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So, what do they mean ?it belongs to me?? Remember when someone passes there will be Probate and Non-Probate assets. A non-Probate asset is any asset that can transfer to a loved one without the Probate Court's assistance. So, a joint-bank account, life insurance policy, and IRA are all Non-Probate.
Documents you need include: The original will, if there is one. A certified copy of the death certificate. The funeral bill or the paid receipt. Auto title, bank account and stock certificate information, if applicable. The market or book value of real property, motor vehicles, and other recreational vehicles.
Non-Probate Assets Retirement benefits such as 401(k)s, IRAs, TSAs. Pay-On-Death (POD) Accounts. Transfer-On-Death (TOD) Assets. Life Insurance. Pension plans. Property held in a trust. Property or bank accounts held in joint tenancy.
In Ohio, creditors have 6 months from the date of death to make a claim (see Ohio Revised Code § 2117.06). If the executor has directly notified the creditor, then the creditor has 30 days from date of notification, or 6 months from date of death, whichever is earlier (see Ohio Revised Code § 2117.07).
Non-Probate Property in Ohio Real estate held in joint or survivorship form. Assets and property with a transfer-on-death designation. Insurance proceeds with a named beneficiary. Payable-on-death bank accounts. Assets held in trust.
Ohio probate law requires any property owned by the decedent alone at the time of death to go through probate if it is not jointly owned with survivorship rights, titled to a trust, or have a beneficiary designated.
After the debt has been paid, the executor or administrator of the estate will ask the probate court for permission to close probate and allow him or her to distribute the remaining assets to the estate's beneficiaries.
No probate at all is necessary if the estate is worth less than $5,000 or the amount of the funeral expenses, whichever is less. In that case, anyone (except the surviving spouse) who has paid or is obligated to pay those expenses may ask the court for a summary release from administration.