The most important thing to learn about probate is how to avoid it. The entire probate process (which involves the transfer of assets from a deceased person to the heirs) can be long, complicated and expensive. Fortunately, Ohio offers a number of options for people who wish to act in a timely manner and spare their families the hassles of probate.
1. Living trusts can be used in Ohio as a vehicle for avoiding probate for almost any asset someone may own: real estate, vehicles, bank accounts, etc. A trust document names a trustee to take over after the death of the creator of the trust. The new trustee subsequently transfers the property to themselves without probate court being required.
2. Joint ownership of property with the right of survivorship automatically transfers property to the surviving owner.
3. Payable-on-death for bank accounts and transfer-on-death designations for securities, vehicles and real estate allows these assets to transfer without probate.
4. Small estates can follow certain procedures to avoid probate.
Everyone’s personal situation is unique, but very few would not want to know that they have provided for their loved ones in the best way that they can. It’s difficult for many to confront this type of decision-making, but it is important to do so. Without any provision being made via a will, living trust, etc., families can be forced to spend years and a substantial portion of the estate simply to inherit what was intended for them.
Setting up matters so that the heirs will automatically inherit requires the services of a probate attorney in Kent Ohio. The skilled attorneys at Perduk, Hamey & Associates can advise clients as to the best way to ensure that their last wishes will be carried out. In addition to their expertise in probate law, the firm also handles cases involving family law, workers’ comp and personal injury, DUI and other driving-related problems, business law and real estate law.