Kathryn T. Joseph & Associates, Inc.

September 2017 Archives

Estate planning options for philanthropists

Various options are available for people who want to be involved in what happens with their assets before and after they die. Some people create trusts to define how their family members spend their money. Others divide their assets between loved ones and the charities they support during their lifetime. Ohio residents who value charitable giving may benefit from working with professionals to set up a plan that saves them money while also helping them achieve their goals.

What are the powers of a guardian?

Barring a surprise, fatal accident, almost all of us become helpless and unable to care for ourselves at some point in life. If your parents have become too elderly, too ill or too mentally unsound to take care of themselves, you may be facing this reality right now.

Estate plan approaches for transferring IRA funds

Ohio residents who are planning their estates need to make decisions about how to distribute all of their assets, including individual retirement accounts. These tax-protected savings accounts allow owners to designate beneficiaries. The beneficiary designation on the IRA cannot be overturned by designations in other estate plan documents, like a will. Account holders have multiple options for how to disburse funds after death, and other elements of the estate plan, like a trust, could support the goals of benefactors.

Risk mitigation important consideration for trustees

An increasingly complex legal and financial environment has developed in Ohio and elsewhere as a large multi-generational wealth transfer has begun. One market intelligence firm estimates that the next three decades will oversee a wealth transfer of $16 trillion. With more estates holding substantial assets, the potential risks of legal problems are rising. New forms of trusts have emerged, and the people tasked with administering them should fully consider their fiduciary responsibilities and personal liabilities.

How to choose a trustee

Ohio residents who want to establish trusts as a part of their estate plans may wonder how they should choose the trustee. It is important to consider who to choose to serve as a trustee carefully in order to make certain that the trust will be administered in the best interests of the beneficiaries.

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

Toll Free: 888-335-6650
Phone: 216-245-0504
Fax: 216-765-8817
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