Filing for a Summary Release from Administration
What is a summary release in Columbus, OH, and how does it affect probate? These are some of the questions that you may have in mind when dealing with probate. When a person passes away, transferring assets can be expensive and time-consuming if the estate must go through the probate court process. Luckily, summary release from the administration allows estates to avoid probate altogether, or at least move through the probate process much faster.
At Sheppard Law Offices, we can help you understand how a summary release works in estate planning. We are here to help you protect your assets and provide for your loved ones. Contact us today and schedule an initial consultation with our credible Columbus estate planning lawyers to learn more about your legal options.
What is a Summary Release?
Summary release from administration allows small estates to skip and avoid the probate court administration process. It is even faster and less expensive than a standard relief from the administration. Our knowledgeable Columbus estate planning attorney can help you understand how a summary release from administration works.
Probate is not necessary if the estate is worth less than $5,000 or the amount of the funeral expenses, whichever is less. If the estate is within that limit, the executor may distribute the assets to the entitled beneficiaries. If there’s no will, the state intestate succession law will determine what types of assets are transferable to the heirs.
What are the Eligibility Requirements for Filing a Summary Release?
Several conditions can warrant a summary release from the administration. Our top-ranking Columbus probate lawyer can advise you as to whether your estate qualifies and answer any other legal questions that you have. There are two conditions that you can apply for summary release from the administration:
You are the surviving spouse of the deceased person
Generally, anyone (except the surviving spouse) who has paid or is obligated to pay those expenses may ask the court for a summary release from the administration. Alternatively, the surviving spouse may apply for summary release from administration if:
- all of the deceased spouse’s assets are worth no more than $45,000
- the surviving spouse inherits everything and is entitled by law to a family support allowance
You paid for the deceased person’s funeral
To be eligible for a summary release, you must pay the funeral and burial expenses. The value of the estate assets must not exceed the lesser of either $5,000 or the amount of the decedent’s funeral and burial expenses.
When is a Summary Release from Administration Necessary?
Probate laws vary from state to state, meaning the requirements for summary release from the administration are specific to the state in which the estate is located. However, there are common situations in which summary administration may be your best option. A qualified Columbus estate planning lawyer can help you determine whether filing for a summary administration can be beneficial in your particular situation.
The summary release from the administration is an abbreviated version of the release from the administration. The release process can be much quicker than a full estate administration, but the timeliest part of the process is ensuring all creditors have come forward and their information is known.
It is appropriate in situations where there is a surviving spouse and the gross estate is $100,000 or less. Furthermore, it is also recommended if the fair market value of the probate assets is $35,000 or less and there is no surviving spouse. If there is a surviving spouse and they are entitled to 100% of the family allowance provided by statute, the gross probate estate does not exceed $45,000, and the spouse has paid or is obligated in writing to pay for funeral expenses, the estate may qualify for a summary release from the administration.
Why Do I Need an Estate Planning Lawyer in Ohio?
Estate planning can help individuals and families protect their assets, provide for their loved ones, and ensure their wishes are carried out. If the estate goes through a probate court, the distribution of assets can cost a lot of money and can take a long time. One key component of estate planning is the summary release, which can help streamline the probate process and reduce costs.
At Sheppard Law Offices, our trusted Columbus estate planning attorneys are committed to:
- Navigating the state laws and providing legal advice if the decedent estate you are managing qualifies for a summary release of administration.
- Helping you create a comprehensive estate plan that best suits your needs. providing valuable legal assistance in writing wills, setting up trusts, creating powers of attorney, and preparing other estate planning documents that reflect your wishes and protect your assets.
- Assisting clients with probate and estate administration, helping families resolve any conflict, and ensuring that your interests are protected.
- Guiding you on how to distribute assets in a way that is fair and equitable while also avoiding potential conflicts and disputes.
- Helping you minimize estate taxes and other tax liabilities through tax planning strategies such as gifting, charitable donations, and trust planning.
The probate process can be confusing and overwhelming for those who are not familiar with Ohio law and the probate system. Contact us today and schedule a consultation with our skilled Ohio estate planning attorneys who can help you through this process as efficiently and smoothly as possible.
Call Our Experienced Columbus Estate Planning Attorney Now!
When a loved one passes away, dealing with additional legal concerns while grieving is often unavoidable. However, going through a shorter and more simplified probate process can certainly help to lighten your load and give you more time to honor your loved one.
If you’re struggling with probate and estate administration, our seasoned Columbus estate planning attorneys at Sheppard Law Offices can guide you through even the toughest legal situations. We can help you ensure that your wishes are carried out, your beneficiaries receive their inheritance on time, and the probate process is streamlined and cost-effective.
Our estate planning law firm will work tirelessly to ensure the best possible outcome for your situation. We are also committed to helping local clients resolve a wide range of legal problems involving bankruptcy, taxation, probate, and family law.
Our three offices are located in Columbus, Mt Vernon, and Newark. Contact us today to schedule a free consultation and get the help you need in handling probate and estate administration.
