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The Petition provides the court with basic information about the estate, such as the decedent’s identity and date of death. It also discloses whether a Will exists, the decedent’s next of kin, the proposed fiduciary, and an estimate of the estate property and value.
The process of administering the estate will vary depending on whether the decedent had a valid will and the size of the estate.

Probate process for a small estate

In Ohio, if the decedent’s estate is small enough, the law allows the estate to be probated using a simplified process called “release from administration” or “summary release from probate”.

A Release from Administration is allowed when the assets to be transferred of the deceased’s estate is below court set limits. The small probate process will apply when:

• There is a surviving spouse who inherits all the probate property (either stated in the decedent’s will or if there is no will, by state law), and the assets are under $100,000.
• There is no surviving spouse and the assets are under $35,000
• The process is usually shorter, involves less paperwork, and is less expensive. It usually takes about two to four months, after which the probate court orders the estate assets to be distributed to the people who inherit them.

A Summary Release from Probate is even less burdensome than a Release from Administration. It is applicable when:

• There is a surviving spouse who inherits everything and is entitled by law to a family support allowance.
• The estate is worth no more than $45,000
• There is no surviving spouse and value of the estate is less than $5,000 or the funeral expenses amount to $5,000.

Filing for both release of administration and summary release of administration costs between $110 and $120. Before the court officially issues the Release of Administration, there are four conditions that need to be met.

• The value of the estate meets the required financial limit.
• All of the assets of the estate that qualify for probate are accurately listed in the documents filed with the court at the time of processing.
• All relevant parties, including heirs, beneficiaries, and creditors have received sufficient notice of the application for a Release from Administration and any related hearing.
• The approval of the application does not prejudice or prevent creditors from bringing a claim against the estate at a later date.

What kind of assets qualify for probate?

Assets that qualify for probate are those that are registered in the name of the decedent only. Examples include:

• Bank accounts in the decedent’s name with no co-owner and no beneficiary designation.
• Real estate that is owned by the decedent individually.
• Real estate that is co-owned as tenants in common.
• Stocks and bonds in the decedent’s name.
• Tangible possessions such as clothing, jewelry, household furniture and cars registered in the decedent’s name only.

What kind of assets skip probate?

• Property in a revocable living trust. These are usually designed to avoid probate.
• Assets owned as joint tenant with a right of survivorship. These automatically pass to the surviving owner.
• Assets held by a married couple in tenancy by the entirety. This is available only if the tenancy by entirety was created between 1972 and 1984.
• Life insurance policies and retirement accounts with a designated beneficiary
• Bank accounts with payable on death (POD) or transfer on death (TOD) clause.
• Real estate subject to an Ohio transfer on death “designation affidavit”

Who conducts a probate / estate administration proceeding?

Generally, the person named to serve as executor in the decedent’s will takes charge of the estate. If the decedent died intestate, or the named executor is not available, or willing to serve, the probate court will appoint someone to serve as administrator. If there is a surviving spouse, he or she has first priority to be appointed as administrator.

Once the court issues a document called “Letter of Authority”, the executor’s job consists of proving the validity of the will and settling the estate. The executor must also be careful to record accurately, the details of how the estate assets were handled and distributed.

What is the cost and duration of formal probate?

The cost of formal probate can be really high, which is why so many people take steps to avoid it. In Ohio, the costs commonly include:

• Court costs (usually between $200 and $250)
• Executor or administrator’s fee, which is usually based on a percentage of the value of the probate estate
• Attorney fees
• Appraisal fees
• Federal estate tax (if the estate is large enough)

Most probate proceedings can be wrapped up in about nine months after the executor or administrator is appointed. Creditors have six months to file a claim, so the probate proceedings should last at least that long. If the estate owes state or federal tax, it is likely to last a year or longer.

Contact us for help with your probate and estate administration needs

At Shur Law, we have extensive experience in estate planning, administration and probate. We are able to bring this considerable experience to bear when we handle your case. Every case is unique, and we are dedicated to giving your case the special, personal attention it deserves.

Please call us on 1-513-449-0990 to schedule a consultation.

The post What is the probate process in Ohio and Kentucky? first appeared on Shur Law.

Divorce

The primary difference between divorce and dissolution is whether or not the parties are alleging fault of the other spouse as the grounds for the divorce. Divorce requires that one party allege fault on the part of the other spouse as a reason for terminating the marriage. Examples of causes for divorce that Ohio recognizes is parties living apart for more than one year, adultery, habitual drunkenness, and extreme cruelty. Ohio lists these causes for divorce by statute and the list here is not a complete one.

Further, divorce is the option for legally ending a marriage when parties cannot agree on the terms of their separation agreement. If parties cannot decide between themselves for example as to how they will handle the separation of assets or custody of their children, a complaint for divorce is filed and temporary motions and court involvement may be required.

Dissolution

On the other hand, a dissolution can be thought of as a no-fault divorce. Fault grounds are not required for a dissolution. If the parties can negotiate and come to an agreement on all terms of their separation agreement, then the parties can petition for a dissolution. A dissolution of marriage can alleviate a lot of the divorce process and expense by eliminating the need for court involvement during negotiations. In a dissolution, once the parties reach agreement as to the details to their separation agreement, the agreement can be filed with the court and a final merits hearing can be scheduled. Dissolution can be more streamlined than a divorce.

This nutshell view comparing the processes of divorce and dissolution is just a broad overview. Before undertaking a divorce or dissolution to end a marriage, consulting with an attorney can answer questions you may have about the specifics of your own case.

For a consultation about divorce or dissolution in Ohio contact Shur Law at 513-449-0990 or visit www.shurlaw.com.

This article is not intended to be legal advice. Please seek advice from a licensed attorney for specifics about your own case.

The post What’s the Difference Between Divorce and Dissolution? first appeared on Shur Law.

In addition, the child support guidelines in Ohio will change to be better aligned with the Affordable Care Act. For example, if a parent earns $50,000 per year in income and pays $5,000 annually for health insurance for their child(ren), the income figure used to calculate child support payments will be $45,000 (the annual income of the parent paying support, minus any health care costs that parent is paying).

HB 366 also brings new parenting time considerations into the calculations to account for costs that travel with the child. Ohio’s new child support calculation will take into account parent contributions during shared parenting time. The new law specifies a 10% parenting time adjustment for all standard parenting time orders (which is approximately every other weekend and one night per week or 90 overnights per year). Note though, if the child support obligor does not exercise their court ordered parenting time, the parent receiving child support can request that this parenting time adjustment to child support be eliminated by the court.

For child support payors who pay multiple child support orders to different obligees, Ohio’s March 2019 child support update will do away with the current multiple support order hierarchy. Currently, the first child to receive child support receives the most. With the upcoming 2019 changes, Ohio’s goal is to ensure that each child receiving support receives the same financial benefits. HB 366 will treat all children equally by providing a standard income deduction.

Will the Changes to Ohio Child Support Be Retroactively Applied?

The changes to Ohio’s child support laws will not be retroactively applied. These updated calculations and considerations will be assessed for new orders or for reviews of current child support orders in place.

This article provides a broad overview of the changes to Ohio’s child support laws in 2019, and is not a complete analysis of the 2019 changes in Ohio. Every person’s custody and support situation is unique. The best way to gain a true assessment of your own child support case is to contact an attorney. This article is not intended to be specific legal advice.

Please call Shur Law to set up a consultation to discuss the specifics of your case and how the upcoming child support changes in Ohio may affect you 513-449-0990.

The post 2019 Changes to Ohio’s Child Support Guidelines In a Nutshell first appeared on Shur Law.