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estate planning Archives

Estate planning review can be convenient this time of year

Ohio residents may use the end of the year period to review their estate plan. Alternatively, they may use this time to get one started. For those who have already engaged in some degree of estate planning, it is a good time to review one's beneficiaries. This may include persons that have received gifts in the person's will, and it may include the beneficiaries that are listed on insurance policies or on retirement or investment accounts.

Review and update estate planning documents every 5 years

There are many seniors in Ohio who have estate plans that have not been reviewed in many years. The problem arises, however, that a plan that has not been reviewed for 10 or 20 years or more may be woefully out-of-date. The personal representative of the will may need to be changed and other testamentary appointments may be unavailable or deceased after that long of a period. Estate planning is an ongoing process. 

Estate planning tools can protect assets from child's ex-spouse

While a parent will typically want to see his or her assets go to a child, seeing those assets go instead to the child's ex-spouse in a bitter divorce is generally going to be anathema to the parent. A child's ex-spouse can get in the way of what the decedent clearly wanted, which was to keep his or her assets in the family. There are estate planning techniques that may be implemented in Ohio to make sure that the person's assets go to the right persons.

Is estate planning even right for me?

A will is an incredibly important and often overlooked tool. This document can provide a wide array of protections and benefits, but many in Ohio still eschew the estate planning process, viewing it as something for only the rich or very wealthy. A comprehensive will is not reliant on a certain number of valuable assets, and can be used by virtually everyone to create the best estate plan possible, easing the burden for loved ones left behind.

Are 'heroic measures’ in your healthcare directive right for you?

An unexpected cardiac arrest, sudden illness or life-threatening accident can be the split second that changes the life you knew and a future you never planned for. When serious medical issues come up, and you and your loved ones are suddenly facing end-of-life care decisions, you may not fully understand just what these decisions entail.

Are holographic wills legal in Ohio?

Suppose a disaster strikes, sudden injury or illness affects your family, or a loved one is trapped and alone—in emergency situations like this, a holographic will may be the only option left for many people. A holographic will is one that is entirely handwritten by the person creating it and done without a lawyer involved. These are usually signed by the person who made it, but in some states, they are still legally binding when not signed.

Your will, your estate documents, and you

If you have a car, it is imperative that you frequently take it in to get the oil changed and to perform routine maintenance. If you don't do this, your car will eventually break down, and it could leave you stranded in a very difficult position. Along the same lines, your will needs to be updated and maintained on a frequent basis. Just like the car, if your will isn't properly maintained, it will fail you when it needs to be implemented.

Study: Less than half of Americans have plans for end-of-life care

There's no question that many people find the subject of their own mortality rather uncomfortable. Indeed, it's the reason why so many are loath to make doctor's appointments, buy life insurance and, of course, execute the necessary estate planning documents.

3 tips for avoiding accusations of undue influence

Your siblings were fine with your offer to take care of Mom, but would they feel the same if they knew that now she wants to change her will? It seems fair that because you rearranged your life to help her, she should acknowledge that with a financial award. However, you do not want them to accuse you of manipulating her from your position as her caregiver, especially if you fear it will lead to a court battle.

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