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.
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.
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.
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.
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.
Estate planning designates material possessions and other assets to family members and other loved ones. For older people, it represents an opportunity to pass down cherished mementos from one generation to another.
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.
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.
Estate planning in any form presents challenges. Legal complexities combine with emotionally charges issued. Simply stated, few want to face their own mortality.
Imagining what your child's life would be like if you die can be an emotionally traumatic exercise, but it is an essential one. It is this process that can help you determine who you want to name as your child's guardian in your will. Avoiding the issue does not resolve it, because the court will choose someone to raise your child in the event of your death if you have not done so.