All estates go through a certain legal process upon the owner’s death. This is known as probate. The management of these estates, however, differs depending on whether there’s a will or not. Both situations have unique considerations and may be subject to different...
Dayton Bankruptcy Law Blog
Must executors disclose all estate information to beneficiaries?
As an executor of an estate, you have a legal and fiduciary duty to act in the best interests of the estate’s beneficiaries. This typically includes a responsibility to keep them informed about the estate and its administration. But what if a beneficiary asks you...
How to choose someone to become my estate’s executor
Probate can be a complex process based on the estate's size and details, affecting how much work the executor must do. Since they can have extensive tasks necessary to administer the deceased's estate, choosing someone suitable for the role may be challenging. Some...
Can an heir be a personal representative of an estate?
The question of whether an heir can serve as a personal representative of an estate, given their personal interest, is a common consideration during probate. Will their interest in the assets benefit the estate or will it merely cause issues and conflicts? Relation is...
When can avoiding probate help you save money?
Some may consider using various estate planning tools to save money by avoiding probate, but this mindset is often a misconception. Establishing trusts and other options can become more costly than probate expenses. Still, saving money can be possible when avoiding...
Understanding the basics of digital assets in probate
With today’s technology, our properties extend beyond the physical and can now be in the form of digital assets. In the context of estates, digital assets include any online accounts or files stored on digital devices, such as online banking accounts, cryptocurrency...
The role of executor-beneficiary cooperation in probate’s success
In probate, it is important for the executor and the beneficiaries to work well together. This teamwork can make the entire process smoother, avoid disputes and help ensure they administer the estate according to the deceased’s wishes. It avoids conflicts and delays....
What are the benefits of a pour-over will?
Wills can include various conditions to serve different functions. It can have specific or general directions on what happens to the testator's estate after they pass on. Sometimes, this document can work in tandem with other estate planning tools. For example, a...
Be mindful of these common family disputes in probate
When our deceased loved ones’ estates go through probate, we aim to make the process as smooth as possible to ensure a proper distribution of their assets and avoid delays. However, roadblocks can arise during the process, including disagreements among family members....
Why an estate’s total value matters in probate
Probate is a complex process requiring an extensive preparation, including determining the total value of the assets in an estate. This value determination is essential in directing the flow of an estate’s administration. Below are some of the probate aspects directly...