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Life is a game of chance, and no one knows when their last day will be. That's why it's important for everyone, regardless of their age, to have an estate plan in place. This is even more important if you own your own business here in Dayton.

Most people have a will in place at the time of their death. After a person passes away, this will need to be processed so that assets can be handled and passed to beneficiaries.

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.

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.

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.

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.

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.

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.

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.

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.