An Ohio resident's estate plan might be improved with a power of attorney. A power of attorney can be durable or nondurable, but a durable power of attorney may be best for the purposes of an estate plan because it allows a person to step in and make financial decisions in the event the principal becomes incapacitated. A nondurable power of attorney is no longer valid if the principal becomes incapacitated.
Ohio residents trying to plan their estate without the assistance of an attorney may wish to reconsider that decision. While the use of DIY legal documents has become popular for wills, trusts and powers of attorney, it also comes with risks.
Many Ohio residents aren't concerned over family members or friends granting their final requests. However, some may want some guarantee that a final wish will be carried out even if it is unusual. For instance, there is a story involving the inventor of the Pringles can who asked that his ashes be placed in such a can before being buried.
Entrepreneurs in Ohio who are interested in obtaining a loan so that they can purchase a property might have to face higher standards to get approved. The Federal Reserve reported that commercial real estate loans were more tightly restricted in the second quarter of the fiscal year. Nonetheless, owners who are interested in business loans will find that the standards are the same and have not become more restrictive.