Asset protection is an important part of estate planning. A well-constructed estate plan can help you protect your assets from creditor claims and other lawsuits. Notably, annuities and other retirement accounts are among the most effective creditor protection tools available. In this article, our Cortland estate planning attorney explains the key things to know about… Read more »
For most people, the primary residence is the single largest asset that they own. According to a recent report from the National Association of Home Builders (NAHB), homeownership is a key component of household wealth in the United States. A primary residence makes nearly half of the total wealth owned by the median homeowner in… Read more »
Every adult in Ohio should have a will. When a person passes away, their will largely controls what happens to their property and assets. Without a will, surviving family members can be stuck trying to work out a complicated, unclear situation. At the same time, probate disputes can arise even if there is a will…. Read more »
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 »
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 »
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 »
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 »
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 »
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 »
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 »