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Dayton Ohio Probate And Business Law Blog

What remedies can you pursue in your breach of contract case?

For there to be a legally binding contract, there must be an offer and consideration. There must be a mutual meeting of the minds. The terms, conditions, and expectations of both parties must be made clear. However, sometimes even in the best of circumstances, expectations are not met and a breach of contract occurs.

Fortunately, the law offers a variety of remedies when there has been a breach of contract.

Durable power of attorney abuse: Watch out for mistreatment

Durable power of attorney abuse is a significant concern for people who have family members who have a POA established. If an elder or any party who needs a POA faces abuse from their POA, they may need support from adult protective services, the criminal justice system or others to help protect them.

Durable power of attorney abuse occurs when the agent misuses their powers granted by their principal (the individual who requires a POA). A durable power of attorney is supposed to care for the individual, either by taking care of their finances or by working to provide for their health care and other needs after incapacity. Violating that role can lead to legal challenges down the line, such as complaints of misusing the role.

Planning ahead can help avoid estate disputes

Many estate disputes happen simply because parents do not plan ahead and siblings do not know what their parents wanted. They're left to figure it out on their own. Naturally, they're going to disagree on some fairly big decisions -- maybe one wants to keep the family cabin, for instance, while another wants to sell.

The best way to avoid these disputes is simply to plan in advance. The most basic tactic is writing a will that spells out what you want. The siblings can then follow your instructions. Even when they don't agree with them personally, at least they will not be able to dispute your intentions.

Estate planning isn't just for the aging

It's great being young, although it is perhaps older people who appreciate youth the most. Young people often put off thoughts of retirement planning or estate planning because they're busy enjoying life or building a career and a family. But exuberance and crowded schedules are no reason to avoid something that matters.

One issue that affects all people is who may have power of attorney over them. Anything can happen in life, and parents cannot make medical decisions on behalf of their child once he or she is 18 years old. If a person is not married, there may be no clear holder of the power of attorney without the proper legal documents.

How much does a nursing home cost?

Estate planning involves a lot of different steps, such as listing your assets, deciding if you want to use trusts, writing a will, creating a medical directive, using powers of attorney and much more. You really want to take the time to think of everything; don't just assume that you can write a will and call it a day.

One thing to think about is the cost of future care you may need. You want to budget this into your financial picture. It can impact how many assets you have to leave to your children, what type of medical care you receive, and the like. With careful planning, you can set up a budget to pay for the care you could need in the future.

What is a medical power of attorney?

Estate planning means planning for the future, and you need to go beyond simply writing a will. One of the documents you may want to consider is a medical power of attorney.

What does it do? Essentially, this document chooses someone else to act as an agent on your behalf if you need medical care and you cannot communicate with the doctors. They get to make your choices for you. The document gives them legal permission to do so.

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.

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