When someone dies in Ohio, their personal property becomes the property of their estate. Their heirs or chosen beneficiaries can inherit those assets at the end of the probate process. Any debts that they still owe at the time of their passing may become the...
Strategic Guidance For Life’s Next Move
Estate Planning
Have you named your grandchildren as beneficiaries?
Suppose your kids have recently made you a grandparent; your grandchildren most likely hold a special place in your heart. Witnessing their growth, milestones and achievements can bring back memories of when you were raising your children. Naturally, you might want to...
Addressing your parents’ estate before they need eldercare
As your parents age, a conversation about eldercare will likely become somewhat inevitable. It’s a time to help ensure their well-being and navigate senior living and/or support options. But before diving into caregiving logistics, a crucial step often gets...
How to take pressure off of loved ones by planning for death
Talking about mortality makes many people uncomfortable, and that discomfort could contribute to people's procrastination regarding estate planning. This lack of planning could burden their loved ones in the event that they pass away without so much as a will in...
How to talk to your Mom and Dad about estate planning
It’s not easy to watch your parents age, and asking about their estate plans isn't very comfortable to do – but there are some conversations that are important to have if you want to make sure that your parent’s wishes are followed and your family doesn’t fracture...
The importance of creating a trust
Estate planning is an essential part of every person’s financial life and a key part of asset protection. While most people think that estate planning consists only of creating a will and powers of attorney, they often forget that there are other legal tools...
Proper estate planning may also require asset protection planning
When someone dies, their estate influences how everyone remembers them. All of their property must pass to others, and how they arrange that process can impact what people think of them years later. What they leave for the people they love and for charitable causes...
4 times you may need to update your estate plan
When you take the time to create an estate plan, you establish a legacy in the event of your death and put certain legal protections in place for the people who depend on you, including your spouse and children. There are numerous times throughout your life when your...
Is estate planning more important for women?
To start with, estate planning is beneficial for anyone. Both men and women can use estate plans, both married couples and single individuals can use them, and there are always ways that you can set up your plan to accomplish your goals – even when they’re much...
How Ohio Medicaid benefits could eventually cost you everything
Once you reach retirement age, you have the right to Medicare coverage. You can buy supplemental policies that will help you cover additional expenses, like prescription drug costs. Most retired adults get the majority of the support that they need from Medicare, but...