How does small estate probate work in Ohio?
Ohio Small Estate Probate. Ohio provides for a streamlined probate process known as “small estate probate.”. An estate qualifies for small estate probate if the following conditions are met: The value of the probate estate is $100,000 or less and the entire estate goes to the decedent’s surviving spouse.
Is it reasonable for brother to be executor of estate?
However, no one wanted it. You don’t want to be in the same boat (or condo, in this case). Your brother has managed your mother’s estate for two years and — given the time and stress involved in managing a person’s estate — particularly when family is involved, $20,000 is probably not unreasonable. It’s a thankless job, except for the remuneration.
Is there a way to bypass probate in Ohio?
Many Ohioans do try to bypass probate altogether using a combination of these devices, particularly living trusts, to contain assets. Even if there are probate assets in an estate, it is possible that the estate will qualify for small estate probate, or simplified probate.
What are the responsibilities of an executor in Ohio?
The Ohio Bar Association provides a summary of some of the different responsibilities that an executor must fulfill during the probate process. Executors have to: Take care of the property which the deceased person owned and which was a part of the estate.
What are the requirements to be executor of an Ohio estate?
1% on the value of all property that is not subject to administration and that would have been includable for purposes of computing the Ohio estate tax, except joint and survivorship property. If you have been named in a will to serve as the executor of an Ohio estate, the process of actually becoming the executor is not automatic.
What was the executor fee for my brother?
We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee.
How to sell real estate in an Ohio probate case?
If the deceased owned real estate in his or her own name, it is very helpful for an executor to have the guidance of an experienced Ohio probate attorney to walk them through the process, obtaining and filing any necessary consents and getting any required court approval for the sale.
What to do when your brother is executor of mother’s estate?
Signing release forms at the end of this process is also pretty standard, but your brother needs to be transparent with all the transactions related to your mother’s estate. Have your own estate attorney look over the document, if you must.