Building Better Lives By Planning For A Secure Future

Most executors have never probated a will; many are surprised to learn the decedents will named them as the responsible party. When there is no will, the least-reluctant close relative usually acts as personal representative of the estate, after getting court approval. In most cases, the party responsible for settling the estate has no prior experience with tasks that include:

• Filing the will with the Ohio probate court
• Getting court approval as estate administrator and posting bond
• Developing the best strategy for fairly and expeditiously settling the estate
• Finding and assembling assets
• Paying creditors and claimants
• Collecting amounts owed the estate
• Closing and opening bank accounts
• Transferring assets from the deceased to the estate
• Paying current and delinquent taxes as well as estate taxes
• Valuing, managing, preserving, and liquidating the estate
• Hiring experts, when appropriate