Tag: Estate Planning
Most people want to avoid probate, and therefore, want to avoid the use of a will. The following are some key questions to address to determine if a trust is right for you. Is a trust right for you? Trusts have become so popular that many estate planning attorneys have gotten used to new clients […]
“This is about protecting the state’s most vulnerable people,” Pelanda said. “We want to hold those in charge of others responsible and ensure they know what’s expected of them.” Ohio is taking action against a developing problem: guardianship abuse. Recent media reports have revealed that Ohio has a large problem with some court-appointed guardians who […]
Choosing a trustee is hard — but getting rid of one is harder. Beneficiaries who choose to switch trustees can find the process costly, drawn out, and unpleasant. But it may be getting a bit easier. Can you swap your trustee for a new one? Many good reasons exist for why a trust beneficiary might […]
You might think those three words – “Location, location, location!” – are uttered more by realtors than estate planning attorneys, but I beg to differ. Of course, when I repeat the phrase to clients I am not talking about the site of new home or office, but rather the location of individuals’ most important planning […]
The court-appointed trustee seeking to recover money for bilked investors began taking aim at Andrew Madoff’s money even before his Sept. 3 death from mantle cell lymphoma. Two federal officials also said Madoff would have likely faced tax evasion charges if he had not died. Have you ever heard of a clawback? When investors are […]
The facts of the Wilson case involved a divorced couple, at odds over where to bury the ashes of their 23-year-old son, who was killed in a tragic car crash when he was hit by a drunk driver. When he died, the son was single and had no children. He left no will or specific instructions for the […]
The decedent Robert Reitano owned stock in two closely held corporations, each of which owned a fishing boat. His assets consisted of little else besides the shares of stock. Marci McNicol, who owned stock in one of the corporations, was appointed the executrix of the decedent’s estate. In her role as executrix, McNicol was given notice of the […]
Ms. Smith’s inheritance is unique in the value of the works she didn’t know about in her mother’s attic. But her initial feeling of being overwhelmed and uncertain about what to do with a family member’s collection, whether valuable or sentimental, is not. Inheriting cash is pretty straightforward. But collectibles? What do you do with […]
I recently completed my estate plan. I signed a power or attorney but I have no idea why I have it or what I’m supposed to do with it. Do you know what’s really in your estate plan? Do you understand each document that you’ve signed? Maybe it’s time to ask some questions. Unfortunately, when […]
Once people hit retirement, they do not know how long they will live or how long their money will last. Still, the vast majority of retirees with children cling to an intention to leave something behind, even though many of those offspring have no expectation of receiving an inheritance. Will you leave an inheritance to […]
