Ready to take that trip this summer? Whether by plane, train or automobile, a scheduled trip can be a great motivator to get your affairs in order, especially for parents of minor children. The following is a list and brief description of basic documents you should consider or review before you pack your suitcase.
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- Last Will and Testament. This document sets forth what will happen to your property when you die and who will handle your estate. It also can provide for who will take care of your minor children if you couldn’t and who would handle their inheritance and under what terms. In Ohio, a Will
Dealing with the death of a loved one is difficult enough. Handling the financial matters that come with it can be overwhelming and disorienting. The following is a list of initial steps to take when a loved one passes away. If the steps seem too much for you to handle in this challenging time, consider asking for the help of friends, family and a probate attorney.
Funeral and Burial
The funeral and burial or cremation arrangements must be made. It would be wise to review the deceased’s records to see whether any prepaid funeral arrangements were made. You may wish to prepare an obituary as well.… Read the rest
Under Ohio Law, a Will, or a modification of a Will, known as a Codicil, must meet the same execution requirements. That is, it must be signed by the testator at the end with two individuals witnessing your signature.
Not uncommonly, individual will come into the office with their old original Wills marked up with changes that they want made. The markings can create a big problem. It can effectively invalidate the old will and not having met the execution requirements, not qualify as a codicil, leaving the person with no valid will.
If you want to make changes to your Will, the preferred method is to… Read the rest
There is no requirement that a Last Will and Testament be recorded anywhere once it is made to be effective. Instead, should a probate estate need to be opened upon your death, that is the time when the Will would need to be filed with the probate court in the county where you resided when you died.
Generally, I recommend that a client keep his Will in a fire safe in his home, and ensure that loved ones know where it is and can access when the client passes away.
It is never a good idea to keep the Will in a safety deposit box in the client’s name only because an estate would need to be opened to get access to the… Read the rest