Most people know they “should” have an estate plan. Fewer know what one actually includes, or what happens in Ohio if they don’t have one. The good news: a solid plan for most families comes down to a handful of documents, and putting them in place is easier than most people expect.
What happens if you don’t have a plan?
If you die without a will in Ohio, the state decides who inherits under its intestacy laws, and the probate court appoints someone to manage your estate. That may not match what you would have chosen. It can leave out a partner you aren’t married to, a stepchild, or a charity you care about. If you have minor children, the court also decides who raises them.
An estate plan lets you make those decisions yourself, and it usually saves your family time, money and stress.
The core documents
1. A will
A will says who receives your property, names the executor who will handle your estate, and nominates a guardian for minor children. In Ohio, a will must be in writing, signed by you, and signed by two competent witnesses who saw you sign it (or heard you acknowledge your signature). A will does not avoid probate; it tells the probate court what you want.
2. A revocable living trust
A revocable trust holds your assets during your life, with you usually serving as your own trustee, and passes them to your beneficiaries at death without going through probate. Trusts are also private, while a probated will becomes a public record. They are especially useful if you own real estate, have children from a prior relationship, want to control when and how heirs receive money, or have a beneficiary who needs extra protection. The catch: a trust only controls assets that are actually titled in the trust’s name, so “funding” it is a critical step.
3. A durable financial power of attorney
This names someone to handle your finances, such as paying bills, managing accounts and dealing with real estate, if you become unable to. Without one, your family may have to ask the probate court to appoint a guardian, which is slow, expensive and public.
4. Health care power of attorney and living will
A health care power of attorney names someone to make medical decisions for you when you can’t. A living will states your wishes about life-sustaining treatment if you are terminally ill or permanently unconscious. Together they spare your family from guessing, and from disagreeing, at the hardest possible time.
Ways to pass assets outside of probate
Many assets never go through probate at all, as long as they are set up correctly:
- Beneficiary designations on life insurance, 401(k)s and IRAs.
- Payable-on-death and transfer-on-death designations on bank and brokerage accounts.
- Transfer on death designation affidavits for Ohio real estate, which let a home or rental property pass directly to the people you name.
- Joint ownership with right of survivorship, which passes property automatically to the surviving owner.
These tools are powerful but easy to get wrong. An outdated beneficiary form, such as one still naming an ex-spouse, overrides your will. Part of any good plan is reviewing them so everything works together.
What about taxes?
Ohio repealed its estate tax for deaths on or after January 1, 2013. The federal estate tax exemption is $15 million per person in 2026 ($30 million for a married couple) and is adjusted for inflation, so most Ohio families will not owe estate tax. For most people, estate planning is about control, privacy, protecting family members and avoiding probate, not taxes.
How small estates are handled
Ohio has a simpler process, called release from administration, for smaller estates. It is generally available when the probate assets are under $35,000, or under $100,000 when the surviving spouse inherits everything. It still requires a court filing, which is one more reason to plan ahead.
When to review your plan
An estate plan isn’t a one-time project. Revisit it after marriage or divorce, the birth or adoption of a child, a death in the family, buying real estate or a business, a move to another state, or a significant change in your finances. Even without a major event, a review every three to five years is a good habit.
Getting started
You don’t need to have everything figured out before you start. Make a simple list of what you own and how it is titled, who you would want to inherit, who you trust to make financial and medical decisions for you, and who would care for your children. That list is the foundation of a plan.
Vincent Esquire helps Ohio individuals and families put wills, trusts and powers of attorney in place. Learn more about our estate planning services or reach out to talk about what makes sense for you.
This article is for general informational purposes only and is not legal advice. Reading it does not create an attorney-client relationship. Laws change and every situation is different, so consult an attorney about your specific circumstances. Attorney advertising.
