In Ohio, if a person dies without a valid will and the deceased had probate property (see http://www.perlalaw.com/blog/what-is-probate-property-and-why-do-i-need-it-for-my-will-to-operate/), the Probate Court in the county where the person died will need to appoint an Administrator.
When determining who should be appointed Administrator of an estate, the Court will go through candidates in order of priority. First, the surviving spouse, if a resident of the state of Ohio. Second, the next of kin of the deceased, if a resident of the state of Ohio. If there is no spouse or next of … Read the rest
There are four major downsides to not having a valid will upon death.
Without a valid will setting forth who will inherit your estate, ie. your house, money, prized coin collection, etc. the property will be distributed according to Ohio law and not your wishes. Remember, if you want to be the one to decide who inherits your estate, you must have a valid will. So what makes a valid will in Ohio? In a nutshell, it must be in writing, signed at the end by you, and signed by two competent witnesses who saw you sign your will. Although it may be simple enough to execute a valid will, the content… Read the rest
In Ohio we have very particular laws regarding creditor’s claims on an estate. A creditor must present a proper claim to the executor or administrator of an estate within six months of the date of death. If a claim is not presented within that time period, it is barred- that is it never has to be paid. Keep in mind that some claims need not be presented, like Medicaid claims and secured debts.
Moreover, if a creditor’s claim is properly rejected and the creditor does not file an action on the claim within two months if the claim is then due, then the creditor’s claim is forever barred- that is it never… Read the rest