Estate Administration
I. Transfer Of Assets:
A. Probate
B. Non-Probate: Payable on Death (POD)Designations
Transfer on Death (TOD) Designations
Joint and Survivorship Ownership
Trusts
II. Estate Taxation:
A. Ohio: Deaths in 2012: Exemption was $338,333.
Deaths in 2013 and thereafter: Estate tax is repealed, therefore
No Ohio Estate Tax.
Return was due 9 months from date of death.
B. Florida: No Estate Tax
C. Federal: Deaths in 2023: Exemption is $12,920,000.
Exemption is indexed for inflation going forward, but
scheduled to be effectively reduced to one-half of the current
exemption in 2025.
Return is due 9 months from date of death.
Return is required to transfer deceased spouse's unused exemption to the surviving spouse.
III. Income Taxation:
A. Final 1040 for Federal/State/Local: Due: April 15 (Federal and State)
B. Estate or Trust Form 1041: Due: 3 months and 15 days following close of
fiscal year.
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