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Estate Planning Archives

Changing your power of attorney due to divorce

Bringing a marriage to an end can have an impact on someone’s life in many ways. For example, their relationship with their children may change, whether they spend more or less time with their kids. Or, they may relocate to a new city or state, struggle to adjust to the single life or have a number of questions related to post-divorce legal matters such as child support. However, it is important to be aware of some other responsibilities that you may have in the wake of a divorce filing, such as changing your power of attorney.

How can I choose a reliable trustee for my estate?

Many people in Columbus choose to make a trust a part of their estate plans. While these documents are certainly beneficial for avoiding probate, you must make sure that you choose the trustee carefully. This person will be responsible for overseeing the affairs of your estate after you’re gone, which takes quite a bit of responsibility. Because this decision is so crucial, AARP offers the following advice.

When should I update my estate plan?

Even a good estate plan may need to be updated from time to time. Knowing when to revisit your will and other documents is crucial; failure to do so could result in your final wishes being ignored, as well as increased strife between your family members. To prevent this from occurring, Forbes offers the following guide to when an estate plan should be updated.  

Am I only allowed to name one power of attorney?

Choosing a person to be your power of attorney (POA) allows you to have a surrogate act on your behalf should you suffer incapacitation and can no longer make financial or other life decisions for yourself. Some people may wonder, however, if they can or should appoint more than one person to act as a power of attorney. For various reasons, Ohio residents may wish to appoint two or more agents to act on their behalf.

Divorce and changes to your estate plan

There are all sorts of stressors that people have to face when they decide to split up with their marital partner. For some, such as those who have children, divorce can be especially complicated (child support, custody disputes, and so on). It is important to keep in mind that divorce can have an impact on a person’s life in all sorts of other ways also. For example, those who have an estate plan may need to take a second look at their trust or will when they divorce.

How to Save for Retirement After Your 40's

While retirement savings are best started early, many people end up getting a late start. This doesn’t have to spell disaster, however; if you live in Cleveland and are approaching your 40's without a retirement plan in mind, there is hope. TheBalance.com offers some good tips on how to get a jump start on your retirement later in life.

Examining the types of power of attorney

You might be prepared to face any potential challenge in Columbus, except the thought of your own mortality. It is for this reason that you may have put off your estate planning. Several of those that come to see us here at The Law Offices of Saia & Piatt Inc. think that estate planning only involves them preparing a will or trust instrument to deal with their assets upon their deaths. Like them, you may be surprised to learn that another major component of estate planning is preparing for those times when you may (for whatever reason) simply need the added assistance of others. 

Estate planning topics for remarried couples

Many people in Ohio find it difficult to talk about making a will or a trust in part because this means facing the reality that they will someday die. While a good estate plan can benefit anyone, it has particular benefits for remarried couples, especially when one or both spouses brings children into the marriage from their prior marriages or relationships.

How can a special-needs trust help my child?

With the arrival of a baby, parents begin a lifelong propensity to worry about their child. If yours is a special needs child, that worry is multiplied by the knowledge that your child will need extra care throughout his or her life, long after you are gone. One step you can take now to help ease your child’s path without you is to establish a special needs trust.

Siblings battle over famed glacier pilot's property

People in Columbus often work very hard so that when they do pass on, they are able to leave their families and/or friends with some added security in the form of an inheritance. Unfortunately, along with an inheritance also comes the potential for contention amongst beneficiaries. That is why people are encouraged to involve their beneficiaries in the estate planning process as much as possible. This may help to eliminate any disappointment over what beneficiaries may have coming to them as well as to clarify one's exact wishes. 

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