|Wednesday, 23 March 2011 00:00|
Ohio probate court costs can be minimal when an estate is contained in trusts. Probate court becomes involved whenever a person dies and they have left a will that needs to be executed or they have left an estate or some part of their estate that is not covered by a will or trust of some kind. When a will and/or estate goes into probate, things can get very complicated and expensive. For this reason, many people turn to their Ohio probate attorney for solutions that keep their estate out of probate.
A common tool for keeping an estate out of probate is the revocable trust, or revocable living trust. Any property, securities, cash or other estate items that are transferred to a trust do not have to go through probate. They are distributed by the trustee named by the trust.
Ohio Probate Court and Using Power of Attorney and a Pour-over Will to Avoid Probate Costs
You can further minimize the amount of your estate that’s handled by Ohio probate court by granting a durable power of attorney to someone you trust. A durable power of attorney gives your chosen representative the authority to make legal and financial decisions for you if you become mentally incapacitated. You can leave instructions for that person to transfer remaining estate items to your trust or gift them to designated relatives prior to your death.
You should also have a pour-over will, which is a will designed to handle any estate not funded into your trust. This prevents the court from deciding for you who your estate will go to. Your Dayton, OH estate planning attorney can assist you in preparing the documents needed to make sure your estate goes where you want it to.