Probate is often an essential process to help administer estates based on state law. Aside from adequately distributing inheritances, it can also help organize and settle any debt or tax payments the deceased left before they passed. In Ohio, some laws can shorten the probate process based on the situation and the estate’s size. In some cases, the estate can avoid probate altogether.
Skipping or speeding up probate typically applies to small estates or straightforward scenarios, allowing quick asset transfers. These alternatives can save time and money by removing unnecessary components of the process.
Avoiding probate
This option may only take effect in specific instances, including the following:
- The estate’s value does not exceed $40,000 and the surviving spouse is the only inheritor.
- The estate’s value does not exceed $5,000
- The estate’s value is equivalent to the amount of the deceased’s final costs
If these situations do not apply, the estate may need to go through probate or its shortened alternative.
Shortening the probate process
There is a sped-up version of the probate process that applies to the following scenarios:
- The value of the estate does not exceed $35,000
- The value of the estate does not exceed $100,000 and the only inheritor is the deceased’s surviving spouse
This probate alternative can significantly simplify the process.
Navigating probate adequately
Sometimes, there is no other option but the traditional probate process. Unfortunately, it can be complex and challenging, putting the deceased’s surviving family members in a tough spot. The difficulty of the process can also vary, depending on the estate’s size, asset types and other unique circumstances that can affect the situation. When navigating the process, it can be helpful to seek legal guidance. Doing so can help prevent any misunderstandings and address conflicts along the way.
