|
Am. S.B. 124 - Probate Law |
|
| Introduced: 3/22/11 |
|
| Status: referred to the
Judiciary-Civil Justice Committee; amended; passed the Senate; referred
to the Judiciary & Ethics Committee; amedded; amended; passed the House;
Senate Concurs in House Amendments; signed by the Governor 10/11/11;
effective January 9, 2012 |
|
| Summary - To modernize the probate code by replacing outdated language and adding substantive changes to codify best practices to better serve the public. Some of the substantive amendments are: | |
| * | A will declared valid under 2107.081 may only be modified by a codicil if the codicil is also declared valid under 2107.081. |
| * | Reduces the time requirement that causes a beneficial interest not to pass to one who withholds a will from 3 years to 1 year after death. |
| * | Changes the time allowed to admit an oral will to probate from 6 months to 3 months after death. |
| * | Broadens the residency requirements of a guardian. |
| * | Requires fiduciaries to file a written statement of resignation with the court after 15 days notice to interested persons. The court may set a hearing on the resignation. |
| * | Allows a fiduciary to invest in credit unions. |
| * | Allows the personal use of estate assets by the fiduciary if consented to by all interested parties and approved by the probate court. |
| * | Allows the fiduciary of an estate to petition the court to purchase assets from the estate. |
| * | In a release from administration, the court may appoint a commissioner to execute documents pursuant to 2127.011, consent to a power of sale. |
| * | Amended to give probate judges discretion to appoint a non-Ohio resident as a guardian of the person. |
| * | Amended to include credit unions along with banks as eligible estate depositories. |
| * | Amended to eliminate personal liability for probate judges for default, malfeasance or nonfeasance of an appointee (incorporating HB 28). |
| * | Amended to modify probate court involvement in Medicaid estate recovery program. Eliminates the requirement for probate court to send form and eliminates requirement of content of form. |
| * | Amended to bar fiduciaries from making short-term investments in foreign instruments. |
| Return to Home Page | |