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December 2017 Archives

Turning assets into a legacy

Some Ohio residents who are creating an estate plan might just think of it in terms of leaving assets for family members. However, estate planning can be approached as legacy planning, and the ideas that underpin this are old ones. One 15th century play involves a character who learns he can only take knowledge and good deeds with him after death. These are essentially what a person leaves behind for family and friends.

How to deal with digital assets in an estate plan

As one of the states that have adopted the Uniform Fiduciary Access to Digital Assets Act, Revised (RUFADAA), Ohio offers protections for fiduciaries that allow them to access a dead person's digital assets. In the past, a fiduciary had access to a person's financial and personal documents after that person's death, but the issue of digital access is more complicated.

The benefits of a charitable trust

When going through the estate planning process, Ohio residents often consider charitable giving. The concept is beneficial for several reasons. First, it is a morally benevolent thing to do. In addition, for those with larger estates, the charitable deduction can help descendants save on estate taxes. For those considering charitable giving as a part of their plan, a charitable trust may be a wise option.

Difficulties with obtaining venture capital

Ohio entrepreneurs may have trouble with finding venture capital for their startup businesses. Aspiring business owners may face several limitations when they are searching for capital funding. Fortunately, there are alternatives that people can use to get their businesses off the ground.

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