Probate Estates

Probate Services Provided By Guiley & Guiley Co., L.P.A.

What is Probate?

Probate of an estate involves the legal process of handling an individual's affairs after death. An attorney is selected by the executor or administrator to prepare the probate court documents and give advice on basic procedures and law. Probate is more than merely transferring a person's assets after death. The probate process includes payment of debts, preparation of asset lists, distribution of assets, preparation of estate and income taxes, and in some instances, the creation and maintenance of trusts and appointment of guardians for minor children.

What about Living Trusts?

Unfortunately, the probate process has developed a negative reputation in the public's eye. The belief that everyone should do all they can to avoid probate has created a climate of misunderstanding. For many people, this perception is the result of cleverly phrased information that is communicated by "financial planners". Typically, a financial planner is nothing more than a life insurance agent. There is little, if any, regulation, training or education required by governmental authorities to advertise yourself as a financial planner. Therefore, financial planners have proliferated with very little oversight. They have attempted to sell "Living Trusts" as an alternative to probate. While a living trust is a useful tool to many individuals and families, it is also very expensive and unnecessary in many instances. Financial planners create a climate of fear about probate in order to sell a living trust. Unfortunately, a living trust may not be necessary or in a person's best interest. Even worse, many financial planners discourage a consultation with a lawyer of your choice to avoid losing a "sale". Why?, because many financial planners earn their money from the sale of living trusts rather than from the sale of investments. The public is misled into believing they are meeting with the financial planner to make investments when in reality, they are being sold a living trust. Even worse, some financial planners do have investment opportunities available to the public, but they still use the meeting to sell a living trust which may not be necessary.

Are there alternatives to Financial Planners and Living Trusts?

Yes, for many typical families, an estate plan can be implemented prior to death without incurring the expense of a living trust that will achieve many, if not all, of the same results. Inexpensive estate planning tools such as joint and survivorship assets may achieve the same results as a living trust. And for some families, a living trust is the best option, however a lawyer should prepare the living trust for you. In order to plan your estate, you should consider consulting with Guiley & Guiley Co., L.P.A. Estate planning tools, including living trusts, will be explained to you and the costs associated with each of them so that you can make an informed decision.

After a death, who should contact an attorney?
Anytime a death occurs, a consultation with a probate attorney is proper. If the deceased left a will, it is best if the executor named in the will contacts an attorney. However, if there is no will, or if you are concerned about whether an executor's actions are appropriate, or if you believe there is a problem with the will, then you should consider consulting with an attorney.

What if there are little or no assets?
Even if the individual left little or no estate, there may be some unforeseen issues that need resolved. If there are limited assets, Ohio probate law allows certain estate to travel on a "fast track" to expedite the probate process. The only way to assure yourself and your loved ones that the estate is being handled properly is to contact an attorney.

What services do Guiley & Guiley Co., L.P.A. offer?
Guiley & Guiley Co., L.P.A. offer complete probate legal services. Both Richard and Rod Guiley can assist you in planning your estate. Should a death occur, Rod Guiley has practiced probate law for twenty years and can assist your executor or administrator. If you or someone else are in need of probate services or legal advice, contact Rod Guiley to schedule an appointment.