A 2011 poll found that around 60 percent of Americans do not have a will. Many Ohio residents may think that they do not need a will because they are too young; however, death or incapacity may occur unexpectedly at any age. If a will is not in place, then the state...
Serving the Cleveland Area since 1994
Serving the Cleveland Area since 1994
Month: November 2016
Avoiding probate problems with an estate
Although it may be easy to put off estate planning, failing to address one's end-of-life wishes for the management of assets could leave those assets in control of the Ohio probate system. The state uses probate as an avenue for legally assessing the value of an...
Common questions about guardianship of an elderly parent
If you have an elderly parent who is rapidly declining you may be considering guardianship to ensure that your parent's best interests are met. When should I consider guardianship? In Ohio, guardianship is a very restrictive protective service and is reserved for...
The benefits of an incentive trust
Ohio parents who are worried that their heirs may not be great at managing money or other assets may want to consider an incentive trust. When they die, assets go into the trust as opposed to going directly to an heir. A trustee oversees the trust and distributes...
The importance of beneficiary designations in estate planning
Ohio residents who need to make an estate plan should be mindful of whether they have accounts with beneficiary designations. This may include insurance policies, savings accounts and retirement accounts. Sometimes, people fill out beneficiary paperwork once and...
