Estate planning is one of the most important, proactive steps you can take for your loved ones. It is never too early to begin the process.
Thinking about and planning for a time when you will no longer be with your loved ones is not pleasant, but is necessary to help your family. The probate process after your death depends upon whether you made legal plans for your estate.
If you want to leave an easier time for your family after you are gone, a Marion estate planning lawyer from Bressman Law can help you. Call us now to learn more about your options at (877) 538-1116.
The Importance of Estate Planning
When it comes to planning for the future, it is easier to plan for a vacation than to plan for your passing.
Estate planning provides a certain level of comfort via knowing your final wishes and what should happen to your estate—through a legal document. Here are just a few of the more specific reasons why estate planning is important:
- You get to decide what happens to your estate, not the state itself
- It can prevent family drama and fighting over your assets
- It can serve as way to save money on taxes
- It can ease your family’s stress as they mourn your passing
- It can serve as a plan for young children in the event of your untimely death
Working with a Marion estate planning lawyer can make the process easier. A lawyer can alert you to any changes in Ohio estate laws and can adjust your plan if your desires change.
For a free legal consultation with a lawyer serving Marion, call (877) 538-1116
Understanding Probate Law
Investopedia defines probate as “the general administering of a deceased person’s [estate].” Where probate can become messy is in cases where the decedent left no will.
The court must assign an administrator to determine how to divide the deceased’s assets. The administrator—acting on behalf of the court—may administer your assets in a way that leaves some beloved family without an inheritance.
Probate is problematic for those without a will for the following reasons:
- It is time-consuming
- It is costly, due to court fees
- It is not private, but rather on public record
- It can result in broken family relationships
Estate planning with a will can make the probate process much smoother. While the court must still process your estate for settlement, a will reduces or prevents any of the headaches listed above.
Losing a close loved one is difficult enough. Emotions often run high and tempers may flare during probate. An estate plan can help to ease tension—without one, your family must deal with added stress.
If you want to avoid possible conflict and stress for your family after your death, consider estate planning. Call Bressman Law now to learn how our friendly and professional team can help you protect your final wishes: (877) 538-1116.
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Sibling Rivalry Can Affect Probate
Siblings are often at the forefront of most family battles regarding inheritance. Disinheriting a child, although perhaps emotionally difficult, is legal.
For those who remain entitled to a portion of your estate, fighting over family heirlooms and financial assets is often all too common. There are steps you can take to prevent this from happening between your grown children:
- Gift special items while you are still alive: this allows you to see the joy of them receiving the item
- Ask for a list of a certain number of items: have your children write a list of three or more items they would like to have from your estate
- Tag items: mark items designated for certain family members and make note of it in your will
- Charities: explain to your children in advance why you plan to designate money to a particular charity
There is nothing you can do that will appease all your children equally. Learning to focus on what matters most to you and your lifelong collection of assets is key to estate planning success.
Bressman Law Can Help You with Your Estate Planning Needs
Planning for what happens to your estate after you die can ease your mind that your affairs are in order. It is perhaps one of the most loving things you can do for your family in preparation for your death.
You do not—and should not—wait for a terminal diagnosis to plan your estate. A sudden event, like that of a car accident or a heart attack—can result in your untimely death and a legal mess.
A Marion estate planning lawyer can help you prepare for the unknown. While it is an easy task to delay, make the first step now toward better peace of mind tomorrow.
Our team can discuss your options based upon your wishes. Do not leave the distribution of your estate up to the courts. Be proactive by legally documenting how you want your assets distributed upon your death.
At Bressman Law, our team is approachable and we take care to explain the law in a way that is easy to understand. No one wants to think about death, yet it is inevitable for all of us. You have spent your life building assets that you want protected. An estate plan can help make that possible.
The ultimate goal of an estate plan is to make the process easier for those left behind. While you may not make everyone happy with your wishes, it is your legal right to distribute your assets as you see fit.
To learn more about how we can help you, reach out to Bressman Law today. Call us now regarding your estate planning needs: (877) 538-1116. We serve Marion residents and those in the surrounding area.