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Estate Law Archives

Estate planning implications when one child asks for business money

We spotlighted in a recent blog post some of the complexity that can attach when an adult child turns to parents for business funding, especially for an unproven entrepreneurial venture. We noted the “slippery slope” dimensions of that in our July 17 entry, especially for parents having a hard time being rigidly dispassionate about such an entreaty.

What’s the best way to provide for my kids after I’m gone?

Planning for one’s death is not usually a pleasant process. However, if you’re intending to leave an inheritance to any beneficiaries after you’re gone, it’s important to create an estate plan with their best interests in mind. There are different methods of leaving your assets to your loved ones, and you should have a clear understanding of the relative advantages of each.

Using estate law to its full advantage means more than documents

Without a doubt, Ohio residents need the proper documentation to ensure that their wishes are followed after death. Estate law provides for a variety of ways for them to plan for what happens to their property upon death or incapacitation, but those documents are often just the starting point. Taking additional steps can further help loved ones manage an estate when the time comes.

What does estate law say about a spouse's inheritance rights?

Like most other spouses here in Ohio, you probably expect your spouse to provide for you if you outlive him or her. The question is whether your spouse created an estate plan prior to death or for some reason failed to provide for you in one. If that happens, you may wonder what estate law says about your right to inherit as a surviving spouse.

The benefits of a special needs trust

If you want to make sure your loved one with disabilities is provided for after you’re gone, consider creating a special needs trust in your estate plan. A trust is an arrangement under which one person’s assets are managed by a third party (known as a trustee) to provide for a loved one (beneficiary) in a pre-defined manner. Unlike a standard trust, a special needs trust is specifically designed and tailored to meet the needs of a beneficiary with disabilities.

Special concerns of the elderly regarding estate planning

Estate planning and administration commentators -- ranging widely from financial advisers and accountants to economic journalists and attorneys who work intimately with clients in this singular and important legal realm -- routinely note a fundamental fallacy regarding the topic.

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