Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a licensed attorney for guidance specific to your situation.
Detailed Answer
When someone dies in Ohio, any bank accounts held solely in their name become part of their probate estate unless they have a payable-on-death (POD) designation. To access and withdraw funds during probate, follow these steps:
1. Determine Whether Probate Is Required
- If the decedent named a POD beneficiary, the account passes outside probate. The beneficiary presents a certified death certificate and beneficiary election form to the bank.
- If no POD designation exists, the account enters probate. You must appoint a fiduciary to manage estate assets.
2. Appoint an Executor or Administrator
File the decedent’s will (if any) and a death certificate with the local probate court. Under Ohio Revised Code §2113.03 (ORC 2113.03) and §2113.04 (ORC 2113.04), the court will issue Letters Testamentary (for a will) or Letters of Administration (intestate). These letters authorize the fiduciary to access estate assets.
3. Gather Required Documents
- Certified copy of the death certificate.
- Original Letters Testamentary or Letters of Administration.
- Personal identification of the fiduciary.
4. Present Documents to the Bank
Take the above documents to each financial institution holding the decedent’s funds. The bank will verify the letters and may require an affidavit of domicile or a copy of the probate court’s order. Once verified, the fiduciary can:
- Open an estate checking account.
- Transfer funds from the decedent’s account into the estate account.
- Withdraw money to pay valid debts, taxes, and estate expenses.
5. Use a Small Estate Affidavit (When Applicable)
If the total personal property (including bank accounts) does not exceed $35,000 and there is no real estate, Ohio Revised Code §2106.13 (ORC 2106.13) allows heirs to use a Small Estate Affidavit. Each heir may collect their share by presenting the affidavit and death certificate to the bank.
6. Distribute Funds According to the Will or Ohio Law
After paying creditors and expenses, the fiduciary distributes remaining funds to beneficiaries under the decedent’s will or Ohio’s intestacy statutes (ORC 2105.06). Maintain accurate records of all transactions for the final probate accounting.
Helpful Hints
- Obtain multiple certified death certificates early; banks often require original copies.
- Verify whether the decedent named POD beneficiaries—this can avoid probate delays.
- Keep estate funds separate—never mix personal and estate accounts.
- Track all withdrawals and deposits—courts review the probate accounting closely.
- Check for outstanding debts and file creditor claims within the statutory timeline.
- Consult the probate court clerk’s office for local filing fees and procedures.
- Consider small estate procedures if the estate qualifies—this can expedite access.