Estate planning involves making decisions about what happens to your assets after you pass away and ensuring your loved ones are cared for. You can begin this process by taking manageable steps, which will make it less overwhelming. Assess your assets The first step...
Estate planning is important for everyone, but it has some differences for unmarried couples. Unmarried couples must take extra steps to protect each other because marriage comes with automatic legal rights. This blog post will explain how estate planning works...
Divorce changes many aspects of life, including how to manage and distribute assets after death. A well-prepared estate plan protects financial interests, but divorce requires significant updates. Without adjustments, an ex-spouse could unintentionally remain a...
A charitable remainder trust (CRT) allows you to support a cause while receiving financial benefits. This estate planning tool provides income, reduces taxes, and ensures charitable giving. Individuals can use CRTs to enhance their financial and philanthropic goals....
A revocable living trust can play a significant role in an estate plan, offering flexibility and control over assets during a person’s lifetime and after their death. Understanding its advantages and limitations helps determine if it aligns with your estate planning...
A Spousal Lifetime Access Trust (SLAT) is an estate planning tool that helps married couples transfer wealth while maintaining some access to the funds. SLATs have grown in popularity, especially with potential changes to estate tax exemptions on the horizon....
Planning for pets' future care can be just as important as planning for family members. When an owner passes away, a pet trust can offer a reliable solution to ensure pets receive proper care and attention. Creating a pet trust allows an owner to set aside funds and...
Estate planning is important for any family, but it becomes especially beneficial in blended families. Multi-generational planning takes into account both immediate heirs and future generations, which ensures everyone gets taken care of fairly. Understanding the needs...
Planning your estate includes considering all your assets, including vehicles. In Ohio, a Transfer on Death (TOD) designation can help manage the transfer of vehicle ownership upon death. Understanding this type of designation can help you make informed decisions...
Planning for potential future incapacity or disability is an essential aspect of a comprehensive estate plan. Taking proactive steps can ensure that the execution of your estate plan is according to your preferences. Appointing a durable power of attorney A durable...
