Estate Planning in Westerville, Ohio
Do you know that passing away without an estate plan is called dying “intestate?” In this case, the state of Ohio gets to decide on the distribution of your assets. If you’re a parent to minor children, their guardian will be appointed by the state. To avoid this, get in touch with a trusted Westerville, 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 Westerville 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 Westerville, Ohio, estate planning lawyer will customize your service. Common components include:
- Wills
- Trusts
- Healthcare directives
- Powers of attorney
- Living wills
- Guardianship
- Incapacity planning
- Probate administration
Your estate plan will protect you today and in the future. Contact an estate planning attorney today for more information.
Wills And Trusts
Regardless of how extensive your estate is, your attorney may suggest that you prepare both a will and a trust. A will allows you to plan for your estate’s future after your death, including who will receive your assets and care for your minor children. Your will has to pass through probate before your beneficiaries can receive your assets. Wills are only valid post-death, so that you can modify or revoke them at any point. Your Westerville, Ohio, estate planning attorney can aid you in drafting a new will or amending 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 Westerville estate and elder care planning attorney can advise you on the type of trust you need, if applicable.
Healthcare Power Of Attorney
Your Westerville, Ohio, estate planning lawyer can help you create a healthcare power of attorney. This lets you nominate a person who can make choices on your behalf if you’re unable. If you become incapacitated, this individual will act for you.
It’s vital to put together a healthcare power of attorney now, even if you’re currently well. Then, if an incident occurs, all the paperwork will be ready, preventing your family from needing to seek court permission to make choices. By establishing this document now, you can name decision-makers and beneficiaries.
In choosing who will take over decision-making, pick someone you trust to respect your wishes and act in your best interests.
Support Children With Special Needs
A Westerville, Ohio, estate planning lawyer can help you in caring for a child with special needs. Parents usually create a special needs trust. This way, children with special needs can receive monetary and other forms of assistance without sacrificing their vital government benefits. There’s a fine balance between providing for your child and inadvertently causing them to lose these critical benefits. Seek counsel from a Westerville estate planning lawyer to ensure your child has sufficient resources now and for the future.
Asset Protection
Interested in securing your assets for the forthcoming generation? Your Westerville, Ohio, estate planning and elder care attorneys can create a strategy to protect your assets. This could encompass the formation of a business entity, the creation of a domestic asset protection trust, or drafting a tailored approach to meet your specific asset protection needs. After a comprehensive review of your circumstances and discussing your aims, the lawyer can propose the best strategies for moving forward.
