If people set up a trust as part of their estate plan, they need to select someone to administer this trust. There are a few things people should consider as they choose someone to be their trustee. Before people select a trustee, they may want to consider all the...
Probate, Trust & Estate Administration
Will your estate go through probate?
Probate can be a helpful process that occurs after your death and ensures the proper handling of your estate. In some situations, though, you do not need the probate process. Your heirs can handle your estate without legal intervention. However, your heirs will have...
What is a special administrator?
Ideally, an Ohio probate court will appoint the executor to handle the estate of your loved one without delay. A court will do this by granting letters testamentary to the executor of the estate, or letters of administration if a person has died intestate. But...
What is a release from administration?
Estate administration is the process of managing your estate after your death. With the court, through probate, your executor will ensure your assets go to your heirs and other details of your life conclude properly according to the law. However, administration or...
Why so many people choose a professional trustee
Naming a trustee plays an essential role in estate plans that involve the use of trusts. These people oversee a deceased person’s assets and ensure that disbursements and all other allowances go precisely as dictated. It is common for people to choose a loved one that...
What are my duties as a trustee?
If someone names you as a trustee for a trust in Ohio, then you will have specific duties you must carry out upon that person's death. The position of a trustee is one with serious fiduciary duty and moral responsibility. You need to make sure that you take this...
Understanding powers of appointment
A power is an authority that is conferred by one person, the donor, law on another person, the donor, to deal with property belonging to the donee. There are different sorts of power that can be given in the context of the trust's module in Ohio. According to the...
The probate process and how it may be avoided
Some heirs in Ohio aren't thrilled about the probate process that typically occurs when a loved one passes away. This is partly because of a lingering misconception that probate can be a long, drawn-out ordeal. However, the experience with probate court doesn't have...
What to know about being an executor
Ohio residents who are named the executor of an estate may have many resources at their disposal to help them do the job properly. For instance, there is literature that explains different estate plan documents and what they do. An attorney may also be consulted by an...
How can I decide at what age to grant inheritance?
One of the important aspects of developing your estate plan in Ohio is to determine who will get your assets. For most people, this means delegating your money. You will likely leave it to your spouse, if you have one, and your children. However, if you are doing your...