When it comes to estate planning, many Ohio families assume that drafting a will is enough to protect their loved ones. It’s easy to see why—there are countless online tools promising quick and inexpensive DIY wills. But here’s the truth: a DIY will can create more problems than it solves.
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WILLS, TRUSTS, HEALTH CARE directives, POWERS OF ATTORNEY, and LEGAL GUARDIAN nominations are on many of our hearts and minds as COVID-19 compels us to FACE our own FRAGILITY and MORTALITY.
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Do your PARENTS have an estate PLAN? Is it up to DATE? No matter how RICH or POOR you or your parents are, especially in the wake of the COVID-19 pandemic, YOU need to be ASKING these and several other QUESTIONS. When your parents become INCAPACITATED or DIE, their AFFAIRS will become your RESPONSIBILITY , and it will be IMPOSSIBLE to ASK them to CLARIFY anything. So, if you do not know whether or not they have estate planning in place that will help you best support them, read on.
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Both WILLS and TRUSTS are estate planning documents that can be used to pass your WEALTH and PROPERTY to your loved ones upon your death. However, TRUSTS come with some distinct ADVANTAGES over WILLS that you should consider when creating your plan.
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Probably every parent who has watched the news lately has felt the heartbreak over what’s happening to immigrant families at the border due to the Trump administration’s immigration regulations.
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It always surprises me to hear parents who have a child with special needs tell me that they were not aware of what they needed to do to ensure the future well-being and care of their child is properly handled. Or sometimes, they tell me they didn’t know they needed to do anything at all.
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