Fiduciary Bond Signing Explained

Summary

Signing a fiduciary bond means accepting a legal duty to act in anothers best interest, often as an executor, guardian, or trustee. In Ohio, if a person dies without a will, their estate is distributed according to intestacy laws. If your grandmother had two children and one is deceased, the estate is typically divided between the surviving child and the descendants of the deceased child. The probate process can take 12-18 months, including appointing an estate administrator, appraising assets, settling debts, and distributing assets.

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Ohio
In Ohio, a fiduciary bond is a type of surety bond required by courts for individuals appointed to fiduciary roles such as executors, guardians, or trustees. This bond ensures that these individuals will perform their duties ethically and responsibly.
Do you need assistance with the process of obtaining a fiduciary bond, or do you have any other specific questions related to your fiduciary role?
Yes does that mean since my grandma passed with no will that it will be split equal
In Ohio, if your grandmother passed away without a will (intestate), the estate is generally distributed according to state intestacy laws. Typically, the estate would be distributed among her closest relatives.
- If she had children, it would be divided equally among them.
- If no children, it may go to her spouse, parents, or siblings.
Do you need more specific details about the distribution process?
Well she had * kids and one of them was my dad he is deceased then my uncle
In Ohio, if your grandmother passed away without a will, the estate would generally be divided according to intestacy laws. Since your father is deceased, his share would typically pass to his descendants (you and any siblings you have). Your uncle would receive the other half.
Do you have any questions about the steps for claiming your share of the estate?
How long does this process take
The process can vary, but generally:
- Appointment of an estate administrator: *-3 months
- Inventory and appraise assets: *-6 months
- Settle debts and taxes: *-12 months
- Distribute remaining assets: *-3 months
Overall, it could take around *-18 months. Do you need information on how to start the process?