Tax Releases

As of January 1, 2013, Ohio has repealed its estate tax.  But for people who died before that date, a tax release might be required.  A tax release is a form issued by the county auditor permitting a financial institution to transfer an account. A tax release is required if the account is greater than $25,000, and if the survivor or beneficiary is anyone other than the surviving spouse.

When trying to transfer an asset in a decedant's estate, sometimes you will be asked for a tax waiver.  Some states use that name for a tax release.  The institution holding the asset is asking for the same thing. 

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