- Practice Areas
- Contact Us
As of January 1, 2013, Ohio has repealed its estate tax.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.