If you are over the age of 18, own real or personal property, have savings or other financial assets, or have children or other family members who rely on you, you may want to consider creating an estate plan.
An estate plan can help you put your wishes in writing, minimize your tax debt, secure your own future, and make specific provisions for the future of your friends and family. When you create an estate plan, you can also decide where your assets and belongings go after your death rather than having the court make those decisions for you.
Our team is ready to help you complete each of the important documents that form a comprehensive estate plan. When you are ready to start creating an estate plan with support from a Dublin estate planning lawyer in Ohio, call the team at Bressman Law by dialing (614) 538-1116 today.
Start Creating Your Estate Plan Before It Is Too Late
To some people, putting together an estate plan can seem morbid or melancholy. An estate plan, however, is simply a collection of documents, forms, and appointments that you put together with the guidance and direction of an estate planning lawyer. Your estate plan can:
- Keep peace and harmony among your family members.
- Determine what happens to your property and assets after your passing.
- Alert your family to your end-of-life preferences and relieve them of making difficult decisions.
- Allow you to choose guardians for your minor children or for adult children with impairments.
- Define which of your financial assets go to charitable organizations that are important to you.
As important as these things are, a comprehensive estate plan does so much more than this. It speaks for you when you are no longer able to speak for yourself and eliminates questions and concerns about what you would have wanted.
When you are ready to leave your voice behind in written form, contact a member of the Bressman Law client intake team by calling (614) 538-1116.
For a free legal consultation with a estate planning lawyer serving Dublin, call (614) 538-1116
It Is Never Too Early to Start Creating an Estate Plan
If you are older than 18, an estate plan might be a viable option for you, even if you do not have children or a large number of financial assets. If for no other reason, an estate plan can make your health care decisions clear. It can be valuable if you:
- Do or do not want to be revived if your heart stops
- Do or do not want to live in a persistent vegetative state
- Do or do not want to donate your organs after your death
A will or estate plan can let you name the person who executes these decisions for you while also relieving them of the burden of making the decision.
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Establish the Basics of Your Estate Plan Right Away
The basic foundation of an estate plan is usually a will. Ohio Revised Code Section 2107.02 outlines the requirements for creating a will as follows:
- At least 18 years of age
- Mentally fit and of sound mind
- Capable of making decisions
- Have no issues with memory
You must also make a will of your own free will. In addition to creating a will, a Dublin estate planning lawyer serving Dublin, OH, or any of its nearby communities can help you:
- Identify the right forms to build your estate plan
- Modify and update your estate plan as needed
- Provide guidance and support for your family after your passing
- Guide you through the process of choosing trustees
There are many other important roles your lawyer can play in creating your estate plan. Because your estate is not identical to any other estate, your estate plan is also uniquely customized to your needs.
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Customizing Your Estate Plan to Fit Your Family
The estate plan of a single, successful, small-business owner will look very different from that of a career-oriented family man with children and grandchildren for whom he wishes to provide. Not only will these estate plans look different, but they will also contain different documents and can take different amounts of time to prepare.
An estate plan can allow you to appoint someone as guardian for your children. If your death will leave minors behind, you can designate someone to serve as their guardian. You can also appoint a guardian to oversee adult children who are physically or psychologically unable to make their own decisions.
Regardless of their age, the person the guardian oversees is known as the ward. According to the Ohio State Bar Association definitions, the guardian you appoint will have a tremendous amount of responsibility. The guardian can:
- Pay the ward’s debt
- Collect debt on behalf of the ward
- Manage the ward’s assets
- Select and make financial investments
- Sell the ward’s assets as needed
Ideally, the guardian you select will always have the best interest of the ward in mind. If you die intestate—without a will or estate plan—the court will appoint someone as guardian. Guardianship is a huge responsibility. A properly executed estate plan lets you choose this influential person to manage the personal care and assets of your parent, spouse, or child.
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Secure the Future with a Comprehensive Estate Plan
The term “estate plan” often leads to thoughts of disposing of property and assets after one’s death. While asset distribution is one goal of estate planning, planning for your future health care needs and for your retirement are also important components of a complete estate plan.
Building an estate plan that encompasses every relevant component is complex and time-consuming. A Dublin estate planning lawyer can help you understand all the important working parts of an estate plan and put your personal and financial affairs in order. Contact the client intake team at Bressman Law today by calling (614) 538-1116 to get started.
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