Ohio Probate Law: What Assets Must Go Through Probate Upon Death?
January 12th, 2012
Ohio probate law requires any property owned by the decedent alone at the time of death to go through probate if it is not jointly owned with survivorship rights, titled to a trust, or have a beneficiary designated. Even if you have a will, property titled to you will go through probate and the estate will be distributed to your heirs according to either your will or state law. Only assets that have a designated beneficiary, are owned jointly with rights of survivorship, or are titled to a trust will avoid probate, according to the Dayton, Ohio probate attorneys at Gudorf Law Group.
Assets that typically go through probate include:
- Real estate titled only to the deceased or jointly titled as tenants in common without rights of survivorship
- Personal possessions, such as cars and jewelry, not protected by a trust
- Business interests not protected by a trust
- Investments and other financial instruments for which no beneficiary is designated or the beneficiary is deceased or is the deceased's estate
- Insurance policies for which no beneficiary is designated or the beneficiary is the deceased or is the deceased's estate