includes experienced eviction attorneys who can handle the eviction process to remove any unwanted occupants from the premises.
HOME PURCHASE BY
BENEFICIARY
In cases involving a family home, we can help a beneficiary purchase the home, with no money down in most cases.
ONLINE PERSONAL
PROPERTY AUCTION
If there is personal property in the house that needs to be sold, don’t worry. We’ll arrange for the cataloging and sale of these items including vehicles through online auction to maximize profit.
Frequently Asked Questions
“Probate” is the legal process through which a deceased person’s assets (such as bank accounts, vehicles, real property, and investments) are transferred to others. County Probate Courts oversee this process. When a person makes a Will, it controls how his or her assets will be transferred. If a person dies without a Will, the probate law in Ohio will control how the assets will be divided. If there are no living family members, the assets go to the state.
The Probate Court appoints an executor or administrator for each estate, and that person is responsible for managing the estate. The executor or administrator will determine what assets the deceased person owned, pay any bills the person owes, and then distribute the remaining assets. These are called “probate assets.” Certain kinds of assets do not have to go through probate. Any asset that goes directly to another person following someone’s death without having to go through the probate process is called a “non-probate asset.”
As mentioned above, some of your assets will not have to go through the probate process if you take steps now to make sure that they will transfer directly to another person when you die. For example, you can:
- Make sure that your home or other real estate transfers to another person by preparing a particular kind of deed;
- Put most or all of your assets in a “living trust,” which allows you to use and enjoy the assets during your life, but transfers them to your loved ones after your death; and
- Ensure that your retirement and other investment income will automatically be paid to your spouse, children, or charity.
But it is not enough to simply leave a letter or even a Will saying you want these things to happen. You will need to adhere to the legal processes that Ohio law establishes in order for these transfers to occur automatically. My office can help you make sure you do it according to the law.
Even when the gross value of the estate (probate assets and certain non-probate assets) is small, the probate process can take a long time. During that time, the family of the deceased person must wait for the distribution of the person’s assets, even though life goes on and bills pile up. The process itself can also be costly. The executor or administrator is entitled to a percentage of the estate’s assets for the work he or she does and there will also be attorney fees paid from the estate. That is money that will not go to the person’s family members. There are nine basic steps to probating an estate:
- Filing of an application for authority to administer the estate, admit the will to probate, if one exists, and notification of probate;
- Appointment of fiduciary;
- Gathering assets and obtaining appraisals as required;
- Filing an inventory and schedule of assets;
- Selling assets to convert to cash;
- Paying creditors;
- Filing estate and income tax returns and paying taxes, if any (as of January 1, 2013, Ohio no longer has an estate tax);
- Distributing remaining assets to beneficiaries;
- Filing accounts; and
- Closing the estate.
It can take months or years to complete these steps depending on the case. If the gross value of the estate is small enough, Ohio law allows you to file a summary release from administration or to apply to relieve the estate from administration to expedite the process.
We will spend some time talking about what you have and what you want to do with it. Once we have had that conversation, we can tell you what steps would help you prepare for your family. Also, we can tell you what it will cost to make those preparations. Think of our team as a personal trainer for your estate. Our job is to help you reach the estate goals you set for yourself.
You want to limit or avoid probate because:
- It can take a long time to administer even simple estates,
- It can take money from your savings and other assets – money that would otherwise go directly to your family.
It is also worrying for your family—the very people you have always worked so hard to protect and preserve from worry. By investing some time and money to set up these automatic transfers, spouses, parents and grandparents can help their family members avoid or limit probate after they pass away.
The probate court in the county where the deceased was a resident at the time of death has jurisdiction.
Before we can collect attorney fees from the estate or beneficiary, the probate court must approve it. Some counties allow attorneys to charge attorney fees based on a percentage of the value of the probate and non-probate properties, but the Franklin County Probate Court prefers that attorneys charge an hourly rate and provide an itemization of the time spent on the case as proof that the fee is reasonable. We follow the Franklin County model and charge an hourly fee.
Depending on the case, the probate court requires an initial deposit of $113-$250 to cover court costs as the case proceeds. Any unused portion of the deposit will be returned to the estate. We offer affordable rates that range from $150-$250 per hour depending on the task. We guarantee you our most affordable rate and charge in six-minute increments so you don’t pay for a full hour if we complete an assignment in less time. These fees are not paid by the executor, administrator, or beneficiaries, they are paid from the estate’s assets at the conclusion of the case unless the court approves an earlier payment.
If you’re ready to discuss an estate plan or your relative has passed away, call our office at (614) 610-4545. When we schedule the first appointment, my office will tell you what you need to bring to our first meeting to get started.
SCHEDULE A FREE INTRODUCTORY MEETING
Estate Planning, Trust, and Probate Law Firm welcomes you to reach out to our legal practice to schedule an introductory consultation concerning your estate, trust, probate and guardianship concerns.
With offices in Columbus and Delaware, Ohio, we extend our services throughout the state to better assist you. Request a free introductory meeting now by submitting the form on the right.
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