Trust Distribution

[UniqueName9528]

Jurisdiction

Ohio

Hi,

My mother had an uncle and she is a beneficiary of his trust. There is a distribution for my mother from this trust but my mother has passed away. Edward Jones who holds the trust has said in order for the distribution to be received, an estate needs to be setup.

My father has his own will and trust but no estate. EJ won't talk to us about any further details until an Estate Administrator exists.

The Edward Jones office handling the trust is in Missouri. My mother and her uncle both lived and died in Ohio. We do not yet know if we have to go through Probate or not. The counties involved would be Medina and Summit respectively. (uncle/mother)

We're beginners in the subject and know nothing about setting up an Estate.

We've been directed that we need an Estate Attorney to setup an Estate. What we don't know is what the costs involved are, should be, or what would be outrageously expensive for a said Attorney's services. For all we know we could go to "EstatesAreUs.com" and create one for $50, but wouldn't know.

What we have accomplished so far is an initial consultation with an Estate Attorney and their rate is $350/hr.

What is the best way to go about this from others familiar?



Thank you for reading,

Chris

 

[adjusterjack]

What we have accomplished so far is an initial consultation with an Estate Attorney and their rate is $350/hr.

Were your father and mother married when your mother died? If yes, all your father has to do is take the death certificate, and her will - if there was one) to the local probate court in Ohio and apply to be representative of her estate. He will also need a TIN from the IRS and a checking account in the name of "The Estate of _____." Then he will have the authority from the court to accept your mother's inheritance from the uncle's estate distribution. Once that happens he can distribute the money according to her will or under intestacy as necessary. There should be enough information on the court's website to help him through this.

If they weren't married at the time of her death, and he wasn't nominated in her will, then it falls on you to do it.

Unless your mother's assets were extensive and/or complicated, neither you nor your father should have to pay money to attorneys to get this done.

Ohio probate at DuckDuckGo

 

[Tax Counsel]

Unless your mother's assets were extensive and/or complicated, neither you nor your father should have to pay money to attorneys to get this done.

Ohio probate at DuckDuckGo

I've seen executors screw up even simple estates. So the OP should take that option recognizing that if anything gets screwed up the blame will fall squarely on him/her. If the OP has never done it before, hiring an attorney for this may be a good idea. If it's simple, the hours spent on it should not be all that much as the attorney shouldn't have to spend a lot of time on it. The size of the estate, as you noted, is indeed a signifcant factor in that decision, but it's not the only factor.

 

[UniqueName9528]

Were your father and mother married when your mother died?

Thanks for your reply adjusterjack. Yes, they were married when she passed away. Yes she has a will. She and my father have some assets but in general would guess it's not too complex. thank you for the info, much appreciated.

 

[UniqueName9528]

I've seen executors screw up even simple estates...

Thanks Tax Counsel, appreciate the advice. Parents have some assets and why there is a trust, yet, no experience to say how complex it is. I'd have to guess probably not too bad, they did ok, but we're not talking millions and millions. Also see the value in using professional services to get the details right. Thank you for your reply, comment much appreciated.

 

[adjusterjack]

I agree with Tax Counsel that an attorney may be necessary if the estate gets complicated or if your father feels out of his depth.

However, Ohio has a small estate process that may apply. Here's a guide from one probate court. Your local court may have similar information available.

Franklin County Probate Court - Estates (Small) (franklincountyohio.gov)

 

[UniqueName9528]

I agree with Tax Counsel that an attorney may be necessary if the estate gets complicated or if your father feels out of his depth.

However, Ohio has a small estate process that may apply. Here's a guide from one probate court. Your local court may have similar information available.

Franklin County Probate Court - Estates (Small) (franklincountyohio.gov)

Thanks adjusterjack, much appreciated!

 

[UniqueName9528]

There was one detail (question) I inadvertently left out. The Estate Attorney we're working with said there was a %4.5 charge to incoming assets into the estate either above or below 100k. I thought it was above 100k, something has come up that they're saying below. Either way, is this a normal thing? I'm in ohio, is this a probate directive thing?

 

[army judge]

There was one detail (question) I inadvertently left out. The Estate Attorney we're working with said there was a %4.5 charge to incoming assets into the estate either above or below 100k. I thought it was above 100k, something has come up that they're saying below. Either way, is this a normal thing? I'm in ohio, is this a probate directive thing?

You have retained an attorney.

You should ask your attorney.

Internet characters UNKNOWN to you can't substitute for a licensed attorney.

If you no longer value your attorney, fire her/him, and hire another attorney.

 

[UniqueName9528]

You have retained an attorney.

You should ask your attorney.

Internet characters UNKNOWN to you can't substitute for a licensed attorney.

If you no longer value your attorney, fire her/him, and hire another attorney.

As I am, thank you for your reply/advice army judge