Some people in Ohio who are creating an estate plan might want to consider working with professionals on that plan. This team of professionals may include an attorney, an accountant and a financial planner. One financial expert says that many of the clients he sees...
Estate Planning
A pour-over will can be an important backup
When it comes to estate planning, a variety of strategies someone in Ohio could use to protect his or her assets. Many people develop an estate plan based on trusts; by creating trusts, people can have more control over how those assets are used as well as present...
The need for estate plans
Ohio residents can use an estate plan to ensure that their wishes regarding how their legacy is handled are enforced. Estate planning can be used to protect and manage one's legacy while reducing the tax burden of the state. It is important that everyone who...
How to create the proper estate plan
In many cases, Ohio estate owners want their assets to last for as long as possible. This could mean that the wealth lives on for generations after the individual who acquired it passes away. However, not all fortunes will be used properly by subsequent generations....
Get an estate plan in order with step-by-step goals
Financial advisers recommend that people in Ohio set up an estate plan based on four important elements. They should have a will, financial power of attorney, healthcare power of attorney and advance healthcare directive. These basic documents could help prevent...
The importance of naming the right trustee
A trust may serve a number of different purposes for an Ohio resident. It may be used to allow assets to increase in value while deferring taxes. It may also be used to allow the grantor to specify conditions for distribution such as the beneficiary reaching a certain...
How to get a copy of a deceased person’s will
When a parent dies in Ohio, a child could be entitled to a portion of the deceased's estate. This is true even if the parent dies intestate, or without a will. If a house or other property was put into a child's name, that generally belongs to the child regardless of...
The probate process and asset distribution
Many people in Ohio thinking about the steps needed to care appropriately for their family and their assets after death may wonder what exactly happens during the probate process. Supervised by a court, probate allows a last will and testament to be officially...
Creating an estate planning checklist
Ohio residents can use a thorough checklist to ensure that their estate plans are organized and include all of the documents they need. This will be helpful for surviving loved ones who may have to handle the estate. A will is an important part of an estate plan....
Trusts can be altered to reflect changing circumstances
Trusts can serve a valuable purpose for people in Ohio who want to manage their estates in order to avoid probate and preserve the maximum value of their beneficiaries' inheritances. However, over time, the intentions and desires of the creator of a trust can change....