Medina, Ohio Law Blog
Mistakes some businesses make when downsizing
In the business world, downsizing is often code for "layoffs." No one enjoys having to lay off employees, and the unpleasantness of the task can sometimes cause business personnel to act out of character. For instance, a normally friendly boss might be rigid, abrupt...
Preparation could lead to loan approval for small businesses
Small business owners in Ohio likely know that they will face considerable scrutiny when approaching a bank or credit union for a small business loan. Preparing essential documents prior to meeting with loan officers could aid business people who need financing....
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....
Tips for downsizing your business successfully
Usually, business owners focus on how to grow and expand their companies. While success is the ultimate goal, growth for the sake of growth is not always beneficial. This truth becomes more apparent during a downturn in the economy. Whether or not a recession is going...
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...
Retirement planning for business owners
For family businesses in Ohio that remain in the hands of their founders, it can be particularly important to consider succession planning. For example, over 12 million businesses across the country are privately owned by members of the baby boom generation, some of...
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...