Legal Question in Wills and Trusts in Ohio
Hello,
My father passed away with a pour over will that goes into a Trust in the state of Ohio. His mother originally owned the condo but I am 99% sure he had deed transferred into his name.
My first question is whether his condo that was owned free and clear can be passed over into the Trust so we can avoid probate, ( can a pour over will transfer real estate? ) and my second question is we found a promissory note from my middle brother and his ex wife that was signed by both for $50,000...what do we need to do/actions needed to be taken to collect this $/liability for his estate?
Thanks so much!
2 Answers from Attorneys
If the real estate was in your father's name and not the trusts name then a probate administration will be necessary to transfer it from your father's name to the trust.
The promissory note would also be a probate asset and someone will need to be appointed executor to collect that asset.
Itr would depend on the wording in the Deed to your FAther on the Condo.
If it was survivorship, then no Probate is needed.
we would have to see the deed.
Also, the Note is a debt owed by the Brother.
He should be asked if any payments were made and to show his records.
the balance due can be worked out from his share of the estate called and "advancement"
he may not have to pay any cash but the other beneficiaries would get more and he would get less from the Fathers estate in order to settle up the debt.
Thomas Richards,Attorney
9200 Montgomery Rd Blkg 7B
Cininnati,Ohio, 45242
513-871-8755
Ohiotrustlawyer.com (website)
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