What is Self-Dealing By an Executor?
When a person dies, their estate is managed by an estate representative. This individual handles the deceased person’s final affairs and has a legal duty to act in the best interests of the estate and its beneficiaries.
An estate representative who misuses or abuses their position for self-gain engages in “self-dealing.” Self-dealing is a serious breach of the estate executor’s fiduciary duty that undermines the integrity of the probate process and is a betrayal of trust.
Estate Executor Self-Dealing Explained
The estate representative (an estate executor if the deceased person had a Will, or an estate administrator if the deceased person died without a Will) has a fiduciary duty to act in the best interests of the estate and its beneficiaries. Self-dealing occurs when an estate representative uses their position of authority for personal gain rather than to benefit the estate.
What Are Examples of Self-Dealing by an Estate Executor?
While an estate representative has some discretion in managing estate assets, as a fiduciary, they are legally obligated to act in the best interest of the estate. Examples of actions that might cons… Read More
What If the Original Will Cannot Be Found?
We increasingly live in a world of e-signatures, digital contracts, and records stored in the cloud. Buying a home, opening a brokerage account, or signing a lease can all be done electronically. This shift has been so seamless and convenient that many people naturally assume the same rules apply to legal documents. While that may be true in some cases, it does not apply to a Last Will and Testament.
A Will is one of the last paper-dependent legal documents. You can scan it, email it, and save a copy to the cloud, but when the time comes to open an estate in probate court, only the original document, signed by the testator and two witnesses, will do.
The Probate Court Only Accepts Original Documents
When it comes time to probate a Will, the court will only accept the signed original, signed by two witnesses. If you try to submit a copy, the court will likely reject the Will and proceed as if no Will ever existed.
In Cases of a Lost Will, Courts Expect an Exhaustive Search
When a loved one passes away, one of the most important items you will need to address is locating the original Will. If the original Will cannot be located, the court… Read More
Probate vs. Non-Probate Assets in Ohio
Transferring property after someone dies can be a complicated and time-consuming process. Many people mistakenly believe that a Will is sufficient to transfer their assets. However, this is not always the most effective strategy. Understanding which assets are subject to probate court jurisdiction and which ones are exempt can help you prepare your estate plan, avoid probate, minimize tax liability, and simplify the asset transfer process for your loved ones.
What Is Probate?
Probate is the legal procedure of transferring assets from a deceased person to the individuals who are legally entitled to receive their assets. In Ohio, this process is overseen by the probate court. The probate court validates the deceased person’s Will (if they had one), appoints an estate executor or administrator, and supervises the payment of debts and taxes and the distribution of the deceased person’s assets. However, not all assets are subject to probate court jurisdiction.
What Assets Are Subject to Probate Court Jurisdiction?
In Ohio, the probate court has ju… Read More
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The tasks involved in probating an estate can be daunting, especially for those who have never been through it before. We are committed to relieving anxiety around the probate process and to helping Ohioans through an often-challenging time in their lives.
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