Estate Planning Lawyers In Columbus, OH

Estate Planning Attorney in Ohio

Many refuse to think about the future simply because doing so is too depressing or uncomfortable. Some feel that estate planning is only for the wealthy. 

Everyone, however, needs to plan for the future. They think they are too young and that planning for the future is unnecessary because they have not acquired considerable wealth. However, it is vitally essential for all families to have estate plans.If you need assistance with estate planning, The Law Offices of Saia, Marrocco & Jensen Inc. will be able to assist you. 

We have convenient Ohio office locations in Columbus, Delaware, Mt. Gilead, New Lexington, and Cambridge. Every Ohio estate planning attorney at our firm has the experience and dedication to help you plan for the future. Call us today at 614-444-3036 to schedule an appointment with a knowledgeable lawyer.

Why Do I Need An Estate Plan?

If you do not have an estate plan, Ohio law will determine how your assets will be distributed upon your death. More often than not, the law typically does not distribute your assets in the manner that you would have wished. If you are married, have children, own a business or have significant assets, you should have an estate plan. You should also update your estate plan if you experience any major life changes such as the birth of a child or a divorce.

Failing to do so could result in your assets being distributed in a way that you would not want, which could subject your family, children or spouse to financial strain in the future. Creating a plan with an experienced lawyer from our firm will help you avoid costly mistakes and accomplish your goal of protecting your family.

Different Types of Estate Planning Tools

Some of the estate planning tools that we can include in your estate plan include:

• Trusts
• Last wills and testaments
• Powers of Attorney
• Living wills

What Is A Last Will And Testament?

A last will and testament, often just called a will, is a document that describes how you wish your estate to be handled after your death. In your will, you can direct assets and property to certain family members or loved ones, name guardians for minor children and name the person who will manage the distribution of your estate.

If you die without a will, the state of Ohio will step in and determine how your assets will be divided, which may result in a share of your assets going to someone you hadn’t intended to include at all.

Powers of Attorney

Making medical decisions about your own body is hard enough. It can be worse if you are very ill and your family members must make those decisions for you. You can ease the burden for these family members by creating a durable power of attorney in which you designate the person who will act on your behalf to make financial or health care decisions for you if you are incapacitated.

Healthcare Power of Attorney

A healthcare power of attorney is a document in which you appoint someone you trust to make healthcare decisions for you if you’re incapacitated. This document ensures that you receive the medical care you want and nothing more. It is essential to choose someone you trust to follow your directives. The person you appoint does not have to be a family member. 

Relatedly, you can also complete a living will declaration, which is another legal document in which you provide directions about using artificial life support measures to keep you alive if you are permanently unconscious or are terminally ill. A living will only becomes effective if you cannot communicate your medical wishes and can be revoked by you at any time.  

Financial Power of Attorney

A financial power of attorney is a legal document where you can appoint an agent to act on your behalf in financial and business matters. These are usually used when you cannot make these types of decisions on your own, such as when you’re out of the country for an extended period and need someone to manage your business or finances. They can also be used in the case of your incapacitation due to health issues. A financial power of attorney can be revoked or changed at any time.

An agent for a financial power of attorney must act in good faith according to the instructions set forth by the individual. To that end, there are several things an agent cannot do, such as:

•  Creating a trust for you
• Change any beneficiaries
• Allow others to act as an agent for you
• Change rights of survivorship

Powers of attorney and living wills are important legal documents that should be created and reviewed by a competent and dedicated estate planning attorney. The lawyers at The Law Offices of Saia, Marrocco & Jensen Inc. have the experience and knowledge to create the documentation to ensure that your financial and health care wishes are honored if you become incapacitated.

Trusts

Trusts are an essential aspect of estate planning. In many cases, they let you pass on your assets to your loved ones without having them go through probate. When a person creates a trust, they appoint a trustee who will manage the assets in the trust.

You can put various financial items into a trust, such as checking accounts, stocks, and insurance policies. You can also place real estate properties and critical personal items like jewelry into a trust. However, before you put a checking account into a trust, talk with your attorney. Complications can arise if you use that checking account to pay your bills.

In some instances, disputes regarding the trust can arise. Our estate planning lawyers can help with any dispute that comes up, such as when a trustee:

• Fails to deliver funds promptly
• Mismanages the funds and property in the trust
• Breaches their fiduciary duty
• Steals the assets

Charitable Trusts

Charitable trusts are ways to leave all or part of your estate to a charity or charities of your choice. Not only can you be generous with your assets after you pass, but you can also take advantage of the tax benefits that come with having a charitable trust. Your donations can be made in a lump sum or in multiple payments over a designated period, whichever you wish.

