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Probate Administration in Wapakoneta, OH

Wiesenmayer Law Office, LLC offers probate administration services to those in Wapakoneta, OH. Contact us if you need help with probate law!

Wiesenmayer Law Office, LLC is located in the historic downtown business
district of Wapakoneta, the seat of Auglaize County, Ohio. We are proud
to provide sound business and legal counsel to our clients and keep them
actively involved throughout the process. Our office practices in the
following areas:

• Wills
• Trusts
• Estate Planning
• Real Estate
• Business & Corporate Law
• Collections
• Tax Planning
• Retirement Living Planning

Thank you for your interest in Wiesenmayer Law, LLC. We look forward to serving your business and legal needs.

IRA CONVERSIONS: If you want to consider converting a traditional IRA to a Roth IRA, the New Tax Law has eliminated the process of “recharacterization”. Therefore, you may want to consider spreading-out the conversion to a Roth IRA into equal portions over two or three years to reduce the risk that the investment would fall substantially in value after the conversion is made.

529 SAVINGS PLANS: You should also note that the New Tax Law permits a tax-free withdrawal from a 529 Savings Plan up to $10,000 per child each year to be used for tuition for private or religious schools, and for certain home schooling expenses for children in grades K-12.

MAKING A WILL: Ohio Revised Code §2107.03 provides the Method for Making a Will: Except oral Wills,every Last Will and Testament shall be in writing, but may be handwritten or typewritten. The Will shall be signed at the end by the testator making it or by some other person in the testator’s conscious presence and at the testator’s express direction, and be attested and subscribed in the conscious presence of the testator, by two or more competent witnesses, who saw the testator subscribe, or heard the testator acknowledge the testator’s signature. For purposes of this section, “conscious presence” means within the range of any of the testator’s senses, excluding the sense of sight or sound that is sensed by telephonic, electronic, or other distant communications.

AVOID PROBATE: One method to avoid probate is to register your accounts as “Pay on Death”. OhioRevised Code §2131.10 provides: A natural person, adult or minor, referred to in Section 2131.10 and 2131.11 of the Revised Code as the owner, may enter into a written contract with any bank, building and loan or savings and loan association, credit union, or society for savings, authorized to receive money on an investment share certificate, share account, deposit, or stock deposit and transacting business in this state, whereby the proceeds of the owner’s investment share certificate, share account, deposit, or stock deposit may be made payable on the death of the owner to another person or to any entity or organization, referred to in such sections as the beneficiary, notwithstanding any provisions to the contrary in Chapter 2107 of the Revised Code. In creating such accounts, “payable on death” or “payable on the death of” may be abbreviated to “P.O.D.” Every contract of an investment share certificate, share account, deposit, or stock deposit authorized by this section shall be deemed to contain a right on the part of the owner during the owner’s lifetime both to withdraw the proceeds of such investment share certificate, share account, deposit, or stock deposit, in whole or in part, as though no beneficiary has been named, and to designate a change in beneficiary. The interest of the beneficiary shall be deemed not to vest until the death of the owner. No change in the designation of the beneficiary shall be valid unless executed in the form and manner prescribed by the bank, building and loan or savings and loan association, credit union, or society for savings.

RELEASE AND DISCHARGE OF PAYABLE ON DEATH ACCOUNT: When a person dies with a Pay onDeath account, Ohio Revised Code §2131.11 provides as follows: When an investment share certificate, share account, deposit, or stock deposit is made, in any bank, building and loan or savings and loan association, credit union, or society for savings, payable to the owner during his lifetime, and to another on his death, such investment share certificate, share account, deposit, or stock deposit or any part thereof or any interest or dividend thereon, may be paid to the owner during his lifetime, and on his death such investment share certificate, share account, deposit, or stock deposit or any part thereof or any interest or dividend thereon, may be paid to the designated beneficiary, and the receipt of acquittance of the person paid is a sufficient release and discharge of the bank, building and loan or savings and loan association, credit union, or society for savings for any payment so made.