Thinking about end-of-life preparations may leave you with some important questions, one of which could be who would make a good executor for your will. Choosing someone with the necessary skills and attitude is important, and knowing what traits to look for can help...
estate planning
What information can you include in your will?
Thinking about where your money and family heirlooms will go after your death may prompt you to wonder what the benefits are of crafting a will. Learning about what you can include in this document can help you to determine what steps to take next. Choosing an...
Reasons for preplanning your funeral
One aspect of estate planning that many avoid is preparing their funeral arrangements. Those who fail to handle this duty are making a huge mistake. Nonetheless, millions pass on without incorporating their wishes into legal documents. Here are some reasons why this...
Should you include sentimental assets in your estate plan?
Many people take the time to develop a comprehensive estate plan that focuses only large, valuable assets. The documents of the plan might center on a family business, vacation properties, a vehicle collection or other tremendously valuable assets. Unfortunately, in...
Managing one’s potential estate tax liability
An Ohio resident embarking on the estate planning process may quickly realize that several potential liabilities await following their deaths. The cost of probate administration along with the need to settle unpaid debts cuts away at the assets one has to pass on to...
Include these 3 components in a simple estate plan
Many adults across Ohio do not yet have estate plans. If you are among them, you may have put it off thinking you do not have enough time or, possibly, enough assets to make it worthwhile. However, an estate plan does more than dictate where your belongings go after...
What estate planning mistakes should you avoid?
When creating your estate plan, it is important to understand that this is a time-consuming process. Many people spend months creating a plan that suits their needs, and the more complex your assets are, the longer it will take. You can help eliminate some of the...
How can you include your art collection into your estate plan?
Creating an estate plan may feel overwhelming at first, especially when you have a lot of assets to consider. When it comes to your estate plan, you need to account for all of your assets, including any collectibles and art. If you have an art collection, Bank of...
Estate planning after your divorce
While you may have had a solid estate plan in place prior to your divorce, the circumstances surrounding your ending marriage may force changes to your long-term plan. Refiguring your plan to accommodate your needs will take time and patience. Proactive planning can...
Important traits needed in an executor
Who should be the executor of your will? There may not be many people quickly raising their hands to volunteer for this time-consuming and often thankless position. This is why you must prepare, research and take careful consideration for this crucial role in estate...