Outstanding debts still have to be paid during estate administration. This is a task that is often handled by the estate administrator. These debts will look different from one case to the next. Many people have credit card debt, for example, or outstanding car loans...
Many people delay estate planning because they believe they have plenty of time or assume their family will automatically inherit everything. Yet, if you die without an estate plan in Ohio, state law, not your personal wishes, determines who receives your property....
One of the challenges that can stymie Ohio residents who are doing or updating their estate plans is how to protect future beneficiaries from the problems sudden wealth can present to people. Ideally, your proposed beneficiaries will be well-equipped to manage and use...
You have a lot of decisions to make when you’re creating your estate plan. Some of these center around what will happen to your assets, but there are others. A key decision is who will serve as the administrator of your estate. The estate administrator (often known as...
Creating an estate plan is one option that you have for letting your loved ones know your wishes for your property, and in case you become incapacitated. When it comes to your property, having everything written out as comprehensively as possible is beneficial. By...
Estate plans typically focus on transferring financial assets, real estate and personal belongings to family members or other designated individuals. Pets, despite the meaningful role they play in a household, are often left out of these documents. Knowing what...
If one of your goals this year is to finally put an estate plan in place, you’re likely thinking about who, beyond your family, you want to leave some assets. If you’re a senior living on your own, you may have a caregiver who visits regularly to help you out with...
When you think about estate planning, your physical assets like homes, bank accounts, investment accounts and other personal property may come to mind. But those aren’t the only assets that you need to consider when you’re creating an estate plan. You also have to...
Creating an estate plan is an important step toward protecting your family in the event of your death or incapacitation. But it’s not something you should put in a safe place and forget about. Life evolves, laws change and your financial situation can shift over time....
You rent your home, keep limited savings and carry mostly debt. Should you still consider estate planning? Estate planning can feel like something meant for people with assets to protect or pass down, which may lead people to delay or dismiss it altogether. In...
