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RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 40150
Experience:  Texas lawyer for 30 years in Estate law
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My mother just died in Ohio ( my father died in 1985) and I

Customer Question

My mother just died in Ohio ( my father died in 1985) and I cannot locate a signed copy of her will ( I checked with the lawyer who wrote it up and the probate office). I have one brother and a niece ( my other brother , her father, preceded both my parents in death) in which all three of us should share equally according to the Ohio law I read for her property. My question is how do my surviving brother and I transfer our share of my parents residence to my niece? Do we each just sign a quit claim deed to her?
Also, my mother was the owner of insurance policies for my niece and four of my niece's five children. I wanted to change the ownership of the policies to my niece since I was named the executor of my mother's estate, in the will which a signed copy cannot be located. I don't want to have to go through probate, so what happens to ownership of the policies if I/we do nothing?
Thanks,
Debra
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.

Hi and welcome to JA. I am Ray and will be the expert helping you today.

Here life insurance passes outside of probate if there are named beneficiaries.If there are no beneficiaries the insurance passes to the estate and heirs under the law.

You will have to open probate and have administrator appointed.The administrator can deed property here or sell if need be all with the courts approval.You will be supervised here throughout probate by the court if there is no will.

The property passes under the laws of intestacy and you would have to have court name legal heirs and their shares and it goes directly to them once the bills , taxes, etc are paid.

You may be looking at a double probate for father and mother.Only through probate can assets be collected and transferred to the legal heirs.
There is no way around probate here and being appointed administrator of the estate Again the court supervises the entire process.

You can locate a lawyer here.

http://www.lawyers.com/wills-and-probate/ohio/find-law-firms-by-city/

Expect the process to take about a year start to finish.The legal fees and administrator fees are paid from the estate.

I am so sorry for your loss of your parents.

Expert:  RayAnswers replied 1 year ago.

You are paid by law for serving as administrator..

113.35 Commissions.

(A) Executors and administrators shall be allowed fees upon the amount of all the personal property, including the income from the personal property, that is received and accounted for by them and upon the proceeds of real property that is sold, as follows:

(1) For the first one hundred thousand dollars, at the rate of four per cent;

(2) All above one hundred thousand dollars and not exceeding four hundred thousand dollars, at the rate of three per cent;

(3) All above four hundred thousand dollars, at the rate of two per cent.

(B) Executors and administrators shall be allowed a fee of one per cent on the value of real property that is not sold. Executors and administrators also shall be allowed a fee of one per cent on the value of all property that is not subject to administration and that would have been includable for purposes of computing the Ohio estate tax, except joint and survivorship property, had the decedent died on December 31, 2012, so that section 5731.02 of the Revised Code applied to the estate.

(C) The basis of valuation for the allowance of the fees on real property sold shall be the gross proceeds of sale, and for all other property the fair market value of the other property as of the date of death of the decedent. The fees allowed to executors and administrators in this section shall be received in full compensation for all their ordinary services.

(D) If the probate court finds, after a hearing, that an executor or administrator, in any respect, has not faithfully discharged the duties as executor or administrator, the court may deny the executor or administrator any compensation whatsoever or may allow the executor or administrator the reduced compensation that the court thinks proper.

Expert:  RayAnswers replied 1 year ago.

If you can leave a positive rating it is always sincerely ***** ***** again.

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