A few months back, we posted about the need for ancillary administration proceedings for property that a decedent owns outside the State of Ohio. Since we are in Northwest Ohio, the most common estate planning issue we deal with is a family vacation home located in Michigan or in the so-called “Sunbelt” states (Florida is still the most common, but we are seeing more and more vacation and retirement properties in the Carolinas and Tennessee).
Protecting and transferring out of state property is an important part of an estate plan, but there is a secret: the tools we use for out of state property are essentially the same ones we use for property located in Ohio. That is, probate can often be avoided by using the same estate or trust planning tools we use here in Ohio. These types of plans may seem complicated, but they shouldn’t have to be. Chris and I are happy to sit down and discuss your estate planning goals and, as always, our initial consults are free.
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