Kathryn T. Joseph & Associates, Inc.

wills Archives

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 an infamous part of the history of Congresswoman Kristi Noem. Despite the Representative's claims, a close examination of her story and documents points to poor estate planning rather than unfair tax laws as the culprit. The lesson of the Noem family can serve as a memorable lesson for all taxpayers.

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. Therefore, creating a legacy plan is not necessarily an egotistical thing to do.

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 account, and it may override provisions put in a will or other estate plan documents.

Wills aren't just for the wealthy

Many Ohio residents believe that they don't need a will. This is often because they have few, if any, assets and assume that there is no need to designate what happens to their money and belongings after they die. This is untrue.

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.

Why self-prepared wills can be a problem

Many Ohio residents become concerned about estate planning after they have children, experience a health scare or learn that a friend or family member has passed away. In some cases, these individuals may be tempted to make use of boilerplate wills and other estate planning forms found online.

Strange final requests and estate planning

One of Ohio's most interesting residents left behind an iconic method of food packaging along with a very unusual final request on his will. The inventor of the famous and tubular Pringles can of potato chips was 89 years old when he passed away in Cincinnati. In 2008, his children learned that the late chemist, who was known for his lively sense of humor, wanted to be buried inside a Pringles can.

Solving inheritance issues for minors

Going it alone is always an option for Cleveland parents looking to create a will. However, there are a number of errors that can confound the efforts of testators and subject the estate to costly legal challenges and asset losses due to taxes. One deals with minor children.

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.

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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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