Blog
Why Is Estate Planning Important For Family Business?
Family businesses hold a unique place in our economy, with entrepreneurial endeavors passed down within families through generations. Your business not only embodies your hard work and significant dedication, but also carries your hopes and dreams for the future of...
Great News for Ohio’s Adoptive Parents
If you finalized an adoption in Ohio since January 1, 2023, you may now apply for money under Ohio’s new Ohio Adoption Grant Program. Applicants are eligible to receive a one-time payment of: $10,000 for a child. This excludes a step-parent. $15,000 for a foster...
SHOULD YOU HAVE A LIVING TRUST?
Tragedy can interfere with life and the good intention of meaning to get around to it. The result…conflict, damage, lawsuits. There are many advantages to having a Living Trust. Privacy, control, tax avoidance. Keeping your financial affairs private by avoiding...
GROWN UP KIDS NEED ESTATE PLANNING TOO!
So now your kid has turned 18. You think they may not need any estate planning because they don’t have any assets, are not married, or do not have any children? Think again! Once kids turn 18, they are considered legal adults and parents may not be able to act on...
What Should Be In A Death Folder?
Talking about death may feel uncomfortable but preparing for the future is important to ensure your estate is handled according to your wishes. In the event of your death, your loved ones will need access to your estate planning documents and other important...
What Do You Mean I’m Not Covered By The Insurance!? The Hidden Danger of Transfer on Death Deeds
A transfer on death (TOD) deed is a common method of transferring real estate. Upon death of the homeowner, the deed instantly transfers the property to the named beneficiary. A recent case brings to light a lurking danger of using TOD deeds, and serves as a...
What is the Difference Between Will and Estate Planning?
What will happen to your belongings after you pass? Who will care for your children? Planning for the future is crucial. That’s where wills, trusts and estate planning come in. A will and other estate planning documents ensure there’s a plan in place for your care,...
“I NEVER KNEW I COULD ADOPT AN ADULT”
A while back, I was contacted by an old client who unfortunately told me he was terminally ill with cancer. Mr. Smith, (as we'll refer to him and obviously this is not his real name), my old client, contacted me to tell me that he wanted to get his Will updated. So we...
The “Do It Yourself” Will
Ahhhh… You think you’re gonna save money by using a do-it-yourself online Will, Trust, Power of Attorney, or just write something up yourself. We love it! Instead of avoiding one lawyer, in many cases it can guarantee work for one, two, or even three lawyers. So, on...
ESTATE PLANNING SCREW-UPS!
I DON’T HAVE MUCH. So what?! You can still decide who gets your stuff! You may not need a complex Trust, but a basic Will can direct where you want assets to go. Who gets the family Bible? Or your mother’s jewelry? Save your loved ones from fighting over who gets...
COMMON MISTAKES AFTER SETTING UP A TRUST
After you set up a Trust, look at asset transfers and beneficiary designations. Failure to do so can preclude maximizing benefits and causing extra costs and inconvenience. Typical Trust Mistakes Include: Asset Transfers: Creating a trust is just the...
Choosing A Guardian For Your Kids! Or, Choosing The Least Worst Person You Trust!
If something happened to you, who raises your kids? If you don’t take care of this, don’t worry . . . the courts will decide. You don’t like this idea? Then, do something about it. Think about who would be the best...
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