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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...
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...
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...
Some Ohio estates make their way through probate court without any issues. An individual clearly describes what should happen with their property in their will, and the person serving as the personal representative of their estate is able to follow those instructions...
The main legal document in an estate plan is a will. A will is essentially a set of instructions that dictate how assets are distributed. Heirs and beneficiaries can benefit from a will, but there can be some issues that prevent that from happening. For starters, a...
When a person dies, their family members could rely on their estate plan to determine what to do with their assets. Ideally, they could settle matters based on the deceased's wishes. However, some people could pass on without a will. In this instance, local intestacy...
Many people know that there are two types of estate planning tools, called a will and trust, but they may not know the differences between them. Will overview and benefits A will is a legal document that addresses how a person wants their assets to be distributed...
If you’ve been left with the responsibility to administer a loved one’s estate after they pass away, you might be feeling overwhelmed and uncertain of where to start the process. That’s okay. You’ve taken the important first step of seeking out information. And...
A durable power of attorney (POA) is an important part of an estate plan. It is a legal document that grants an agent the legal authority to make important decisions on behalf of another person, who is called the principal. It is important for the principal to choose...
There are many responsibilities involved with being an estate executor in Ohio. You must identify and locate the estates assets, pay off estate debts and distribute assets to heirs, among other tasks. You might experience complications throughout the probate process...
