5 Mistakes to Avoid in Estate Planning

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Every person has at least something of value – a home, a car, or monetary assets – which they would like to pass on to their loved ones after they pass away. Having an estate plan in place can help smooth the process of transferring the assets to the beneficiaries. Not only can it help… Read more »

How Careful Estate Planning Can Reduce the Likelihood of an Estate Challenge

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Most individuals who create estate plans (especially more elaborate and personalized estate plans) do so because they do not want their heirs and/or beneficiaries to squabble and fight over distribution of assets once they pass. Unfortunately, this goal is not always achieved. In the recent Ohio case Gehrke v. Senkiw, the testator and grantor’s careful… Read more »

The Corporate Veil and How to Protect It

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One of the main benefits of establishing a corporation is the legal protection it affords the owners/shareholders. Because the corporation is its own legal entity, creditors of the corporation are generally not able to seek compensation or damages from the owners personally when the corporation breaches a contract or fails to fulfill its commitments. This… Read more »

How “Do It Yourself” Estate Planning Can Hurt You and Your Heirs

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Introduction Websites and companies like LegalZoom and others promise users the opportunity to tackle their legal needs without having to consult with an attorney and pay an attorney’s allegedly-high fees. Instead, these outfits deliver forms and pleadings to users, who are then responsible for entering the pertinent information into the forms and filing them with… Read more »

Best Reasons to Use a Trust

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Introduction Trusts have become an increasingly-popular estate planning tool, especially for younger individuals. Trusts have been touted as offering many benefits over the traditional will, but some older individuals or those who are committed to doing things in the same manner as their parents and grandparents may be reluctant to jump on board the bandwagon… Read more »

What Should I Do With an Old Will or Trust?

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It is not uncommon for individuals to create multiple wills or trusts over the course of their lifetimes as their situations change. Some testators (creators of wills) and grantors (creators of trusts) wonder what happens – or what should happen – to the will or trust that is being replaced. This can be of concern… Read more »

The Business Judgment Rule

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If you are the director of a corporation with shareholders, your job is all about one concern (basically): Maximizing the profit for the shareholders over the long term. While shareholders may be the true “owners” of a corporation, they employ directors such as yourself to assist in the strategic planning and operation of the business…. Read more »