Estate Planning in Worthington, Ohio
Are you aware that dying without an estate plan is referred to as “intestate?” This implies that the state of Ohio will decide the fate of your assets. Even more concerning, if you have minor children, their guardianship will be determined by the state. Instead of leaving these crucial decisions to the state of Ohio, reach out to a reliable estate planning attorney in Worthington, Ohio.
Jarvis Law Office understands that estate planning isn’t the most comfortable topic, and we make the process as painless as possible. Once our Worthington 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 Worthington, 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
No matter your estate’s size, your lawyer could recommend creating both a will and a trust. A will lets you set out your intentions for your estate after you pass away, including who will inherit your assets and care for your underage children. Your will needs to be probated before your beneficiaries can inherit your assets. Because wills are only effective after you die, you can revise or cancel them at any point. Your Worthington, Ohio, estate planning attorney can help you write a new will or update an existing one if necessary.
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 Worthington 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 Worthington, Ohio, will also assist you in drafting a healthcare power of attorney. This allows you to designate someone to make decisions for you if you’re unable to do so. This person will then step in if you become incapacitated.
It’s crucial to prepare a healthcare power of attorney now, even while you’re healthy. This way, if anything happens, the legalities will have been sorted out, sparing your family from having to approach the court for decision-making power. Plus, by setting up this document now, you’ll be able to appoint decision-makers and beneficiaries.
Make sure that the chosen person is trustworthy, capable of acting in your best interest, and respecting your desires.
Support Children With Special Needs
Your estate planning attorney in Worthington, Ohio, can guide you in looking after a child with special needs. Most often, parents form a special needs trust. This allows children with special needs to obtain financial aid and other supports without losing their important government benefits. It’s crucial to maintain the balance between supporting your child and unintentionally causing them to lose these essential benefits. Engage a Worthington estate planning attorney to make sure your child is well-provided for now and later.
Asset Protection
Do you aim to protect your assets for your successors? Your estate planning and elder care lawyers based in Worthington, Ohio, can help you formulate an asset protection plan. This may involve setting up a business structure, creating a domestic asset protection trust, or designing a custom strategy to cater to your asset protection needs. After assessing your current situation and discussing your objectives, the attorney can recommend the best strategies for your next steps.
