We are in the business of helping people prepare and plan for the inevitable, so every year we write an article advising our clients about what not to do when it comes to death and disability planning. The mistakes we have seen people make throughout the past 30 years we have been in practice have caused a lot heartache, stress, and money for our clients to correct.
The title of this article is a common misconception that people have about avoiding probate. A person will assume that just because he has been designated as his parent's Agent in his parent's Power of Attorney (POA) that he will have access to his parent's bank account after the parent dies. The person will incorrectly assume that having his name listed on his parent's account will be enough to avoid probate.
Are you getting divorced, obtaining a dissolution, or annulling your marriage? If so, then you should consider reevaluating your estate planning documents as soon as possible.
Ohio Trust Law changed significantly effective January 1, 2007, when the Ohio Trust Code went into effect. Since that date, on numerous occasions, we have reminded our clients via snail mail, email, or in-person of this important date and suggested that serious consideration be made to update any trust that was dated before the Ohio Trust Code went into effect.
Everywhere you turn these days, it seems you hear another advertisement for a company that can help you set up a simple will online, from the comfort of your own home. As an estate planning attorney, it’s pretty common for friends or acquaintances to say to me, “We need to get a will. Can we do it ourselves or do we need to use an attorney?”
- If your spouse died last year or you got divorced, you should update your estate planning documents in order to remove your former spouse's name as a beneficiary, agent, executor, and trustee.
We a pleased to announce that our law firm has been named a 2016 Law Firm 500 Honoree. Earlier this year we were nominated for our growth, operational excellence and commitment to client service. It is an honor to be included as one of the top one-hundred fastest growing law firms in America!
Channel 7 news broadcaster Jim Otte recently interviewed Nancy Roberson on the news special WHIO Reports about wills, powers of attorney, and other estate planning issues. The program contains 30 minutes of valuable advice about estate planning and discusses the topic of being prepared at any age for sudden illness or death. Watch the video here: http://video.daytondailynews.com/WHIO-Reports-Estate-Planning-June-12-2016-B-30993165.
The information in this article is news that was reported last year, but we believe that it bears repeating due to the impact that the legislation has on the hundreds of thousands of people in the military who have children with disabilities. With this legislation passed through the National Defense Authorization Act, a special needs trust can now be put in place to protect a disabled child's benefits from being discontinued due to an inheritance that the child receives from a parent.
We see a lot of dissension in our office among family members who have differing opinions about the type of long term care that mom or dad should receive and how the parent's money should be spent to pay for the care.
Not to "beat a dead horse," but many of the issues that family members fight about could have been resolved if mom and dad had made the decisions in advance by doing their estate planning and developing a long-term care plan years in advance.