Estate Planning in Ohio

What it means in Ohio:
Estate planning in Ohio focuses on transferring assets efficiently, minimizing probate, and using state-specific tools like TOD deeds.

Key points:

• Governed by Ohio statutes
• Applies to individuals at all asset levels
• Planning can reduce probate involvement

Ohio-specific considerations:

• Transfer on Death (TOD) Deeds
  • Ohio recognizes TOD deeds for real estate
  • Must be recorded with the county recorder before the owner’s death
  • Allow real property to pass outside probate while ownership and control remain with the owner during life
• State Taxes
• Ohio has no state estate tax or inheritance tax
• Federal estate tax may apply for high-value estates
• Federal Estate Tax Context

Whom it applies to:

• Residents planning to transfer property
• Property owners seeking probate avoidance

Individuals managing complex estates