Every adult should have a will. Not only does a properly-drafted will ensure that your last wishes are respected, but it will also reduce the risk that your loved ones end up locked in a dispute. Your will should always be updated to reflect your current needs and desires. In some cases, you may even… Read more »
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Do Not Die Owning a Car Unless . . .
I received yet another call today from the daughter of a client for whom I drafted a trust. The daughter had an all-too-common question: Dad owned a car at his death. His daughter’s question was, “How do I transfer the car to my sister?” I asked if her father had the car titled in his… Read more »
How Often Should My Estate Plan Be Reviewed?
An estate plan helps to ensure you and your family are ready for the future. Every adult should have a personalized estate plan in place. Of course, life brings change. The estate plan you set up ten years ago may no longer be effective. This raises an important question: When should I have my estate… Read more »
No Good Deed Goes Unpunished
A familiar scenario: Old Aunt Rose is a widow, and her two children live in L.A. and don’t seem to care about her. Aunt Rose is having more and more trouble with the business of daily life—writing checks to pay her bills, driving to the doctor’s office, driving to the grocery store, cleaning the house,… Read more »
Does A New Will Cancel An Old Will?
A will is a core aspect of a comprehensive estate plan. Of course, a will is not always a static document. Estate planning needs change over time — and your will may need to be revised or even replaced. This raises an important question: Does a new will simply cancel out the old one? The… Read more »
How Often You Should Review Your Estate Plan?
Broadly defined, an estate plan is the process of preparing legal and financial affairs to ensure that you and your family are fully protected. Estate planning is not a static process. An estate plan should be reviewed and revised on a regular basis to ensure that it is fully updated to reflect life’s ever-changing circumstances…. Read more »
Why You Need A Business Law Attorney When Forming A New Business
Entrepreneurs put a tremendous amount of effort and resources into their company. Of course, building and growing a successful business is not easy. According to data from Small Business Trends, approximately half of new companies fail within the first five years. Many new businesses do not even make it through the first year. As challenging… Read more »
Protect Your Assets From Long-Term Care Expenses
Asset protection is one of the core objectives in estate planning—and long-term care expenses pose one of the primary threats to your assets. The cost of long-term care in the United States is almost unimaginably high. According to data published by the U.S. Department of Health and Human Services, the average national cost of a… Read more »
What Happens to a Decedent’s Debts?
One of the questions I am asked most often is, “Do I have to pay my deceased loved one’s debts?” In Ohio, there are strict rules about the payment of a decedent’s debts. Decedent’s Probate Estate Rule No. 1: The only place from which a creditor of a decedent can be paid is from the… Read more »
Why Succession Planning Is So Important in Business Continuation
Do you know what would happen to your business if something happened to you or another key decision-maker? If not, it is time to review your business continuity plan — and business succession planning is a critically important part of the continued operation and long-term success of a small or mid-sized company. Here, our Cortland,… Read more »