Ohio residents may not take their Twitter or other social media accounts seriously. However, it may be a good idea to account for them in an estate plan. If an account is not properly shut down, it could cause unnecessary grief and pain as it continues to exist as a ghost account. For friends and loved ones, it may be embarrassing and awkward to see a deceased person appear as a suggested social media friend or contact.
Divorce is often one of the most difficult experiences a person can endure, and this is doubly true for business owners. If you are facing divorce and worried that the settlement process may dismantle your business, you must make some very difficult choices and act decisively.
Some Ohio residents may have hesitated to create an estate plan because the subject is an uncomfortable one, but it can be a way of making a person's passing less difficult for family members. There are a number of different elements to an estate plan. Wills and trusts can be used to pass assets down to loved ones. A will may also appoint a guardian for minor children.
Most Ohio residents automatically think of a will when it comes time to plan their estates. Wills allow testators to name who they want to receive their property when they pass on, but they are limited in some ways. Upon the death of a testator, beneficiaries will receive their bequests in one distribution. With a trust, people can have a lot more flexibility.
For many Ohio residents, the process of estate planning is too often undertaken with a narrow focus on providing instructions, yet there is an equally great need to focus on the people chosen to carry out those instructions. Estate plans can contain such wide-ranging choices as the naming of a guardian for children, health care and financial powers of attorney in case of incapacity, an executor under a will, and a trustee to manage assets in a trust. Rather than choosing haphazardly, Ohio residents are encouraged to select trusted people whose traits conform to the demands of these roles.
When selling commercial real estate, many people assume they can depend on the services of their buyer's attorney. However, it might it may be wise for sellers to hire their own experienced real estate attorney who can personally assist them with the transaction. Besides preparing important documents, a real estate attorney can be very beneficial to sellers in other ways as well.