Wealth management and asset protection are important aspects of estate planning. With a well-crafted estate plan, you can put yourself and your family in the best position to preserve your hard-earned life savings. Estate planning must be personalized—the asset protection strategy that works for someone else may not be well-suited for your specific situation. In… Read more »
Posts Tagged: estate planning
How to Use Estate Planning to Protect Your Home
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 »
Should You Keep Old Wills or Destroy Them?
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 »
How Often Should My Estate Plan Be Reviewed?
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 »
Does A New Will Cancel An Old Will?
A will is a core aspect of a comprehensive estate plan. Of course, a will is not always a static document. Estate planning needs change over time — and your will may need to be revised or even replaced. This raises an important question: Does a new will simply cancel out the old one? The… Read more »
How Often You Should Review Your Estate Plan
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 »
What Happens to a Decedent’s Debts?
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 »