When someone passes away and their estate needs to be administered, a common question that arises is whether an attorney can be hired to serve as the executor or administrator. The short answer is yes, but there are some important factors to consider before making this decision. In this article, we will explore the pros and cons of hiring an attorney as the executor or administrator of an estate. Pros of Hiring an Attorney as the Executor or Administrator Legal Expertise: Attorneys have a deep understanding of probate law and can navigate the legal complexities of the estate administration pr ..read more

If your loved one has passed away in Ohio with assets, one of your first tasks will be to file an application to open the estate in probate court. This process can seem daunting at first, but with a little guidance, it can be straightforward and relatively painless. In this article, we will outline the steps you need to take to file an application to open an estate in an Ohio probate court. First, you’ll need to gather the following: The original death certificate The original last will and testament, if any A rough list of the decedent’s assets with estimates of their values Next, identify ..read more

Typically, the estate of the deceased person pays the probate attorney fees. These fees are considered a cost of settling the estate and are typically paid out of the estate’s assets. However, the specifics of who pays probate attorney fees can vary depending on the circumstances. If there is not enough liquid cash in the estate to pay the attorney fee, the executor of the estate or a beneficiary might have to advance cash to cover the attorney fee to avoid having to sell assets to cover the fees and expenses. If the estate has enough cash to cover attorney fees and administration expenses, th ..read more

When someone passes away and leaves behind an estate, it can be unclear what steps you should take to settle the estate and distribute assets to the beneficiaries. One question that often arises is whether you need a probate lawyer. In this article, we will explore the benefits of hiring a probate lawyer and help you determine if you need one. Complex Estate Matters: If the estate is large or complicated, it may be necessary to hire a probate lawyer. An experienced probate lawyer can help navigate the legal complexities of settling the estate and ensure that the process is done correctly. Pro ..read more

When someone passes away and leaves behind an estate, the executor is responsible for settling the estate and distributing assets to the beneficiaries. Sometimes a creditor may serve the executor with a claim against the estate, which can complicate the process and put the executor in a difficult position. If you are an executor who has received a claim against the estate, here are some steps you can take: Review the Claim: The first step is to carefully review the claim to determine if it is valid. Make sure to review all the documents and evidence provided by the claimant to support the cla ..read more

Ancillary administration is a type of probate process that is used when a person who owned property in one state dies and leaves property in another state. Ancillary administration is necessary to probate the out-of-state property, which allows the personal representative (executor) of the estate to distribute the property according to the terms of the will or state law. The process for ancillary administration in Ohio is similar to the probate process for in-state property, with a few key differences. First, an estate proceeding must be filed in the state where the decedent was resident at th ..read more

f you are considering calling a lawyer for a probate case in Ohio, it is important to be prepared and to have a clear understanding of your legal needs. Here are some steps you can take before calling a lawyer to ensure that you get the most out of your consultation: Gather all relevant documents: Before you call a lawyer, it is a good idea to gather all of the relevant documents related to the probate case. This may include the deceased person’s will, any trust documents, financial records, and property deeds. Having these documents on hand will help the lawyer understand the specifics of yo ..read more

I’ve fielded many questions from real estate investors about how a foreclosure works in Ohio. The most common question goes something like this: “do I get clear title if I buy this property,” but what they’re really asking about is the risk. The only real answer to this question is, with any other area of law, “it depends.” Everyone’s standard expectation at a foreclosure sale is that the high bidder will get the property free-and-clear. Since this is the way the vast majority of foreclosures work, it’s certainly not an unreasonable expectation. However: there is no law that requires ..read more

An investor, maybe you, wants to lend some money to a real estate investor. What kind of documents are required for this transaction? The answer depends on the complexity of the transaction, but lending professionals tend to use similar documents across the board for a standard transaction. We will start with the most important documents and go from there. The promissory note. This document is the most important to a loan transaction — it is the document that represents the debt. It is a unilateral written promise by the borrower to pay the lender a certain amount of money over time. A promiss ..read more

Private lending, or “hard money” lending, is a great way to deploy funds in a self-directed IRA. With interest rates approaching 15-20% in some cases and fixed payments coming in every month backed by real estate, it’s a passive investment that’s hard to beat. In this article, I’ve summarized a few key due diligence items that should be mandatory to any real estate lending deal. Get a credit report. Get as much personal information about the borrower as possible. A credit report is a great starting point for this, and will tell you a lot about their ability to repay and credit history. Additio ..read more