As the costs of long-term care increase, people in Ohio are more concerned with the specifics of providing for themselves in the event that they need care later in life. For those who are planning to rely on Medicaid to cover some or all of the expenses, it's...
Serving the Cleveland Area since 1994
Serving the Cleveland Area since 1994
Year: 2017
Estate taxes can often be avoided with dynamic estate planning
Most Ohio residents would probably prefer to pay as little in estate and inheritance tax as possible. This is especially true in the case of untimely deaths. The last thing a grieving family wants to deal with is extra taxes. The story of the so-called 'death tax" is...
Legacies and estate planning
People in Ohio who are creating an estate plan might think in terms of making a will and setting up a trust. However, there is another way to conceptualize the process. A 15th-century morality play called "Everyman" tells the story of a man facing his own death. In...
Some may pay more for Medicaid next year
At the end of each year, older Ohio residents and others throughout the country receive something called a Income-Related Monthly Adjustment Amount (IIRMA). It is sent by the Social Security Administration (SSA) and lets a person know how much that they will pay in...
Using the Veterans Aid & Attendance Pension Benefit for care
Veterans and the surviving spouses of veterans in Ohio may be eligible for a little-known benefit from the Department of Veteran Affairs. This program offers monthly benefits to help to pay for long-term care when people grow older and need help. The Veterans Aid...
What people get wrong about legacy planning
Ohio residents may believe that legacy planning is something that only a famous person would do. However, almost anyone could have a life's work or story to share. This is true whether a person is a writer, teacher or anyone else who has accomplished something....
Options for transferring assets upon death
Ohio residents may want to skip probate as it can be a long and expensive process. However, it may be avoided by creating a joint tenancy arrangement, which can allow an asset to pass solely to a survivor. This may be used on assets such as an investment or bank...
Changing an estate plan during divorce
It is important for people in Ohio who are getting a divorce to keep their estate plans in mind. It may be necessary to make changes as soon as possible in order to ensure that their wishes are carried out. Otherwise, if a person dies unexpectedly, a spouse or...
How will you avoid the same old estate planning mistakes?
It doesn't matter if you are going through the estate planning process for the first time or have been down this path before, nothing changes the fact that you need to avoid any and every mistake. While this sounds simple enough, it can be a challenge to get on the...
Distributing personal property not included in a will
When an Ohio resident dies, there is likely to be property that family members must decide how to divide. There might not be a will, or there might be items of personal property that is not mentioned in the will. Heirs may want to get an appraisal of property. This...
