Legal Question in Wills and Trusts in Ohio
Value of Real Estate in Probate Documents
The Probate documents have a section for Real Estate Value. The real estate is in both husband and wife's names. It is not set up as Joint Survivorship (reason for probate.) The husband has passed away. The wife is the executor and beneficiary according to will. Do I put full appraised value for this property in this document or half of the appraised value? I am the oldest child taking care of the paperwork (lucky me.) Thanks in advance.
2 Answers from Attorneys
Re: Value of Real Estate in Probate Documents
You are only required to list one half of the value of the real estate. Also, remember to only include the husband's one half interest on the estate inventory.
Re: Value of Real Estate in Probate Documents
If the house is in both names, and not joint and survivor the surviving spouse only owns a half interest in the house. Therefore, only place a half interest on the form.
Good luck!!!!!
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