Wills and Will Substitutes in Estate Planning

Posted by & filed under 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

Posted by & filed under Estate Planning.

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 »

Estate Planning When You’re Single

Posted by & filed under Estate Planning.

  In recent years, greater divorce rates among older adults means that more elderly Ohio residents will need to think about estate planning without a spouse. Indeed, data from the Bureau of Labor Statistics suggests that more than 50 percent of American adults are single. What should single people know when it comes to estate… Read more »

Important Tips for Writing A Will

Posted by & filed under Estate Planning.

None of us likes to think about death, but it’s extremely important for every Ohio resident to make a will. Even if you don’t own a significant amount of property, it’s likely that you want to ensure that certain members of your family inherit particular items that are currently in your possession. Whether you’re concerned about… Read more »

Estate Planning and the Common Law Marriage in Ohio

Posted by & filed under Estate Planning.

  It’s a scenario that’s become increasingly common around the country: A man and woman who’ve been dating for awhile decide to move in together. They share a household, routinely celebrate holidays with one another’s family, and may have purchased a car or other property together.   In other words, their relationship has taken on… Read more »

Federal Government Raises Limit on Tax-Free Lifetime Gifts

Posted by & filed under Estate Planning.

  Announced recently, the Internal Revenue Service raised the limit on tax-free transfers during life or at death. Starting in 2015, the limit, known also as the basic exclusion, will increase from $5.34 million this year to $5.43 million next year. However, the IRS also stated in the same announcement that the annual giving exclusion… Read more »