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Some people in Ohio might think that because they are single or have no children, an estate plan is not necessary. However, complications for unmarried people or those without children still occur. Generally, state laws will pass decedents' assets onto their spouses...
Close to 60 percent of American adults have prepared no legal documents to specify what should happen with their assets if they die. According to a study, just 42 percent of themhave an estate planning document completed. For individuals who have minor children, only...
Ohio parents often desire to pass wealth to the next generation. Their intentions, however, might be frustrated if a married heir gets a divorce, taxes run high, real estate expenses become onerous, creditors make claims or young heirs act irresponsibly. Careful...
Ohio residents may want to consider how Donald Trump's election and the Republican majorities in both the House and the Senate might affect their estate plans. Understanding the proposed changes and incorporating clauses in their plans might help them to avoid some...
Farm owning families in Ohio often take a great deal of pride in the land they own and the work they do. In many cases, farmers would like to keep their land in the family and wish to pass it down to their children. While this is an understandable desire, there are...
Ohio residents may need to take special steps to ensure that their beneficiaries receive properties like homes if these individuals haven't applied for permanent residency. Experts say that although undocumented immigrants can inherit properties and own homes, the...
Ohio residents may be aware that they need an estate plan. However, there may be many reasons why individuals don't get around to actually making one. Common reasons include not having time to create the plan or letting the emotional side of estate planning stop them...
A 2011 survey found that 60 percent of Americans stated that they did not have a will. Ohio residents who are unsure about whether such a document is necessary may want to consider how one may be beneficial. Death can occur unexpectedly and sooner than many...
One important aspect of estate planning for Ohio residents may be creating a power of attorney. This allows them to appoint someone to manage their finances in the event they become incapacitated due to an accident, illness or a condition like dementia. However, there...
Living trusts are designed to help you determine how and when your business ownership interests will be divided in the event of your death, much like wills do for your personal assets. The trust may also determine a line of succession for your business and dictate...