If an Ohio resident owes back child support, it may result in a lien being placed on a future inheritance. Typically, only a back tax debt would take priority over a lien resulting from a child support judgment. Therefore, an executor could be forced to liquidate assets such as a home and make a payment to the party overseeing the child support payments. This is generally true even if multiple names are on the title to such an asset.
Ideally, Ohio residents will begin the process of estate planning as soon as possible. An estate is made up of anything that a person owns either jointly or on his or her own. By creating an estate plan while in good health, it may make it easier to obviate the need for a conservatorship or guardianship. Anyone 18 or older may benefit from starting the estate plan process.
You may have done everything right during the hiring process: reviewed resumes, checked references, interviewed thoroughly and so on. You put together a fabulous team for your business. Yet now you face some problems with your employees, whether it be harassment among co-workers, continual tardiness or repetitive errors in certain tasks.
People in Ohio who created their estate plans with the intention of avoiding estate tax might want to take another look at that plan. At the end of 2017, Congress passed a tax bill that raised the estate tax to more than $22 million for married couples and more than $11 million for individuals. This means that for some people, the best plan might simply be to leave assets to the surviving spouse. However, there still might be reasons that people whose estates fall under the exemption amount might want to use a bypass trust or other tools.
Plenty of working professionals, whether in Ohio or Silicon Valley, dream of having their own startup and the autonomy that comes with it. Although they feel inspired when they hear stories of small startups that later grew on to be thriving businesses, such as Facebook, Google and Tesla, they are also very aware of how integral gaining funding is for the success of their business.