SUMMIT COUNTY COURT OF COMMON PLEAS - PROBATE DIVISION
JUDGE ELINORE MARSH STORMER

My Loved One Has Passed

My Loved One Has Passed

Jan 9, 2015

When a person dies, some assets automatically transfer to named beneficiaries like life insurance or investment accounts; others can transfer outside of probate, such as joint and survivorship real estate or property recorded to transfer on death. All other property, real or personal, must be transferred through Probate court. This is known as “probating the estate.” Once Probate receives a request to open and administer an estate, the Court appoints a “fiduciary” to handle the affairs of the deceased person. The fiduciary first inventories the decedent’s assets and liabilities to ensure that property is properly collected, managed, and fairly distributed among the creditors and their heirs and/or beneficiaries, according to the directions of the decedent and/or the laws of Ohio. Naming a fiduciary to administer the estate, hiring an attorney, probating the Will, and handling all of the financial responsibilities can be a daunting process. Due to the complexity of the law and the legal issues that may be involved in estate administration, the Court recommends that all fiduciaries seek legal counsel. Good legal advice and guidance can expedite probate and prevent costly errors. The value of each estate’s assets determines the type of estate filing that is required.  Learn when it is appropriate and how to file an estate on your own. Click for Video   **************************************************************************************** Answers regarding Stimulus Payments and the death of a loved one. This and other answers can be found at the The Internal Revenue Service (IRS) website. Does someone who dies qualify for the stimulus payment? No.  Payments made to someone who died before the payment should be returned. Return the entire Economic Impact Payment (EIP) unless it was made to joint filers and one spouse had not died before receipt of the Payment.  In that case, you only need to return the portion of the Payment made on account of the decedent. This amount will be $1,200 unless adjusted gross income exceeded $150,000. How to return: If a paper check: Write “void” in the endorsement section on the back of the check. Mail the voided Treasury check immediately to the appropriate IRS location. Don’t staple, bend, or paper clip the check. Include a note stating the...