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***For legal advice, be sure to contact a lawyer.***
This video is not intended to give legal advice.

When is Probate Required in the State of Ohio?
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Probate is required:
-To administer certain property of a person who has died
-To verify the will, if there is one
-To authorize the executor or personal representative of the estate
-To pay creditors, taxes and expenses prior to distribution of remaining assets
-For estates valued at more than $5,000 or the cost of funeral expenses
-If there is not a surviving spouse entitled to the estate by law

What is Non-Probate Property?
-Life Insurance benefits payable to a named beneficiary
-Retirement benefits payable to a named beneficiary
-Any real estate property jointly owned by the surviving spouse or other owner
-Any real estate property subject to an Ohio “Transfer-On-Death” deed
-Any property held in a living trust
-Any assets in a joint bank account

For legal advice, be sure to contact a lawyer. This video is not intended to give legal advice.

Interested in learning more about the buying or selling process? Call Jennifer Deal at 440-732-2232 or email jenniferdeal@kw.com