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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At the same time as the will is admitted to Probate Court, the executor who is listed in the will is appointed as the executor. Many lawyers have abandoned the gender specific terms of executor applying to a male and…
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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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A last will and testament is a legal document that identifies where your assets go once you have passed away. There are three main questions answered in a will. First, what happens to your assets when you die? Second, who…
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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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