April 2015 Archives

Planning for incapacity

While many people understand the necessity of estate planning, many also focus solely on what will happen when they die rather than making provisions for possible disability. The type of planning concerning making decisions for someone who is incapable of handling his or her own affairs is called "incompetency planning," and it should be an integral part of any estate plan.

The importance of having a will

Ohio residents might be interested in learning more about wills. An estate plan can benefit people at all economic levels, because it ensures that any assets remaining after a person's death will be distributed according to his or her wishes. Without a will, a person's estate may be handled according to applicable jurisdictional rules, which does not guarantee the preferred distribution of assets.

Common estate planning issues in Ohio

Proper estate planning can make it easier and faster for assets to be transferred to heirs. It can also make it easier for the best interests of minor children to be accounted for as well if their parents pass away. One common question is when it is worthwhile to create a will. The answer to this question is that a will should be made when there is a good reason to do so.

Estate planning lessons to learn from the Robin Williams case

Ohio residents may be aware of the estate battle that is being waged by Robin Williams' widow and his three adult children. While it is not uncommon to see families fight after an individual passes away, there are steps that can be taken to minimize the odds that such a conflict occurs. An easy way to ensure that assets are not subject to probate court is to title them outside of an estate or designate a beneficiary.

Options for long-term care planning

Many Ohio residents are facing the need of having to consider long term care planning for their loved ones or for themselves. It is better to do this planning ahead of time rather than waiting until it is necessary so that people can take their time and explore their options. This gives them the chance to visit and evaluate facilities for senior care rather than having to rush into a situation that is less ideal due to a health crisis.

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