You may not want to think about what life will be like after you are gone, but doing so will help you have some control over your future. For this reason, it is never too early to consider estate planning. With that said, many Americans do not know where to start. If...
Estate Planning
Important updates to make to your estate plan when you remarry
Regardless of how your old marriage ended, you now have a new person to share your life with. A remarriage opens up a whole new chapter in your life, and brings all sorts of changes with it. While you are busy adjusting to your new family dynamic, don’t forget to...
Irrevocable trusts can help seniors to qualify for Medicaid
The average cost of a private room in a nursing home is more than $8,000 per month, which can be a difficult burden to meet for senior citizens in Ohio and around the country who receive an average of about $1,500 each month in Social Security benefits. Many older...
What are some benefits of advance directives?
While you may not immediately consider it important when you are in good health, planning for end-of-life scenarios can help you in a serious medical situation. Advance directives allow medical professionals to know what your wishes are if you are in a coma or...
How does a special needs trust work?
If you have an adult child who has a disability, you may be thinking about using your estate plan to improve his or her quality of life after your death. You must be careful with gifting your child money or other assets, though, as you may inadvertently render him or...
2 important estate planning steps for new parents
Major life changes often warrant you taking a fresh look at your Ohio estate plan, and having your first child is one such life change. Once you become a parent, it becomes more important than ever that you have plans in place for your child in the event that...
Revocable vs. irrevocable trusts: which is right for you?
For Ohio residents who have assets such as a home, automobile, bank accounts and collectibles, having a will is critical for ensuring distribution to beneficiaries after they pass away. However, if you can make a list of people to share your property upon your death,...
The role of an executor is important
If someone asks you to be the executor of his or her estate, you may want to take some time to think about what the role entails. Depending on the size and complexity of the estate, being an executor can take a lot of work and time. Understanding what responsibilities...
3 situations that cue a will change
You made a considerable investment of both time and resources when you created a will for your loved ones to follow. That could make you feel like you do not need to change it. That effort, that investment: These are the precise reasons why you should consider...
What can I do to assist my executor?
After you die, there is nothing more you can do to help your executor close out your estate, so you should think of anything you can put into place while you are alive to help your executor. With all the assets your estate may contain and all the arrangements your...