In numerous posts, we have highlighted different estate planning documents and other mechanisms to create a plan for when you pass. However, an equally important question is what happens when someone passes without creating an estate plan, or in this post, without a will. When this happens, and dependent upon whether you have probate assets (assets you own individually at the time of your death), an intestate estate may need to be opened.
An intestate estate is administered in probate court in accordance with the laws of the State of Ohio and your assets are distributed in accordance with Ohio Revised Code 2105.06 (Statute of Descent and Distribution). Please note that instead of you deciding who gets what, the State of Ohio has already decided this for you. Depending upon your wishes, this may lead to unintended consequences.
For detailed information on what happens if you pass without a will, please visit this link to this Ohio State Bar Association’s Law Facts article.
This information is intended to provide broad, general information about the law and is not intended to be legal advice. Before applying this information to a specific legal problem, readers are urged to seek advice from a licensed attorney. For further information, please contact Jesse Bowman at the law office of Alexander, Wagner & Kinman (513) 228-1100 or Jesse@AWKLegal.com.
Attorneys Jesse Bowman; Max Kinman; Chris Alexander: David Wagner