Martin Folino - Probate Attorneys - Dayton Ohio

 

The mention of “probate” causes anxiety attacks for clients.  They know that they need to take steps to “avoid probate”. But most clients don’t really understand what is “probate” and how easy it is with proper planning to “avoid probate”. A better understanding of these two concepts can alleviate the anxiety which most clients have on the process. This is simply a summary of some of the techniques which are available to avoid probate. Whether or not any of these techniques are truly applicable to an individual situation depends upon the review of the individual facts of each client’s situation by a qualified legal professional.

Avoiding Probate and Dealing with Probate Issues - Dayton Ohio

Avoiding Probate - The Power of Attorney

Avoiding Probate - Power of Attorney

Probate court is also designed to protect those individuals who are not capable of handling their own business affairs. Individuals under the age of 18 are statutorily deemed to be incompetent to handle their own business affairs.

As a result, assets that come into hands of a minor would be subject to a guardianship under probate court administration with the accompanying delays and expenses.  Adults can also be subject to guardianship provisions in the event of a disability or mental incapacity.  Should such an event occur, the assets would be subject to a guardianship under probate court administration process for the remainder of the individual’s life time. 

A well drafted durable power of attorney can appoint someone to manage financial affairs of an individual in the event of such incapacity. The attorney in fact can manage the affairs pursuant to the authority granted in the power of attorney and avoid the necessity of the probate administration. Hence, the power of attorney is an important document to ensure that adults will avoid probate in the event of their incapacity.

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