Legal Question in Wills and Trusts in Ohio
My father is terminally ill. We currently have a Durable Power of Attorney. Will this be voided if and when he passes? If so what do we need to make sure we will stay out of probate court in regards to personal property or assets?
1 Answer from Attorneys
The durable power of attorney will not be valid after your father passes away.
In order to avoid probate you need to use assets that are either payable on death, transfer on death, joint with right of survivorship or place the assets in a trust. The choose of ownership will depend on many things such as tax consequences, intended beneficiaries. You may or may not have the ability to make these transfers using a power of attorney.
I would suggest that you confer with an estate planning attorney to determine the best course of action for this particular situation.
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