Tag: cleveland estate planning lawyer

Where Should I Keep My Health Care Power of Attorney and Living Will?

Congratulations! You’ve made important decisions for you and your loved ones and executed a Health Care Power of Attorney and Living Will. Now, what do you do with these important documents?

Under Ohio law, copies of Health Care Power of Attorney and Living Will documents are treated the same as originals.  You should provide a copy of the documents to your primary care physician and if you are undergoing a procedure, especially in a different health system from your primary care physician, you should provide copies to the health care provider in advance of the procedure.

I generally … Read the rest

Where Should I Keep My Financial Power of Attorney?

You’ve taken the important step of having your Financial Power of Attorney prepared by an estate planning or elder law lawyer. Now, where do you keep it?

Although Ohio law says that a copy of a financial power of attorney is to be treated the same as an original, it is not uncommon for financial institutions to require the agent to present an original at least once before it will accept the document.  For that reason, ensuring that your original Financial Power of Attorney can be located is important.

If you have full confidence in the agent you are appointing in your Financial Power of Attorney… Read the rest

Where Should I Keep My Last Will and Testament?

You’ve done the right thing. You’ve gone to an estate planning or elder law lawyer and had your estate planning documents prepared, ie. your Last Will and Testament, Financial Power of Attorney, Health Care Power of Attorney, etc. Now what do you do with your Last Will and Testament?

In Ohio, original Wills are very important. That is because if an original Will is lost, the law presumes that it was lost or destroyed on purpose. To admit a lost Will, the burden is on the individual seeking to admit the lost Will that it was executed in accordance with the law, what the contents of the Will were, and that… Read the rest

Should I Make my Young Child or Grandchild the Beneficiary of my Retirement Account?

Oftentimes, clients want to leave a retirement account to a minor child or grandchild (one who is under 18 years old). Sometimes a spouse is the primary beneficiary (would be first in line to receive the account upon the owner’s death) and minor children are the contingent beneficiaries (would be second in line to receive the account upon the owner’s death).

It is generally a good idea to have a named beneficiary of a retirement account, like a Traditional IRA or 401(k) or other tax deferred retirement account, because a named beneficiary is able to stretch distributions throughout the beneficiary… Read the rest