While an Ohio estate plan might contain any number of different elements, most estate plans include a simple Last Will and Testament. Sometimes it is advisable to utilize Trusts as well. According to Kiplinger, a Trust is not just for the wealthy. Instead, many people...
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3 elements a basic estate plan needs
Some people in Ohio put off making estate plans until they face a serious medical diagnosis. Others create plans early on as a means of maintaining peace of mind and control over their affairs. If you count yourself among those who have yet to put a basic estate plan...
Healthcare powers of attorney are essential estate planning tools
No one expects a serious illness to strike or to sustain a severe injury in a vehicle crash, but there are estate planning tools that provide help in such situations. Durable powers of attorney (POA) for healthcare enable you to designate an agent to act on your...
How to choose an executor for an estate
When it comes to completing a Will, choosing an executor, and one or two alternate executors, is one of the most important decisions to make. Not only is the executor in charge of gathering all probate assets, making reports to the probate court, paying the valid...
How can you condition an inheritance with a trust?
Sometimes all you need are beneficiary designations or a last will and testament to pass your property to your children after your death. However, some people aren’t sure whether their adult children will be responsible with an inheritance. This is a primary reason...
What are the benefits of having an estate plan?
Having control over the fate of your assets after your death and naming a trusted person to administer your assets for your benefit if you are ever unable to do so yourself can add comfort, peace, and value to your life. An estate plan provides a space for you to...
Can you plan your estate around probate?
Most people considering estate planning desire to make their passing as simple as possible for their loved ones and to ensure that their loved ones are properly cared for after they pass. Dealing with your death is a difficult situation, so easing their stress by...
Can loneliness affect a nursing home resident’s estate plan?
As we age, many of us require nursing care. It often takes some time to adjust to living in a nursing home, as long-term relationships and familiar routines are disrupted. This often causes nursing home residents to experience a deep sense of loneliness. Sadly,...
How can you avoid estate planning mistakes?
Virtually all people require a good estate plan. A solid estate plan helps ensure your family is cared for, even after you are gone. It is essential for most people to have a plan in place, but it is equally important to avoid common estate planning mistakes. One...
The difference between probate and non-probate transfers on death
Any property held solely in your name must go through Ohio probate, which can become a time-consuming, expensive process. On top of probate, your heirs are responsible for paying federal and state income taxes within a specific amount of time. Probate can take a year...