Columbus Wills Attorneys

What is a will and why is it important?

A will is a legal document that’s created while planning the future of your estate. It includes instructions for what you would like to happen to your personal belongings after your death, including which assets should go to which people. Your belongings will be distributed during the probate process and having a will in place makes this process go much smoother. A will also allows your heirs to receive these assets more quickly. If you have minor children, you can also use your will to state who will have custody of them upon your death. 

Without a will in place, the court gets to decide what happens to your assets during probate, who can make decisions regarding your estate, and who will have custody over your children. This can place a great deal of stress on your family members and quickly become overwhelming. Planning the future of your estate and preparing a will ahead of time offers peace of mind for you and your family.

Types of wills

A variety of wills are available, and an estate planning attorney at Taneff Law can help you decide which is best for you. A simple will may be a good option if you don’t have a large estate and only a few assets will need to be distributed during probate. A simple will lets you choose who receives which of your belongings and allows you to name a guardian for your children. A testamentary trust or pour-over will allows you to place assets in a trust to be given to a beneficiary at a later date. For example, if you want to wait until a minor child reaches a specific age before they can receive their inheritance, a pour-over will and testamentary trust will allows you to do this. A joint will allows two or more people (“testators”) to sign the will as separate wills for each person. However, it’s important to note that a joint will can’t be changed after the death of one of the testators. A living will states which medical treatments you do and don’t want if you become incapacitated. It also lets you choose a person to be in charge of making medical decisions for you.

While these are the main types of wills, other options include a pour-over will, deathbed will, nuncupative will, holographic will, and online will. Discussing your options with a Columbus attorney will help you understand what each type of will achieves and help you feel confident that you’re choosing the right will for your specific circumstances.

Will vs trust

A will sets forth a plan for distributing your assets after your death. This distribution occurs during probate, a process that is overseen by the court. With a will, you can decide what happens to your assets and who will be responsible for managing their distribution.

A trust is a legal agreement in which you (the trustor) allow another person (the trustee) to hold onto certain assets until a specified time, at which the assets are given to a third party (the beneficiary). The trustee protects these assets until they’re given to the beneficiary based on your chosen timeline. This is helpful if you want to wait until the beneficiary is mature enough or capable enough to responsibly manage the assets they’re inheriting. A trust can also protect assets from creditors and may avoid probate and taxes. An attorney knowledgeable in estate planning and probate law can help you decide which of these documents you need.

Scenarios: Divorce, probate, and changes in healthcare

A variety of wills are available, and an estate planning attorney at Taneff Law can help you decide which is best for you. A simple will may be a good option if you don’t have a large estate and only a few assets will need to be distributed during probate. A simple will lets you choose who receives which of your belongings and allows you to name a guardian for your children. A testamentary trust or pour-over will allows you to place assets in a trust to be given to a beneficiary at a later date. For example, if you want to wait until a minor child reaches a specific age before they can receive their inheritance, a pour-over will and testamentary trust will allows you to do this. A joint will allows two or more people (“testators”) to sign the will as separate wills for each person. However, it’s important to note that a joint will can’t be changed after the death of one of the testators. A living will states which medical treatments you do and don’t want if you become incapacitated. It also lets you choose a person to be in charge of making medical decisions for you.

While these are the main types of wills, other options include a pour-over will, deathbed will, nuncupative will, holographic will, and online will. Discussing your options with a Columbus attorney will help you understand what each type of will achieves and help you feel confident that you’re choosing the right will for your specific circumstances.

How to prepare a will with estate planning attorneys

When planning and creating a will, it’s helpful to have guidance from an experienced estate planning lawyer. This collaborative effort helps ensure you’re making informed decisions and including the right details in your will. At Taneff Law, we’ll help you understand the steps in will preparation, estate planning, and the probate process, discuss your options and different types of wills, answer your questions, and help you prepare your will. No matter the size of your estate, having a will is crucial and will help you feel more at peace about the future of your assets and family. Contact us today to get started.

Review your estate

Before preparing a will, take time to review your estate and make a list of your assets. Your estate includes items like any vehicles you own, your Ohio house and other residential properly, commercial property you own, jewelry and other valuables, items with sentimental value, and more. Also write down your financial assets, such as savings accounts, retirement accounts, and life insurance policies. Make note of whether these assets are jointly owned or solely belong to you. Some items, such as insurance policies that already have beneficiaries listed or accounts that are designated as “transfer on death,” won’t need to be covered by your will. A lawyer can help you determine which assets should be listed in your will.

Consult a Columbus wills attorney

When you need to prepare a will or want to learn more about estate planning in Ohio, you can trust the lawyers at Taneff Law to guide you through the process. Our attorneys are experts in probate law, estate planning, and will preparation so you can expect to receive trustworthy advice and professional service. We serve clients throughout Columbus, Ohio and the surrounding metropolitan areas. Whether you have a large estate or just a few assets, our team can help you create a plan for the future.