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Estate Administration

We understand and appreciate the difficulty of losing a loved one. "Estate Settlement" is the legal process of handling decedent’s affairs. The settlement process differs depending on whether a will or trust was utilized to plan the estate, as well as the size and nature of the assets in the estate.

In Ohio, assets will transfer one of four ways when the owner dies: by beneficiary designation; assets owned jointly with right of survivorship; assets titled in a trust; and assets owned solely in decedent’s name. Assets owned individually must be administered by the probate court prior to being distributed pursuant to the terms of decedent’s Last Will, or according to state statute if there is no will.

Estate settlement, whether publically administered through the probate court or privately administered by the use of a trust agreement, includes valuing assets, determining how they are titled, gathering and paying estate debts (including funeral bills, valid debts, administration costs, and taxes), and transferring net estate assets to designated beneficiaries pursuant to the terms of decedent’s will or trust.

Ohio State Bar Association Leave a Legacy Akron Bar Association
Our Location: 110 W. Streetsboro St.   •   3A • Hudson, Ohio 44236   •   330.650.5454   •   fax: 330.655.7617   •   E-mail: jsharp@ohioplace.com
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