Solomon, Steiner & Peck, Ltd.
Contact Us for A Consultation:
216-245-0185 / 866-642-0932

December 2015 Archives

Estate planning for future health needs in Ohio

When an individual comes up with a retirement plan, he or she is concerned with risks such as how to invest, the risk of such investments and how they hold their value in the long run. One other risk that needs to be considered is the risk of a spending shock. Therefore, a retirement plan should consider the need to be prepared for long-term care as a person gets older.

Keep trusts updated as financial outlook, taxes change

People in Ohio who have used trusts as part of their estate planning may want to review those documents. There have been a number of changes in federal tax laws in the past several years that might make those trusts unnecessary or necessitate a change in them. One big change is in how trusts are taxed. For 2016, a trust with an adjusted gross income above $12,300 will be taxed at the highest marginal rate. As a result, it may be more cost effective to have either the beneficiary or the grantor pay the tax on income since the AGI threshold is significantly higher for individuals and married couples filing joint returns.

Totten trusts instead of a will

Some people in Ohio who are making their estate plans may want to look into a Totten trust. This type of trust might be useful for someone who wishes to avoid making a will and wants to keep financial arrangements private from others.

Trusts for animals can provide for a pet's future

When Ohio residents plan for the future of loved ones, pets may be overlooked in the considerations. It is possible for trusts to be established for pets, and experts say that pet trusts can eliminate problems that sometimes arise when pets are left without an owner due to death.

2005 BBB Torch Award Recipient Recipients of the 2005 BBB Torch Award Honoring Business of Integrity

  • ASNP
  • CMBA Green Certified 2107-19
  • member of the national eldercare matters Alliance
  • Golden opportunities

We are here to help. Contact our attorneys today.   

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Independence Office
6100 Oaktree Blvd.
Suite #200 - Park Centre 1
Independence, OH 44131

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Mayfield Heights Office
6105 Parkland Boulevard
Suite 140
Mayfield Heights, OH 44124

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Westlake Office
159 Crocker Park Boulevard
4th Floor
Westlake, OH 44145

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions

Mentor Office
5966 Heisley Road
Ste 201
Mentor, OH 44060

Toll Free: 866-642-0932
Phone: 216-245-0185
Fax: 216-595-2787
Map & Directions