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Many states don't count certain property when they set out small estates limits. There are three common kinds of property that is excluded in this way. The amounts each states' laws set for each kind of excluded property differs, but the concept is similar.

A "homestead" is the name for legal protections that states offer to a  certain amount of equity in a person's primary residence. This differs from state to state, but the basic idea is that a person's homestead property is protected for their spouse and children and, in some states, safe from creditors.

Exempt property refers to property that is set aside to be safe from creditors.

Family Allowance, like it sounds, is property (cash and belongings) that are set aside to be available to a surviving spouse and minor children so that they have resources to live on before the probate is completed.

Learn More with AI: 

In probate law in Ohio, what protections from creditors claims are afforded by such things as "homestead" and "family allowance?"  
Are there allowances or exclusions in the small estate limits for "homestead" or  a "family allowance". Please provide references and citations to Ohio law.
And are these limits adjusted for inflation? if so, please provide the current amounts and links to where the current amounts are published.

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Generated by Claude.ai, March 26, 2024

Yes, Ohio probate law provides certain protections and allowances for surviving spouses and minor children of a decedent, including a homestead allowance and a family allowance, which are exempt from creditors' claims in some cases. These protections are designed to ensure that the surviving family members have access to essential resources during the probate process.

  1. Homestead Allowance: Under Ohio Revised Code § 2106.13, a surviving spouse or minor children of the decedent are entitled to a homestead allowance of up to $25,000 in value from the decedent's interest in the family home or other real property. This allowance is exempt from the claims of creditors and is intended to help the surviving family members maintain their residence or secure alternative housing.
  2. Family Allowance: Ohio Revised Code § 2106.13 also provides for a family allowance for the surviving spouse and minor children of the decedent. This allowance is a sum of money paid from the decedent's estate to support the family during the probate process. The amount of the family allowance is determined by the probate court based on the value of the estate and the family's needs, but it cannot exceed $40,000.
  3. Small Estate Exemptions: In cases where the probate estate's value is below a certain threshold, Ohio law allows for a simplified probate process known as a "summary release from administration" or "small estate administration." According to Ohio Revised Code § 2115.06, if the total value of the probate estate is $35,000 or less (or $100,000 or less if there is a surviving spouse), the homestead allowance and family allowance are exempt from creditors' claims, and the estate assets can be directly transferred to the surviving spouse or other beneficiaries without the need for a formal probate administration.

It's important to note that these protections and allowances are subject to specific requirements and limitations, and they may be affected by other factors, such as the existence of a valid prenuptial agreement or the decedent's debts. It's advisable to consult with a qualified probate attorney in Ohio for specific legal advice regarding your situation.

Are these amounts adjusted for inflation? And if so, where can i find the current amounts?

Yes, the homestead allowance and family allowance amounts in Ohio are adjusted for inflation periodically.

The current amounts as of 2023 are:

Homestead Allowance: $37,000 Family Allowance: $62,000

These updated amounts are provided in Ohio Revised Code § 2106.13(A) and (B), which states:

"(A) Unless a surviving spouse receives a mansion house or an interest in real property or proceeds from the sale of the mansion house and real property equal or greater than thirty-seven thousand dollars pursuant to section 2106.10 of the Revised Code, a surviving spouse shall receive in addition to the entire intestate personal property, one of the following: (1) The sum of thirty-seven thousand dollars in money..."

"(B) A surviving spouse or minor children are entitled to receive in money or property the allowance for support prescribed in this section..." (2) If there is a surviving spouse and more than one minor child, not less than sixty-two thousand dollars..."

The Ohio Revised Code is updated regularly by the Ohio Legislature to adjust these dollar amounts for inflation based on the consumer price index. You can find the most current amounts by checking the latest version of § 2106.13 on the Ohio Laws and Administrative Rules website: http://codes.ohio.gov/orc/2106.13

Alternatively, the amounts are often updated on legal resources like the official Ohio Probate Law and Procedure published by Thomson Reuters.


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