When someone dies, the executor takes charge of their estate. But what happens in Ohio when the chosen executor fails to do this vital job? This issue affects many families and can delay the settlement of estates across the state. What makes an executor fail their...
Estate Planning
5 life events that call for an estate plan review
Life brings constant changes. With each change and milestone you experience, it's best to review and update your estate plan as necessary. Remember, an effective estate plan reflects your current circumstances and the people in your life. Getting married or divorced...
Can an estate plan become obsolete?
Setting up an estate plan should be prioritized as you age, grow your family or contract an illness. However, some people take planning very seriously and prepare everything even without these significant life events. But what if you are healthy and years have passed...
When is the best time to discuss estate plans with family?
Estate planning is rarely straightforward because it involves confronting death and making tough decisions about your assets. However, discussing these plans with your family can be even more challenging. Still, open communication is essential for a smooth transition...
What if a loved one names me as their will executor?
When a loved one suddenly passes, it can be devastating. On top of the emotional pain that your whole family may be feeling, there is the matter of going through their estate and fulfilling their final wishes. It is possible that they drafted a will before they passed...
How to manage an estate’s debts
Being an estate administrator can be a source of pride – and a source of stress, depending on the amount of experience you have in serving as one. Dealing with matters pertaining to estate administration can be challenging and requires careful study. It can take time...
How can families benefit from a testamentary trust?
As the owner of an estate or testator, you decide who inherits your property and assets after your death. Your will outlines your decisions and provides instructions on how you wish to manage your estate. If you're concerned about how your family can manage the assets...
When can avoiding probate help you save money?
Some may consider using various estate planning tools to save money by avoiding probate, but this mindset is often a misconception. Establishing trusts and other options can become more costly than probate expenses. Still, saving money can be possible when avoiding...
What are the benefits of a pour-over will?
Wills can include various conditions to serve different functions. It can have specific or general directions on what happens to the testator's estate after they pass on. Sometimes, this document can work in tandem with other estate planning tools. For example, a...
What is the difference between probate and estate administration?
When a person dies, they leave behind their estate. Sometimes, that includes debt. The reason estate administration and probate administration are so similar is because they both refer to the process of collecting the decedent’s assets, paying their debts and...