Creating an estate plan is a significant step toward ensuring that your wishes are carried out and your loved ones are taken care of. However, there’s another crucial step many people overlook: discussing your estate plan with family. While it may seem uncomfortable, having this conversation can prevent misunderstandings, reduce potential conflicts, and give your loved ones peace of mind.

Probate is a legal process that handles the distribution of a deceased person’s assets, settling debts, and resolving any claims against the estate. In Ohio, probate ensures that the deceased’s assets are divided according to their will or, if there is no will, according to the state’s intestacy laws. However, this process can be both time-consuming and costly, often consuming 3-7% of the estate’s total value. Understanding how probate works and how to potentially avoid it can save time, money, and stress for your loved ones.

In today’s digital era, estate planning extends beyond managing physical assets like property or bank accounts. With our lives increasingly conducted online, digital assets are becoming a crucial aspect of modern estate planning. This includes social media profiles, online bank accounts, digital currencies like Bitcoin, and more. But have you considered what happens to these digital assets in estate planning after you’re gone?

August is National Dog Month—a time when we celebrate our furry friends who greet us at the door with wagging tails, comfort us with slobbery kisses, and bring so much joy into our lives. But as we pamper our pups with treats and belly rubs this month, there’s one important question we often overlook: What happens to our beloved pets if something happens to us?

Planning for the future of a child with special needs requires careful consideration, especially when it comes to financial security. As a parent, your primary concern is ensuring that your child is well taken care of, even after you’re no longer there. This is where special needs trusts play a crucial role, helping to protect your child’s access to essential benefits like Supplemental Security Income (SSI) and Medicaid, while also providing for additional needs that enhance their quality of life.

Divorce can be a significant turning point in anyone’s life, and it’s becoming increasingly common. According to data from the CDC, around 39% of marriages will end in divorce in 2023. While the divorce rate has been declining, many people face the challenge of updating their estate plans to reflect new family dynamics. In Ohio, as in many states, failing to update these documents after a divorce can lead to unintended consequences.

Vacations are a time to escape the everyday hustle, and nothing beats having a place of your own to retreat to—a cozy lakeside cottage, a mountain cabin, or a beachfront condo. As you prepare for your next getaway, you’re likely focused on packing, planning activities, and making sure everything is set for a relaxing time. But have you thought about how your vacation home fits into your estate plan?

As you gear up for the new school year—shopping for supplies, organizing schedules, and preparing your children for a successful academic journey—take a moment to ensure their future is safeguarded with a comprehensive estate plan. While you focus on checking off your back-to-school list, reviewing your estate plan is crucial to protect and provide for your family, no matter what lies ahead.

In recent years, Americans have faced increasing income inequality and rising inflation, affecting all aspects of their lives, including estate planning. According to Caring.com’s 2024 Wills and Estate Planning Survey, only 32% of Americans have an estate plan in 2024, marking a 6% decline from last year. This drop highlights a troubling trend, particularly for lower-income households who are disproportionately impacted by economic pressures.

Estate planning is essential for ensuring your assets are managed according to your wishes and that your loved ones are cared for after you’re gone. In Ohio, there are unique aspects of estate planning that you should consider. Here are the top 10 things to know about estate planning in Ohio:

A recent study by First Citizens Wealth, the wealth management division of First Citizens Bank, sheds light on the financial habits and planning strategies of affluent Americans. The “Beyond Wealth” study, which surveyed individuals with more than $500,000 in investable assets, reveals a confidence in money management skills but a significant lack of preparedness in transferring wealth to heirs.

Summer is here, and with it comes the excitement of travel and adventure. Whether you’re planning a relaxing beach getaway, a road trip across the country, or an international escapade, it’s important to ensure that your affairs are in order before you embark on your journey. While travel is a time for creating memories and enjoying new experiences, it’s also a good time to make sure your estate planning is up to date. Here’s a checklist of essential items to consider before you pack your bags.