Probate, simply put, is the process where an individuals debts are paid, and remaining assets are collected, inventoried, and distributed according to the wishes expressed in their will. If there is no will, the remaining assets will be distributed according to the laws of the state of Ohio.
The probate process can be rather long and cumbersome, typically taking between 6-9 months or longer. Oftentimes, the process results in thousands of dollars in legal fees and court fees. The typical probate is approximately 3-4% of the estate. With a large estate, these fees can add up very quickly.
Reese Law Firm helps people avoid probate as much as possible through the use of transfer-on-death and pay-on-death instruments. We are also able to strategically use trusts to limit the amount of our clients that have to go through probate and save them time, money, and irritation by avoiding the probate process.
Making sure the proper estate planning instruments are in place in order to help you or your loved ones avoid the probate process is critical to avoid unnecessary prolonging and potential financial discomfort. If you would like to sit down for a free strategy session to see the best individual route to avoid probate, give us a call at (614) 321-2422, or send us a message by visiting our contact page.
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