Did you know that a huge benefit of getting a trust is to protect your family's privacy? This reason alone has caused quite a stir with Aretha Franklin's estate because all of Aretha's assets and financial holdings will be made public since she did not have her estate planning in order when she died.
1) If your spouse died this 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!
A recent survey of more than 2,000 people found that 64% of the people surveyed indicated that they don't have wills, according to an article published online by AARP. Many people are superstitious about planning for death. People fear that once they get the ball rolling on estate planning, something bad will happen. Time after time, however, our clients tell us that they experience such a sense of relief after completing their estate planning. The peace of mind far outweighs the fear involved in beginning the estate planning process.
Estate planning and elder law attorneys in Ohio have been on pins and needles the past year to hear the decision about the fate of legislation pertaining to titling a home in the name of a Revocable Living Trust (RLT). The legislation was proposed by the Ohio State Bar Association to fix the problem of counting a house titled in the name of a RLT as a resource that would be included for determining if a person would qualify for Medicaid. This problem was created several years ago by an Ohio appellate court decision.
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.