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Category: Probate

Probate services refer to the legal services provided to individuals or families involved in the administration of a deceased person's estate. These services typically involve the court-supervised process of distributing the deceased person's assets and properties to their beneficiaries or heirs according to their will or state laws if there is no will. Probate services may include drafting and filing legal documents, representing clients in court, resolving disputes between beneficiaries, managing estate assets, and advising clients on tax implications and strategies for asset protection. The goal of probate services is to ensure that the estate is distributed in an orderly and fair manner while minimizing costs and maximizing the value of the estate for the beneficiaries. Probate services are often provided by lawyers, but may also be provided by other professionals such as estate planners or financial advisors.

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A Will Alone Is Not Enough to Avoid Probate: Beyond Basic Estate Planning

Learn the critical reasons why a will alone is insufficient for a comprehensive estate plan, and why incorporating trusts, beneficiary designations and incapacity planning is essential to ensure a seamless and protected transfer of your assets to your loved ones.
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Posted on: March 8, 2024
Medina Ohio estate planning attorney

Estate Planning for High Net-Worth Individuals with Residual Income

Residual income, especially prevalent in the entertainment industry, refers to ongoing payments received for work done in the past. This income can stem from royalties in TV shows, movies, music, or books. A notable example is the late Matthew Perry, whose role in Friends brought him substantial residuals, as highlighted in a CNBC article. The Importance of Estate Planning for Residual Income For individuals with significant residual income, estate planning is crucial. It ensures that their assets are distributed according to their wishes and can help mitigate complex legal and financial issues after their passing. Case Study:…
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Posted on: January 5, 2024
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Which Trust, Revocable or Irrevocable?

There are important differences between the two types of trusts, including the amount of control you'll have over your assets.
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Posted on: September 30, 2023
Hudson, Ohio medicaid law firm estate planning

Which Is the Best to Way to Transfer Wealth, Trusts or Wills?

Take the squabbling between siblings you've had to endure and referee as a parent. Now multiply it times age and money. That might give you some idea of the need to make your final wishes clear when the time comes to divvy up your assets.
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Posted on: August 18, 2023
estate planning medicaid planning asset protection

Pros and Cons of a Will vs. a Trust

Either a will or trust can be the foundation of your estate plan. If it’s a trust, it’s usually a revocable living trust.
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Posted on: July 28, 2023
estate planning medicaid planning asset protection

What are Benefits of Creating a Life Estate?

By understanding the features of a life estate and creating one at the right time, you can reap the following benefits….
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Posted on: July 21, 2023
estate planning lawyer akron, estate planning attorney near me, will, Wadsworth estate planning lawyer

What Are the Consequences of Dying Intestate?

If you die intestate, this means that you died without a valid will in place. Learn more about the consequences here.
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Posted on: July 14, 2023
Wadsworth Ohio estate planning attorney

Should You Put Your Child’s Name on the Deed to Your House?

If a child you’ve added to your deed goes through a divorce, has tax issues, is sued by someone, or must declare bankruptcy, your house could be on the chopping block!
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Posted on: July 7, 2023
Ohio probate court

Is Aretha Franklin’s ‘Voice-from-the-Grave’ Having an Impact on Litigation Over Estate?

“Thursday brought one of the most dramatic courtroom moments so far in Aretha Franklin’s long-running estate saga, as a judge heard 20 minutes of newly uncovered voicemails left by the Detroit star shortly before her death.” In some voicemail messages from May 2018, Aretha Franklin mentions her desired adjustments to a will recently drafted by […]
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Posted on: May 12, 2023
estate planning medicaid planning asset protection

Communication is Key in Generational Estate Planning

For most families, the estate planning process is more involved than simply naming beneficiaries. While the primary goal of estate planning is transferring assets in an orderly and tax-efficient manner, it’s just as important to focus on preserving wealth across generations.
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Posted on: May 10, 2022
Estate Planning In The Cities Of Medina, Wadsworth, Hudson, Stowe and Copley

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