When you die intestate, which means without a will, the state law dictates the distribution of your property. For this reason, it is a good idea for everyone to have an estate plan in place because it lets control remain with you. The Legislative Commission notes that...
As a homeowner, your house should be a critical part of your estate plan. According to AARP, your home is your most valuable financial asset. Determining what happens to it after you pass is not always an easy decision. If you have children, you may consider leaving...
Creating a will determines the distribution of your assets after your death. Many people make their will early on years and forget to update it after a major life event. Failing to update a will could jeopardize how you want your assets divided. The chaos and...
Municipal governments have some freedom to govern without being under the thumb of the state or federal government. Home rule is the concept that the city has a right to operate under its own rules as a separate entity from the other levels of government. This power...
If you feel like you need an estate plan but do not know where to start, you have a lot of company. According to CNBC, only about 33% of all Americans have an estate plan. Many people know the importance of an estate plan, but many put it off for various reasons....
The purpose of Medicaid is to help low-income seniors pay for long-term care and medical care. For this reason, you may only qualify if you meet the stringent financial eligibility requirements. Because the income and asset limits are so low in most states, most...
What is an Executor? An Executor is the legal representative you nominate in your Will to represent your probate estate upon your death. After filing the Will in the Probate Court, the Court officially appoints the Executor. The Executor then gathers the assets that...
How does the probate process begin? When an individual dies, the probate process may be started by any interested person (including creditors), although it is typically the person designated as Executor in the Will, a spouse or close relative of the decedent. What is...
When someone you know names you the executor over his or her Ohio estate, you should expect to have to take on a number of important responsibilities on that individual’s behalf. Serving as an executor requires you to take certain steps, and failing to uphold your...
As an estate executor, you will have the responsibility of dispersing an estate to its heirs. Sometimes the fate of property, like a home, is not clear. The will may not name a beneficiary to receive the residence. It is possible that you will end up selling the...
