A trust is a legal document that outlines the distribution of your assets when you pass or if you cannot make decisions for yourself. When you establish a trust, you appoint a trustee to manage the assets within the trust in your place. Here are five of the many...
Serving the Cleveland Area since 1994
Serving the Cleveland Area since 1994
Estate Planning
Protecting your child’s inheritance with a special needs trust
Parents of children with special needs must take extra care when estate planning and leaving an inheritance. Money given to a child with special needs can make them ineligible for Medicaid or Supplemental Security Income (SSI). By putting the inheritance in a special...
How to pick a power of attorney
Who you name as your power of attorney is a serious decision. This is the person you trust to handle your affairs if you become incapacitated. There are several things to consider when choosing your agent under a POA. Here are three elements to inform your decision....
How do you protect your child’s inheritance with a trust?
As a loving parent, you want to protect your children through careful and deliberate estate planning. However, you also wish to protect your legacy. If you have concerns about your children’s ability to manage your assets after your passing, then you can establish...
Estate planning for Medicaid applicants
Medicaid eligibility is often complicated. Using Medicaid estate planning, long-term care applicants can meet the program's asset limits for eligibility purposes while maintaining legal protection of their assets for their families and loved ones. Medicaid estate...
Choosing the type of POA your loved one needs
Perhaps your widowed mother is beginning to have some trouble keeping her finances up to date and her bills paid on time. She is asking for your help, and you believe the time has come to create a power of attorney (POA) for finances. However, there are two types....
4 primary components of an estate planning checklist
No one wants to think about what happens when their health declines or what their loved ones will do after they die. But planning for these events while you’re still healthy can prevent many unwanted consequences. Making decisions now over how to manage your estate...
Hire a caregiver or do it yourself: caring for an aging parent
For most people, there comes a time when they have to begin taking care of their parents. For some, this may just mean looking out for them by buying them groceries and assisting them with managing their medications. For others, it means living with them and taking...
With a blended family, you must protect your children’s share
You get married and have two children. Then your spouse files for divorce. You split up, wait a few years, and get married again. Your new spouse also has two kids from a previous marriage. This relationship lasts. As you both grow older, you decide to do your estate...
Dividing up your jewelry in your will: What to consider
One of the questions a lot of our older clients struggle with is what to do with their jewelry and watches. Many of these items are beautiful, costly and hold emotional significance for their owners -- so they want their heirs to inherit the pieces. At the same time,...
