When someone dies, their belongings and property form their estate. If you are the executor of an estate, you are responsible for managing these assets and distributing them to the heirs. However, some situations may require you to liquidate or sell some of the estate...
Ohio’s Revised Code requires the executor named in a will to notify the named heirs and creditors when the will’s creator dies. As noted on the Ohio.gov website, executors must send written notices within six months of the death. Unpaid creditors may file claims with...
Closing an estate takes time and requires patience and attention to detail. Agreeing to oversee this process is not something you should do unless you understand the scope of your responsibilities. Knowing what to consider about this role can help you make an informed...
As an estate executor, there are many steps from a person dying to you completing your task. More than that, there are many ways to handle each step. One major step is working through the estate property to determine its value. While many items may transfer from the...
Creating a will determines the distribution of your assets after your death. Many people make their will early on years and forget to update it after a major life event. Failing to update a will could jeopardize how you want your assets divided. The chaos and...
How does the probate process begin? When an individual dies, the probate process may be started by any interested person (including creditors), although it is typically the person designated as Executor in the Will, a spouse or close relative of the decedent. What is...
When someone you know names you the executor over his or her Ohio estate, you should expect to have to take on a number of important responsibilities on that individual’s behalf. Serving as an executor requires you to take certain steps, and failing to uphold your...
As an estate executor, you will have the responsibility of dispersing an estate to its heirs. Sometimes the fate of property, like a home, is not clear. The will may not name a beneficiary to receive the residence. It is possible that you will end up selling the...
One advantage of having an estate plan is the ability to provide clarity for your surviving family members. However, sometimes disputes might still happen despite your best efforts to prevent discord. Disagreements over your estate may jeopardize its value, prolong...
Soon after a family member or a close friend dies, you may begin the probate process. If you are an executor, then you have a duty to deal with this person's estate and assets. These tasks leave you feeling overwhelmed because of the reaction of the deceased's family...
