Probate is the legal process that oversees the distribution of a decedent’s assets. In Ohio, probate occurs in the county where the decedent was a resident at the time of his or her passing. The key steps in the Ohio probate process include: Filing the Last Will and...
For many families, a vacation home is more than just property — it holds cherished memories and serves as a beloved retreat. However, without proper estate planning, this valuable asset can turn into a source of conflict, financial strain, and emotional distress....
When creating Spousal Lifetime Access Trusts (SLATs), many individuals aim to take advantage of valuable estate and gift tax benefits while ensuring that their spouse has access to trust assets during their lifetime. However, a common concern is whether the structure...
As we age, the importance of planning for our future becomes increasingly clear. One of the most critical aspects of this planning is preparing for the possibility of incapacity. For senior citizens, understanding how to navigate the complexities of incapacity...
The IRS has recently announced its adjustments to the exemption amount for estate and gift taxes and the amount for annual exclusion gifts for 2025. Here is a summary of the main points of the announcement by the IRS: The estate tax exemption is the amount of assets...
As we approach the 2024 U.S. Presidential Election, many Americans are focusing on candidates' platforms and potential policy changes. However, amidst the political fervor, one critical area often overlooked is estate planning—particularly with the impending sunset of...
Effective in 2023, Ohio introduced a law that allows married couples to enter into post-nuptial contracts—an option previously unavailable in the state. Known as post-nuptial agreements, this legislation brings Ohio in line with many other states that already offer...
The Business Prenup: Foresight & Fortune Picture this: Sarah, Mike, and John, three college friends, decide to turn their shared passion for artisanal coffee into a thriving business. They pour their hearts, souls, and savings into "Bean Dreams," a cozy café that...
Estate planning may seem like a daunting process; however, it is vital to ensure that your assets and loved ones are protected when you are no longer around. Whether you are thinking about putting together an estate plan or revisiting your existing one, there are two...
Avoiding probate, or the process of estate administration through the county probate court, is a pillar of every estate plan. Traditionally, funding a revocable living trust with one’s property during a lifetime was the most common method of doing so. Other methods of...
