During season of giving, consider gifts through an estate plan

by | Nov 16, 2018 | estate planning, Firm News

In a matter of days, Ohio residents will be celebrating Thanksgiving with members of their families and friends who have become special to their lives. And just as the last plates of turkey are cleared from their tables, some individuals will head out into the cold to brave the Black Friday crowds that will undoubtedly ravage local retailers. Holidays like Christmas, Hanukkah, and Valentine’s Day are on the horizon and these celebratory events are often associated with gift-giving. While many will stress over what to buy their favorite relations, few will consider a much more important way of providing for those that they love.

Estate planning is an important step in preparing one’s property for disposition after their death and ensuring that relatives are given the items that the decedent wants them to have. An estate plan can include a will, trusts, and other important tools, and every estate plan should be tailored to the needs of its creator.

Without an estate plan a person’s end of life possessions may be subject to probate and may be distributed against their wishes. However, without an estate plan to communicate one’s intentions for giving and disposing of their assets, a person’s plans may be ignored in lieu of the intestacy laws of Ohio.

There is no better time to consider a personal estate plan than during the holidays. During this season of giving, individuals can take control of their property plans and make sure that their loved ones are not left out when they are gone. Estate planning attorneys can help their new clients begin the process of settling their estates now and into the New Year.