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We encourage people who don't have long term care insurance to develop a game plan years in advance for paying for long term care, a very costly expense that is not covered by Medicare or private health insurance.  This type of planning often involves transferring specific assets out of the name of the person who will be receiving the long term care so that, by the time that the care is needed, the recipient will be eligible for Medicaid to cover the costs of the care.

One of the most frequent questions that we get asked at our office is whether or not a surviving spouse or beneficiaries are personally responsible for paying the outstanding debts of a decedent after his or her death.

Estate Planning, in simple terms, is the legal process that takes care of yourself and your property, both during your life and after your death. Estate planning is not synonymous with wealth planning.  A common misconception is that you have to have a lot of money in order to do estate planning, an area of law that requires an intricate knowledge of the probate, tax, and trust code, and how they all work together.

Although Ohio law does not limit the age of a Power of Attorney (POA), financial
institutions often enforce their own rules about this document.

Unfortunately, because Ohio has no law requiring any business to accept a Power 
of Attorney, some banks, financial institutions, and real estate closing agents 
may refuse to accept a Power of Attorney due to its age.