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March 2017 Archives

Points to remember in an estate plan

There are several aspects of an estate plan that Ohio residents may overlook. For example, in addition to a primary beneficiary, testators should name alternate beneficiaries. This is not just in case of the death of the primary beneficiary but also in the event that the beneficiary is a minor or is unable to manage their assets.

Using trusts to avoid probate

The probate process is something most Ohio residents would rather avoid. It is a lengthy legal procedure that ensures assets are disbursed according to a deceased person's wishes. Probate often involves high legal fees that can be avoided in part or in full by keeping the assets out of probate. The good news is trusts can be created to keep almost any kind of asset from falling victim to probate losses.

Important things to keep in mind regarding estate planning

While it may seem to be a rather unpleasant task, having an effective estate plan can relieve surviving family members from huge troubles, including the estate having to go through months or years of probate. By taking a few steps, Ohio residents may be able to avoid this scenario from happening to their families after they die.

How to properly settle an estate

There are several steps that Ohio residents must take if they are to administer an estate or trust. To properly administer the estate, they must determine if the estate needs to go through the probate process. If so, they may need to wait until the court appoints them as the personal representative of the estate.

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