Estate Planning in Upper Arlington, Ohio
If you pass away without an estate plan, you will have died “intestate,” and the state of Ohio gets to choose what happens to your assets. What’s worse is that if you are a parent of minor children, the state determines who will become their guardian. Don’t let the state of Ohio make these important choices for you, contact a trusted Upper Arlington, Ohio, estate planning lawyer.
Jarvis Law Office understands that estate planning isn’t the most comfortable topic, and we make the process as painless as possible. Once our Upper Arlington estate planning lawyer finishes, you will feel a sense of relief. It’s much easier to face the future when your estate plan is in place.
What’s Involved In An Estate Plan?
Our Upper Arlington, Ohio, estate planning lawyer will customize your service. Common components include:
- Wills
- Trusts
- Healthcare directives
- Powers of attorney
- Elder Law
- Incapacity planning
- Probate administration
- Care Navigation
- Special Needs Planning
- Estate Tax Planning
- Business Succession
Your estate plan will protect you today and in the future. Contact an estate planning attorney today for more information.
Wills And Trusts
Irrespective of your estate’s size, your legal advisor might recommend drafting both a will and a trust. A will permits you to detail your desires for your estate upon your death, determining who will get your assets and who will look after your underage children. Probate must approve your will before your beneficiaries can access your assets. Since wills are only effective post-death, you can modify or rescind them anytime. Your Upper Arlington, Ohio, estate planning attorney can facilitate the creation of a new will or the revision of an existing one.
A trust also lets you choose who will receive your property after you pass away and how they receive their inheritance. Trusts have various benefits, including privacy. Unlike wills, they don’t go through probate, so your assets don’t have to become a matter of public record. Numerous types of trusts serve different purposes, including the ability to protect your assets from the extraordinary cost of long-term care or to shield assets from creditors. Your Upper Arlington estate and elder care planning attorney can advise you on the type of trust you need, if applicable.
Healthcare Power Of Attorney
Your estate planning attorney in Upper Arlington, Ohio, will guide you in crafting a healthcare power of attorney. You’ll be able to select someone to make decisions for you if you’re rendered incapable. This individual will step in if you become incapacitated.
It’s wise to draft a healthcare power of attorney now, even when you’re in good health. That way, if something unforeseen happens, the necessary paperwork will already be in place, saving your family from having to petition the court for decision-making rights.
By creating this document now, you can designate decision-makers and beneficiaries. When choosing your representative, it’s important to pick someone you trust to act in your best interest and honor your preferences.
Support Children With Special Needs
Your Upper Arlington, Ohio, estate planning attorney can assist you in looking after a child with special needs. Often, parents set up a special needs trust. With this arrangement, children with special needs can receive funds and other forms of aid without compromising their access to crucial government benefits. It’s a fine line between offering support to your child and unwittingly causing them to lose these essential benefits. Consult an Upper Arlington estate planning attorney to ensure your child has adequate resources for the present and the future.
Asset Protection
Want to secure and conserve your assets for future generations? Your estate planning and elder care lawyers in Upper Arlington, Ohio, can devise an asset protection strategy tailored to your needs. This could include establishing a business entity, initiating a domestic asset protection trust, or curating a custom approach to address your asset protection needs. After understanding your situation and discussing your objectives, the attorney can recommend the most suitable strategies for progression.
