As Ohio residents say goodbye to 2018, they may consider proactive steps they can take to make their futures as secure and carefree as possible. While saving for retirement and providing for their families is often high on their lists of things to accomplish, planning for the disposition of their estates should also rank at the top of their lists. Although estate planning can feel like something that can be put off, everyone should have some basic testamentary documents in place to protect their wealth and assets in the event of their passing.
One of the most familiar estate planning tools that Dublin residents may elect to execute is a will. A will is a document through which a person can communicate their desires for how certain assets should be distributed to beneficiaries. It is also a tool that individuals can use to identify custodians for their minor children.
In Ohio, a will must meet certain requirements in order to be considered valid. Generally, it must be written and it must be executed by a person of sound mind. The soundness of a person’s mind may be questioned after their death if they suffered from a disease or disorder that affected their memory or judgment. Wills must be witnessed and signed by two other people who saw the will’s creator sign the document.
Wills cannot be created under duress or force, therefore any will that is made by a person who was coerced into action may be later considered invalid. Our readers who are ready to create their own wills and estate plans may want to get more information about their own unique estate planning needs.