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Most people have to go through the probate process at some point in their lifetime because they have been named as the beneficiary in a loved one’s will. Understanding this process can also be beneficial when it comes to estate planning. Below, the legal team at Lane, Felix & Raisbeck Co. L.P.A. in Cincinnati, OH, answers some of the most frequently asked questions on the subject, so you know what to expect if a family member ever names you as the administrator of his or her estate.

Probate FAQs

Does All Property Have to Pass Through Probate?

In general, only assets that the deceased solely owned in his or her name must go through probate. Assets that do not have to go through the process include those with a beneficiary designation, like retirement accounts and bank accounts that are payable-on-death, as well as those held jointly by a married couple and those owned in survivorship tenancy.

What Is Simplified Probate?probate

If the surviving spouse inherits all of the deceased’s property and the total value of the estate is less than $100,000, the estate can pass through a simplified probate. This process is a shorter and less costly version of traditional probate. Estates that are valued at less than $35,000 can also go through simplified proceedings, which are typically completed within two to four months.

How Much Does Probate Cost?

The total cost of probate varies from case to case. In general, you can expect to spend at least a few hundred dollars on court costs. Additional costs include appraisal fees, attorney fees, and administrator fees. The longer the proceedings take, the more the entire process will cost because of mounting legal fees and court costs.

Are There Estate Planning Strategies for Avoiding Probate?

If you do not want your family to have to deal with lengthy legal proceedings after you pass, there are various ways to distribute assets without a will. For example, you can place them in a trust. Assets that are placed in a trust do not have to go through probate after you die.

If you have additional questions for a probate attorney, turn to Lane, Felix & Raisbeck Co. L.P.A. in Cincinnati, OH. Their team will provide you with quality legal counsel whether you recently lost a loved one or you are in the process of drafting your own estate planning documents. Visit the firm online to learn more about their broad range of practice areas, including family law, criminal law, and personal injury law. To schedule an initial consultation with a probate attorney regarding your family’s situation, call (513) 922-7700. 

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