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 »
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 »
Going through the loss of a close family member, friend or acquaintance is never easy. For business owners, the loss of a partner can create significant logistical challenges on top of the emotional heartache. Without a proper system in place, the unexpected death of a business partner could undermine the future of the company. It… Read more »
Every adult in Ohio can benefit from drafting a will. As important as it is to have a will, it is not always the most effective estate planning vehicle. In some cases, another tool, such as a revocable trust, is a more efficient way to distribute assets to your heirs. Revocable trusts are governed by… Read more »
In contract law, substantial performance is a term used to describe a type of performance that, while not complete, is still sufficient to fulfill a party’s obligations under the agreement. In other words, the legal doctrine sometimes allows parties to avoid facing a breach of contract claim even though they technically deviated slightly from the… Read more »
Whether it is a dog, a cat, or a more exotic animal, a pet can become a true member of the family. Many people understandably have questions or concerns about what will happen to their beloved pets if they pass away or become incapacitated. You can plan for your pet. Ohio allows people to include… Read more »
Forming a new business is about a lot more than simply filling the right paperwork with the Ohio Secretary of State. One of the most important decisions you must make when creating a new company is choice of entity. A successful company needs the right legal foundation. There are several options available, including sole proprietorships,… Read more »
A will is a core part of virtually every effective estate planning. It is a legal document expressing a person’s last and final wishes, which ensures their desires are carried out. To be legally valid, a will must conform to certain basic characteristics. This raises a question: Is a handwritten will valid in Ohio? The… Read more »
The Uniform Commercial Code (UCC) is a set of universal laws governing most commercial transactions involving the sale of goods in the United States. If you own or operate a business, it is helpful to have a basic understanding of what the UCC is and how it operates in the modern world. In this article,… Read more »
A proper estate plan is about far more than figuring out what happens to your property, assets, and liabilities when you die. An estate plan should be used to ensure you are fully protected in the event you are unable to make your own decisions. A health care directive is often an important part of… Read more »