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Probate Law Firm Stiefvater Law, limits the clients it represents at any given time in order to provide efficient and cost effective service to clients throughout the probate process. Probate is the legal process through which a decedent’s estate is administered when a person dies.
Probate in its simplest form is a legal process that results in the transfer of assets from the decedent to a living person or persons. Probate can be expensive – in both time and money. Many people chose to avoid probate by establishing an estate plan while they are still alive. A proper estate plan can save the heirs and estate time and money and ensure that the decedent’s assets are distributed according to their wishes.
Under the law, assets are either deemed probate assets or non-probate assets. Probate assets must go through the legal process of probate in order for ownership to transfer. Assets that are considered non-probate assets do not need to go through probate to change hands. Probate Attorney Robert Stiefvater will sit down with you and go through each asset to determine whether or not it is a probate or non-probate asset.
Probate assets, among other items, consists of individual assets, tenant in common assets, Assets with predeceased beneficiaries or no beneficiary named, and assets left out of a trust. Most non-probate assets are those with named beneficiaries.
Tenant in common assets are assets titled in the decedent’s name as a tenant in common with one or more individuals. This is most common with real estate but can also apply to other assets. Tenants in common should not be confused with joint tenants or other rights of survivorship titled assets which do not require probate.
Non-probate assets include assets with named beneficiaries, including payable on death or transfer on death, joint accounts, certain forms of real estate ownership, and items left properly titled to a trust.
Get a free consultation with one of our Probate Attorneys and get answers to your questions.
If you die without a will, that is called intestate. In this situation, the laws of the State of Ohio direct who gets what from the decedent. Typically, the law provides for the surviving spouse (if any), children, and other lineal descendants. Step-children come last and often not at all.
The law provides for many simple and not so simple situations. What follows are some example provisions from the Ohio Revised Code:
2105.02 Construction of living and died.
When, in this chapter, a person is described as living, it means that the person was living at the time of the death of the intestate from whom the estate came and that the person lived for at least one hundred twenty hours following the death of the intestate, and when a person is described as having died, it means that the person died before such intestate or that the person failed to live for at least one hundred twenty hours following the death of the intestate.
Probate Lawyer Robert Stiefvater understands the emotional weight of losing a loved one. He will handle the legal probate process so you can focus on the healing process.
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