Ohio Probate Administration Lawyer
Summary release from Administration.
This procedure generally applies where the assets of the estate are less than $2,000 or the amount of the funeral and burial expenses.
Release of administration
This procedure generally applies where the assets of the estate are $35,000 or less and the Probate Court finds that creditors will not be prejudiced; or if the assets of the estate are valued at $100,000 or less and either: (a) the decedent's Will leaves all of the assets to the surviving spouse; or (b) there is no Will and the surviving spouse is entitled to receive all of the assets of the estate.
Full administration
This procedure may be followed whether there is a Will or not. The person in charge (fiduciary/administrator/executor) has numerous obligations and procedures which must be followed.
Examples are as follows:
- Admit Will to Probate Court
- Have executor/administrator appointed
- Obtain and file bond, if necessary
- Obtain taxpayer identification number (TIN)
- Open an Estate bank account
- File inventory within three months of appointment of fiduciary
- Collect assets & appoint appraisers, if necessary
- Convert the assets into money, as needed
- Invest the estate's assets
- Pay creditors and succession taxes
- File State and Federal Estate tax returns, if necessary
- Distribute to legatees or distributes
- File accounts, including final account
- File income tax return, if necessary
- Settle the estate.
Contact Our Northeast Probate & Estate Attorneys
Our attorneys can be reached by e-mail or by telephone at 440-942-6267. Speak to one of our attorneys before you sign a settlement agreement.
Free initial consultation in person or over the phone.
Sternberg & Zeid Co., LPA
7547 Mentor Ave, Suite 301
Mentor, OH 44060
Telephone: 440-942-6267
Fax: 440-942-6504
E-mail
Sternberg & Zeid Co., LPA proudly serves clients throughout Northeast Ohio including Mentor, Painesville, Geneva, Ashtabula, Cleveland, Chardon, Solon, Chesterland, Beachwood, Cleveland Heights, Willoughby, Lakewood, Mayfields Heights, Eastlake, Madison, Concord, Chagrin Falls, Kirtland, Lake County, Geauga County, Cuyahoga County and Ashtabula County.
