Without a will or estate plan, everyone’s estate will go through probate. Even people with a plan in place may have some assets that still need to go through the probate system, yet many people do not fully understand what probate is or how the process works. Here are some common questions and answers regarding… Read more »
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How to Use a Quiet Trust
One of the biggest concerns in estate planning is how to effectively and responsibly pass on wealth to the next generation. Many people are concerned that if their loved ones know what kind of wealth they will be inheriting it would discourage them from being successful on their own. As a result, many states… Read more »
New Trend: Probate-free Real Estate Deeds
Right now, over half of the states across the country allow for homeowners to transfer property with a simple real estate deed that helps avoid the probate process. Called a beneficiary or transfer on death deed, more and more people are working with their estate planning attorneys to use these deeds in lieu of probate. With… Read more »
Ohio Ranks Near Bottom on Long-Term Care
In a report released by the AARP last year, Ohio ranks 44th among all states when it comes to meeting the long-term healthcare needs of its elderly and disabled citizens. The report ranked the states on a variety of factors and showed where Ohio is lacking in terms of its long-term care as well as… Read more »
Case Shows Importance of Proper Special Needs Trust
A recent court case in South Dakota reinforces the idea that a special needs trust must be created in the proper way in order to avoid issues regarding Social Security benefits. Although the parents of a disabled child meant well, the technicalities of special needs trust creation prevented them from providing the maximum benefits… Read more »
What Does It Mean To Have Power of Attorney?
It’s a term you’ll hear both lawyers and laypeople refer to on a regular basis: the power of attorney. But there can also be a fair amount of confusion over just what this legal term of art actually means. Simply put, a power of attorney is a written document giving permission by the “Principal” for… Read more »
Proper Estate Planning Can Help Ease Financial Fears
When it comes to planning a financial future, the cost of health care tops the list of concerns Americans fear most as they try to plan for retirement. That’s the conclusion of a survey undertaken early this year by Bankrate.com. The survey asked a representative sample of adults living in the continental United States, “What… Read more »
The Law and The Contested Estate
Court fights can get ugly quickly, and some of the most emotionally charged legal battles involve disagreements over wills. The disputes wind up pitting one family member against another in the distribution of money and property that a loved one has left behind. It’s sad, because one of the reasons for having a will in… Read more »
Wills and Will Substitutes in Estate Planning
Legal journals and law school textbooks are filled with horror stories covering nearly every facet of law. Some of those stories involve probate cases and the lengths to which some families are forced to go in order to settle a loved one’s probate estate. Two Types of Assets You’ll Leave Behind When a person… Read more »
Live-ins and Rights at Death
If I Love Him/Her, What Difference Does Marriage Make? In short, plenty. If a person chooses to live with another without benefit of marriage, each forfeits certain rights with respect to the partner both during his/her life and at his /her death. During life, a partner does not have the right to be appointed his/her… Read more »