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As of January 1, 2013, Ohio has repealed its estate tax.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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We provide legal services to individuals and their businesses, primarily in the areas of Estate Planning (will, trusts, & powers of attorney), Probate, working with Small (closely held) Businesses, and Medicaid Planning.

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Rocky River, OH 44116
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