Ohio law sets the fee for the executor/administrator. The executor’s fee is a percentage of the value of the assets of the estate. There is a fee schedule upon which the fee is determined that ranges from 4% to 2%…
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The executor/administrator can be removed by the Court for failure to perform such duties. They can also be subject to possible civil and criminal penalties for improper conversion of estate property. The executor/administrator is also responsible for filing estate tax…
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An executor or administrator of an estate is the person who is responsible for the administration of the estate. They must identify and evaluate the assets. They must identify and pay all bills. They are responsible for selling the assets…
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The Probate Court would select the administrator of your estate and guardian’s for any of your minor children. Somebody from your family or otherwise would apply to be appointed the administrator of your estate. The Probate Court would have a…
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Someone files an application to open an estate without a will and to be appointed as the administrator of the estate. This is typically a spouse, child, or other family member. In some cases it is an attorney applying to…
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If there are assets in the name of the decedent alone, probate is necessary to re-title those assets. Any assets payable to an estate must go through probate. For example, you name your estate as the beneficiary of a life…
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The steps of going through probate include the following: File the will with the probate court Send notice of the filing of the will to all persons listed in the will and those who would inherit if there was no…
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Probate Court supervises the process of administering someone’s estate once they have died. If the person died with a will, the Court accepts the will and appoints the executor. If there is no will, the Court appoints an administrator. The…
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If the decedent is the only registered owner of the safety deposit box, then you will need to obtain a court order from the Probate Court to prove you are the executor or administrator of the estate in order to…
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No, when a person dies, the power of attorney immediately terminates. The attorney-in-fact named in the power of attorney document has no legal authority to transact business on behalf of the decedent. After someone passes away, the authority to act…
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