No one wants to think about dying, but as with most unpleasant experiences, it is best to be prepared. So, what is going to happen to all your stuff when you die? Probate law is the branch of law that answers the question “Who gets your stuff when you die”?
Though the law is occasionally updated, much of Ohio Probate law dates to the 1950’s. It was enacted during a time when a “family” was a dad who worked and a mom who stayed home with the 2.5 kids, and their 1.5 pets. This just isn’t the reality for most of America today.
Most of Michael E. Bryant’s clients are in some sort of non-traditional family, like:
Many people, if they were to die today, wouldn’t leave behind the legacy they hoped. Their possessions may go to people they wouldn’t intend to pass it too, or their things wouldn’t be split in the way they would like. The law just isn’t designed to deal with today’s modern family structures. Quality estate planning is especially important for non-traditional family members. You’ll need to take the time to select the right beneficiary designations for your family. This is especially important if you have minor children in your family unit.
Wills and Trusts and other estate documents help you control what happens with your hard-earned money after you die. A will is a rather simple instrument that directs what should happen with your possession. A trust is more complex but allows you to exercise control after you pass away. It can protect your assets to make sure they are there for the right people, at the right time.
An estate planner is your personal representative, who can help you plan for and divide your financial resources after your death.
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It’s important to also take into account any income tax you might pay on your possessions. A trusted estate planning attorney can help your beneficiaries through the probate process and help minimize and plan for any estate tax.
Most people think that a trust is something that only rich people have or need. You do need to have something to protect to have a trust, but it is not only for the rich and famous. It makes sense to talk to an attorney who can assess what you need, what you want to happen, and give you guidance – without charging you like you are rich and famous. Toledo estate planning attorney, Michael E. Bryant can evaluate what you have and what you want and recommend that makes sense for you, your family, and your budget.
You want to make sure that your loved ones are taken care of financially, even if you can’t take care of them yourself. An estate planning lawyer like Michael E. Bryant can help you protect your family when the time comes.