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October 2014 Archives

Creating an Ohio special needs trust

A special needs trust is able to provide additional benefits for a child that Medicaid and Supplemental Security Income cannot. It can even do this in a way that does not interfere with the child's government benefits. Depending on how it is set up, it can function when a parent is alive or wait until after the parent's death to begin payouts.

What are the types of guardianships available in Ohio?

In Ohio, the type of guardianship depends on the situation. With a limited guardian, the probate court limits either the purpose or length of time, of the guardian's powers. In cases where a mentally capable person requests that the court appoint somebody to exercise specific authorities due to physical incapacitation, the court may appoint the requested person as the incapacitated person's conservator. These are very similar, and the person retains any authorities that the court did not appoint to the guardian or conservator.

Trustees subject to duties imposed by statute

As part of establishing a valid trust in Ohio, the grantor must appoint a trustee, whose duties and powers have been codified by statute. Generally, the trustee must administer the trust according to its terms, in good faith and in line with the beneficiaries' interests.

What documents do I need in an estate plan?

Although most people don't like to think about death, especially their own, everyone does eventually pass on. At the time of death, material possessions mean very little to an individual, however, these assets and belongings often mean a lot to loved ones left behind. Thinking this way about estate planning, often encourages an individual to start the estate planning process. The following are some basic components that every individual should consider including in an estate plan.

The prenup v. estate plan conundrum can be solved

Estate planning is already a very complex area of law, but imagine the following scenario. A married couple signed a prenuptial agreement before they got married, and they have lived happily together for many years. Now that they are getting older, they are getting more involved in sculpting their estate plans. As a result, they are thinking about a variety of issues and they want them to be addressed in wills, through trusts, and various other elements of the ultimate estate plan.

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