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Why is estate planning so important?

If you have not yet started an Ohio estate plan, it may be because you think that estate planning is something that only wealthy people do. Such is not the case. In fact, many middle-income families have discovered too late that the lack of a good estate plan has caused them many problems and heartaches when a loved one died.

Preventing inheritance disputes

The best way to avoid inheritance disputes in Ohio is to plan for them and try to prevent their occurrence. Clear and comprehensive estate planning makes the grieving process and disposition of your assets easier for your loved ones. Plus, a will that is well drafted greatly reduces the likelihood of it being challenged in court. 

Checks and balances to prevent elder abuse

The cognitive and physical impairment many seniors face can place them at serious risk of financial exploitation if a malicious party manages to gain control over their finances. This is why it is important to establish who has medical and financial decision making power in the event you or a loved one in Ohio become too infirm to make those decisions. In some cases, you may even want to split that power among multiple individuals.

How can I choose the best power of attorney?

While it may be unpleasant to think about, there might come a time when you're unable to make medical decisions for yourself. A power of attorney is crucial in this case, as this person will be your advocate to medical staff and even family members, who might not agree with your wishes regarding end-of-life care. Very Well Health explains what to look for when choosing a power of attorney so you can rest assured that you made the right decision. 

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Gottschlich & Portune, LLP
201 East Sixth Street
Dayton, OH 45402

Phone: 937-802-2397
Phone: 937-802-2397
Fax: 937-824-2818
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