Other Types of Trusts

Trusts can be used for many purposes. If you want to leave money for someone who has trouble handling money, you could create a spendthrift trust. In such a trust, the beneficiary’s access to the trust will be dictated by the terms of the trust. This helps prevent the beneficiary from squandering the money. This kind of trust protects assets from creditors.

If you have a loved one who requires government benefits, whether for long-term care or because they have a disability, you could create a Medicaid trust. With a Medicaid trust, any assets placed in the trust do not count as the property of the beneficiary. That way, the assets will not disqualify them from receiving government benefits, but can still provide funds for enhanced quality of life.

Adequate Preparation Is Crucial To Protecting Your Interests

Preparing an estate plan is essential in distributing your assets following your death. Your estate plan should outline how you would like your assets distributed to your children, spouse, other family members, and even for the benefit of your pets. It can even address end-of-life care and medical treatment.

We can assist you with drafting and filing an effective estate plan that addresses the following:

• Wills
• Trusts
• Living wills
• Powers of attorney

We also provide various elder law services that fall outside of what is typically considered estate planning, including tax planning help.

Frequently Asked Questions About Ohio Estate Planning

We receive many questions from clients, especially those who know little about the estate planning process. Most of these are general questions so that you can better understand estate planning. We know that every person’s situation is different, so we can answer any specific questions you have when we meet for your initial consultation.

Why Do I Need An Estate Plan? 

If you do not have a will or an estate plan, Ohio law determines how your assets will be distributed upon your death. The law typically does not distribute your assets as you would have wished. If you are married, have children, own a business, or have significant assets, you should have an estate plan. You should also update your estate plan if you experience significant life changes, such as the birth of a child or a divorce.

Do I Need A Will?

There is no legal requirement that everyone have a will. But with a legal will in place, you are preserving your voice to be heard after you have passed away. It is the best way to protect your wishes and save your loved ones from agonizing over your estate.

What Happens If I Die Without A Will?

In the event you die and do not have a will, the courts will consider you as having died “intestate” and will take over the process of administering your estate. Your assets and property will be distributed according to state law, despite any claims from surviving family members as to how you had wished your estate to be handled. So, having a will ensures that your estate will be distributed according to your wishes and not just according to state law.

What Makes A Will Legal?

The courts consider a will valid and legally binding based on three criteria:

•  Mental capacity: You must be competent, able to make your own decisions, and of sound mind when creating and signing your last will.
• Free will: A will is not legal if you are pressured or succumb to undue influence when writing and signing your will. You must be doing so freely and without any outside influence.
• Witnesses: When you sign the will that has been drafted, two individuals must witness your signing. These people cannot be related to you, nor can they be named in your will as beneficiaries of your estate.

Do I Need An Attorney To Create A Will?

It is not required that you have a lawyer when creating a last will and testament. There are many places online where you can find do-it-yourself directions. However, it is in your best interests to have an attorney guide you through the process to ensure your intentions are clearly stated and the will encompasses all your wishes.

Can I Change My Will After It Is Written?

Yes, you can create a new will to take the place of any previous wills. In fact, it is often a good idea to review your will and any other estate planning documents every so often and in the event of any major life changes. This way, you can ensure your will is up to date and accurate at all times.

Can I leave Someone Out Of My Will?

While there are some protections for spouses and/or children, you can typically include or leave out anyone you wish in your will. If you are leaving someone out and have no intention of any of your estate going to them, it is best to be very specific in your will about that situation.

Secure Your Future With The Attorneys At The Law Offices of Saia, Marrocco & Jensen Inc.

Ohio law requires that certain formalities be followed for a will, trust, or other aspect of an estate plan to be valid and enforceable. Our law firm can help you prepare an estate plan recognized as a legal document in court. Seeking solid representation from our attorneys at the outset can minimize the possibility of subjecting your family to unnecessary and costly lawsuits in the future. Having an estate plan will protect your assets from letting the probate court decide what happens to your hard-earned money after you die. 

If you are ready to secure your finances and future, we can help. Contact The Law Offices of Saia, Marrocco & Jensen Inc. or call us at 614-444-3036 to speak with one of our lawyers. We offer free consultations. We are excited to learn more about your goals for your family and create a unique estate plan that can be implemented to protect your family’s legacy.