Kathryn T. Joseph & Associates, Inc.
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wills Archives

Writing a letter of final wishes

When preparing their will, Ohio residents may benefit from including a letter of final wishes. This non-legal document is a way for testators to express themselves to family members in a thoughtful and considerate manner. It includes information that is not typically included in a will.

The effects of an estate tax repeal

People in Ohio who have an estate plan in place may want to review their documents to see how a potential repeal of the estate tax may affect their assets. There may be a number of changes they should make if the estate tax and/or generation-skipping tax is revoked.

Best practices for storing and sharing estate planning documents

Most people in Ohio tend to experience some discomfort when thinking about their end-of-life affairs, but estate planning professionals emphasize the need to inform heirs or executors of wills of the location of documents such as wills, powers of attorney and medical directives. If no one knows where the estate plan is kept, then the probate court might consider the person intestate.

Selecting estate planning agents

When Ohio residents creating an estate plan, one of the things that they may want to do is to select agents for powers of attorney. Powers of attorney allow people who are trusted to handle things or make choices if the person becomes incapacitated. For instance, financial powers of attorney are a common document that allows named agents to make financial decisions for the principal who can no longer make them.

Estate planning strategies for reducing tension among heirs

When someone passes in Ohio, sometimes surviving family members are dissatisfied with how the departed distributed the estate. Hostile arguments or even lawsuits might result, but estate planning professionals have some suggestions for limiting family disputes and dividing assets fairly.

What to include in a will

Individuals in Ohio and elsewhere in the country usually put off creating wills until they believe that they need them, such as when starting a business or becoming parents. When people decide the time has come to draft their wills, they need to make sure their documents contain the essential elements.

Estate planning tips for newlyweds

It is fairly common around this time of year for the final preparations to summer weddings to take place. Indeed, it is important to have guest lists finalized and fees paid for caterers and decorators. The same can be said for ensuring that all the important parties understand what their roles are during the special day.

Essential tips for proper estate planning

Ohio residents may have heard that music icon Prince died in 2016 with no will. As a result, Prince's sister and five half-siblings are still fighting over how his estate should be divided. Valued at about $300 million when he died, the estate will likely be cut in half because of taxes and lawyer fees. Regardless of how it is divided, it probably won't be in a manner that Prince would have wanted.

Emergency clauses could protect estates

When the unexpected happens, Ohio residents who think that their estate planning is airtight can lose everything in an instant. Situations that can cause this misfortune include sudden death or theft. Loved ones can also die within close succession of one another. Examples of these incidents have been revealed in news reports regarding celebrity deaths like Carrie Fisher, Debbie Reynolds, and Zsa Zsa Gabor.

Keeping track of passwords for estate planning purposes

Most Ohio residents will be familiar with how frustrating it is to forget a user name or password. While being unable to log into an important website is usually a fairly straightforward problem to remedy, it can cause havoc for estate planning attorneys and heirs when the author of the password in question has passed away. Most online security experts recommend that individuals use several complex passwords including letter, number and symbols that are hard to remember but easy to forget, and websites that contain highly sensitive information sometimes require their users to regularly select a new password.

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Kathryn T. Joseph & Associates, Inc.
Executive Commons West
29425 Chagrin Blvd.
Suite 305
Cleveland, OH 44122

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