A sizeable gift or inheritance may temporarily improve your disabled child's life, but it can also jeopardize vital federal and Ohio state benefits like Social Security income and Medicaid. A special needs trust can help you plan for the future without sacrificing...
estate planning
When should I consider creating a special needs trust?
A disabled child may require assistance when issues such as budgeting or health care decisions arise. You may wish to consider a special needs trust and name an individual to manage your child's affairs after your death. You may name a trusted individual, a relative...
When is an Ohioan liable for the debt of a deceased loved one?
Most people in Ohio have at least one credit card, and, while some are able to pay off the balance each month, others carry credit card debt. In fact, according to one report, nearly three out of four consumers will still have outstanding credit card debt at the time...
Estate plans can include transfer-on-death accounts
If a person in Ohio dies intestate, that is, with no estate plan, their estate will go through the probate process. Even if a person has a will, in general the will still needs to be probated. Probate can be costly both in time and money, so it is something many...
How can trusts benefit single parents?
Parents in Dublin generally want to provide for their children, so it makes sense that when executing a will or trust they will name their children as their heirs. This is true whether the parent is part of a married couple or whether the parent is raising their child...
What is a financial power of attorney?
One of the biggest skills that a person must learn as they grow up and become an adult is how to manage their money. This does not just mean understanding investments and how to save, but also how to budget, plan for fixed costs and make payments on bills and other...
The status of oral and handwritten wills in Ohio
A will is an important legal document that is often included in the estate plan of a Dublin resident. A will must meet certain requirements in order to be valid and if it does not meet those mandates it may not be recognized as controlling when a person passes away....
What is a spendthrift trust?
Most parents in Ohio do their best to help their kids understand basic and important life skills. They may teach them how to care for their own physical needs and how to budget for their financial expenditures. While some children may embrace these lessons and thrive...
Changes to estate plan may be necessary after a divorce
It is important that all Ohio residents seriously assess their needs for written estate plans. While many people may feel that they do not possess sufficient assets to justify the creation of estate planning documents, practically everyone can benefit from taking the...
Meeting the requirements of a valid will in Ohio
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...