Detailed Answer
If you seek a streamlined way to transfer personal assets after a loved one’s death and the estate’s net value falls below the statutory threshold, Ohio’s small estate affidavit offers a simplified route. This process avoids full probate and lets qualified heirs receive assets directly.
1. Confirm Eligibility
Ohio Revised Code Section 2117.06 permits a small estate affidavit if:
- For general heirs, the total net value of personal property cannot exceed $35,000.
- A surviving spouse may use the affidavit if the net value does not exceed $100,000.
- No application for appointment of a personal representative is pending or was granted more than six months ago.
2. Identify Eligible Heirs
Ohio law prioritizes distribution to:
- A surviving spouse.
- Children or descendants of deceased children.
- Parents if no spouse or descendants survive.
- Siblings or next of kin if no closer relatives exist.
3. Complete the Affidavit
- Obtain the small estate affidavit form from the county probate court.
- List the decedent’s name, date of death, county of residence and relationship to each heir.
- State the value of each asset and confirm that total debts do not exceed available property.
- Swear under oath before a notary public.
4. File and Serve the Affidavit
File the signed affidavit with the probate clerk. Ohio Revised Code Section 2113.03 may also apply when transferring specific items like bank accounts or personal effects.
Provide certified copies to banks or institutions holding the decedent’s assets. They may release funds or property upon receipt.
5. Distribute Assets
Once institutions release assets, distribute them according to the heir list. Keep receipts and records of assignment for each heir.
Helpful Hints
- Gather certified death certificates—most institutions require them.
- Check each institution’s policy or affidavit form variations.
- Keep detailed records of asset valuation and distributions.
- Contact the probate clerk for local filing fees and any county-specific forms.
- Review Ohio Revised Code sections 2117.06 and 2113.03 to ensure compliance.
Disclaimer: This article is for educational purposes and does not constitute legal advice. Consult a qualified attorney for guidance tailored to your situation.