Legal Question in Wills and Trusts in Ohio

Re: wills and probate

Please accept my condolences on the loss of your mother.

Because of the current volatility in the stock markets, I think it is pretty reasonable for beneficiaries to want to see those funds liquidated promptly and put into fixed investments or bank accounts.

Liquidation can typically be done by the Executor/Executrix once they have been appointed by the Probate Court and they receive their Letters of Authority from the Court.

So the issue becomes, how long does it take to get the Executor appointed? If the original, ink-signed will is readily available, and if it appears to be valid, then the necessary papers can be completed, filed, and approved in a matter of days.

From there, regarding the mutual funds, it would normally require some paperwork from the mutual fund company to be completed directing the liquidation. One should anticipate an additional 7 to 14 days for this to happen. The proceeds of the sale would then be held in an Estate account and the other necessary steps of the probate process would continue.

Of course, this is general legal information and the facts of your particular situation may be different and should be reviewed in detail. If the nominated Executor/ Executrix is near my office in western Cuyahoga county, I would be happy to discuss the matter with him or her. My office phone is 440.899.7710.