Lorain Probate Lawyer

Losing a loved one is a stressful and emotional process, even when death is expected. One thing that can add to the complexity of losing a loved one is having to navigate the probate process. At the Kryszak Law Firm, Co., LPA, our Lorain probate lawyer can provide legal representation and guidance throughout the probate process. To learn more about probate in Lorain and throughout Ohio, call our Lorain probate lawyer directly today.

What is Probate?

Probate is the legal process of submitting and proving a will to the probate court, inventorying an estate, paying creditors, and then dividing remaining assets amongst beneficiaries. The court-supervised legal process is almost always required when someone dies, although many common assets do not go through probate.

What Assets are Exempt From Probate?

While many assets do pass through the probate process, there are many that are exempt. For example, types of property that do not have to go through the probate process include:

• Any assets that are held in a trust—indeed, this is one of the greatest advantages to forming a trust,
• Assets that are held in joint tenancy—for example, a home that is owned by two spouses at the time that one of the spouses dies,
• Assets that have a payable-on-death beneficiary designation, such as payable-on-death bank accounts or retirement amounts; this is also true for life insurance policies.

Most other assets will need to go through the probate process.

What if the Estate is Small?

Many people who are responsible for managing small estates make the mistake of thinking that if an estate does not have a lot of assets, it does not have to go through probate. This is not usually the case, although a simplified probate process is available for small estates. The simplified probate process is possible for estates where the total value of the estate is $35,000 or less, or when the total value of the estate is $100,000 or less and the surviving spouse inherits all probate property. 

If the total estate is valued at less than $5,000, no probate is necessary. 

Services Provided by Our Lorain Probate Lawyer

The administrator of the estate, who is named in the decedent’s will, is responsible for overseeing the probate process. This can be an overwhelming task for someone who is not trained in probate law. Our Lorain probate lawyer can help by:

• Explaining the exact process for your situation
• Identifying and inventorying all assets in the estate
• Filing all required probate documents with the court
• Managing repayment of any debts or outstanding taxes
• Overseeing the final transfer of assets to appropriate parties

Call Our Lorain Probate Lawyer Today

If you have recently lost a loved one and are responsible for probating their estate, call our Lorain probate lawyers for the legal support you can trust. We have years of experience and the reputation you can count on. Reach us by phone or online today to get started.