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Dayton Ohio Probate And Business Law Blog

Do I have grounds to contest my parent's will?

Losing a parent is a very difficult thing to go through. Knowing that you only have their memory left, you will want to make sure that their memory is preserved, and you may have expectations about what you will be able to do in the future to make this possible. For example, you may have talked in the past with your siblings about keeping the family home or setting up a charity in a parent's honor.

If you have certain expectations about the future in this way, you may be very surprised or upset when you learn about the contents of the will. As the child of the deceased person, you will expect to receive a significant portion of the estate. If an unexpected person is set to gain a high portion of the estate or if you are receiving less than you expected, you may be wondering whether you can take legal action to do something about this.

Steps for incorporating a business

If you are starting the new year with ambitions to start your own business, you should make sure that you combine your vision for the future with actions in the present. You probably already have a good idea of your business idea and how you would like it to grow in the next few years.

When you have a roadmap for your business, the next step is to take action to incorporate the company. The following are some key steps to set yourself successfully on this path.

Siblings may fight over money they wanted for retirement

When siblings do not get as much money in their parents' estate plan as they wanted, they sometimes get caught up in estate disputes. The bequests may be inequal, for instance, leaving one child more than the other. That child who got less will then take their brother or sister to court for the money they want.

Why does this happen? Shouldn't they both just be happy to get something?

All adults need to do basic estate planning

Many Dayton residents believe that they don't need to do any estate planning. After all, they may reason, they are young, unencumbered and living paycheck to paycheck.

But that belies the reality of the situation. Estate planning is far more extensive than funding trusts and arranging for guardianship of minor children. In addition to a simple will, everyone should draft a living will and at minimum, a health care proxy and power of attorney.

Dealing with the debts of a deceased loved one

If a person you love has recently died, it is likely to be a stressful and sad time for you. Unfortunately, in addition to grieving your loss, you will also have to deal with the administrative aspects of dealing with their estate.

Almost everyone has unpaid bills when they pass away, and some people also leave behind loans and mortgages that have not been settled. While relatively uncommon, a minority of people have more debts than they do assets at the time of their death. The following is an overview of what you need to know when dealing with the debts of a deceased loved one.

Should I create a charitable trust?

When starting to plan your estate, you will likely be interested in planning strategies that will benefit you from a tax perspective. In addition, you may be reflecting on things you can do to make a positive impact on the world and benefit causes that you care deeply about.

Creating a charitable trust can help you to give back while at the same time benefitting you tax-wise. However, if you are torn between leaving a significant portion of your estate to a loved one and leaving it to a charitable cause, you should reflect more on whether a charitable trust is the right choice for you.

Is there a definition for undue influence?

Undue influence can be something of a tricky subject in estate disputes because there is no specific definition. Also, it can look a bit different from one case to the next. But undue influence is the process of inducing an elderly person to change their will or estate plan. But what does it look like?

It usually involves manipulation. It can exploit an elderly person's:

  • Dependency
  • Vulnerabilities
  • Fears
  • Trust

You may need an 'outside in-house' counsel for your business

Big corporations always have a team of well-paid attorneys working to keep the business on the straight-and-narrow legal path. This protects the company's interests in all kinds of disputes. If your company is a just-emerging start-up or a medium-sized business, however, you probably don't have the funds to hire your own in-house legal team.

That's why hiring a firm like ours to represent your company as its "outside in-house" counsel can be both financially practical and wise. You have steady access to an attorney you can trust on an as-needed basis. That makes it the perfect "size" legal representation for everybody.

Don't have a will? Most people are in the same boat

Have you never bothered to draft a will or do your estate planning? If you talk to friends, co-workers and family members, do most of them say that they have not done it either?

The truth is that most Americans are in the same boat. Studies have found that about 60% of them do not have a will. If you ask any given person that you encounter, the odds are in favor of them not having done their estate planning yet.

The 5 requirements for a valid contract

When you are a business owner or manager, you will almost certainly need to draft contracts regularly. Contracts are a way for you to protect the interests of your business at all costs. Therefore, it goes without saying that they are very important to get right.

For a contract to be considered legally valid, there are five specific requirements. Ensuring that all five of these requirements have been fulfilled is one of the fundamental things that you should do when a new contract is made. The following is an overview of these requirements.

  • Ohio State Bar Association | Connect.Advance.Succeed
  • Federal Bar Association | ORG Jan 5th 1920
  • Dayton Bar Association 1883
  • Super Lawyers
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