Changing Your Estate Plan in Ohio

It is also important to note that as a person's life changes, so should their estate plan.

2012-11-22

November 22, 2012 (Press-News.org) Changing your estate plan in Ohio

Estate planning is often a complicated issue filled with details and possibilities that are difficult to foresee. An estate plan should be reviewed regularly to ensure that it is accurate and up to date. It is also important to note that as a person's life changes, so should their estate plan.

Importance of updating an estate plan

Estate plans tell the court system how to deal with all of a person's assets and belongings once his or her time has passed. These assets are often extremely important to friends and family members, and can lead to a great deal of disagreement if there is not a proper estate plan in place.

To avoid potential conflicts and divide property according to the owner's wishes, having a clear and up-to-date estate plan is essential. Making regular updates is essential, since an accident may happen at any time and could leave loved ones cut out of an inheritance if the estate plan is out of date.

Events that require a change

Several life events in particular should prompt people to look at their estate plans and make proper changes. Two such events include marriage and divorce. When people add a new spouse to their lives, or remove a previous spouse, their estate plans should accurately reflect those changes.

Purchasing or refinancing a home, as well as creating new accounts, are also events that require a change to the estate plan. In many cases, real estate should be placed in a trust in order to receive all possible benefits. The same applies to new accounts. Having these accounts properly noticed and written into assets may prove to be extremely beneficial in the future.

Lastly, when people have children, their estates must be modified. Having or adopting a child is an amazing experience. However, children may not get all of the assets that a parent or grandparent wants them to unless they are specifically mentioned in an estate plan. Making this change as soon as possible is the safest way to ensure that a child is taken care of in the event that unexpected circumstances arise.

Making the change

When a decision has been made to either create or update an estate plan, calling upon an experienced estate-planning lawyer in Ohio is the first step to make. These attorneys will take a detailed look at all of a person's assets and ask questions to make sure all angles are covered. They will then work to ensure that everything is written down and properly accounted for. Hiring an estate-planning attorney is advisable in order to ensure that estate will be transferred smoothly when the time comes.

Article provided by Baxter & Borowicz Co. LPA
Visit us at http://www.baxterandborowicz.com

ELSE PRESS RELEASES FROM THIS DATE:

Texts Can Be Problematic for Divorcing Couples

2012-11-22

Texts Can Be Problematic for Divorcing Couples Illinois couples who are involved in contentious divorce proceedings need to be careful about what they do and say, so as not to provide the opposing party with ammunition to use against them. That holds for electronic media communications, too, such as Facebook and e-mail, as many people realize. What divorcing spouses may not realize is that their text messages can also be a gold mine of information, usable in court. A private investigator for Pinkerton explained that text messages are stored in cell phones, whose memory ...

Recent Legislation in New Jersey May Slow Soaring Foreclosure Rates

2012-11-22

Recent Legislation in New Jersey May Slow Soaring Foreclosure Rates No homeowner wants to receive a letter in the mail warning of an upcoming foreclosure. Unfortunately, more and more homeowners in New Jersey are receiving these notifications. According to RealtyTrac, a firm that follows foreclosure rates nationwide, New Jersey saw a 66 percent increase in foreclosures this year. Although government officials have limited ability to stop foreclosures, a new piece of legislation should at least help ensure homeowners are treated fairly. The new law, called the Foreclosure ...

California Docs On Hook For Injuries Caused By Ailing Elderly Patients?

2012-11-22

California docs on hook for injuries caused by ailing elderly patients? A recent wrongful death case brought in a Los Angeles courtroom looks to clarify what - if any - responsibility that physicians treating elderly patients with neurological deficits caused by such conditions as dementia or Alzheimer's have for torts committed by those patients. The potentially landmark case arises from a 2010 motor vehicle accident where an octogenarian dementia patient drove into oncoming traffic with catastrophic results. The accident The spring 2010 day of the accident began ...

Alimony Reform May Be on the Horizon in New Jersey

2012-11-22

Alimony Reform May Be on the Horizon in New Jersey Recent attempts at alimony reform in several other states have prompted advocates for alimony reform in New Jersey to renew efforts at introducing legislation that would limit the ability of judges to award lifetime alimony. New Jersey is one of the few states in the nation that allow judges to award lifetime alimony, even past retirement age, for marriages that last as little as 10 years. Under current New Jersey law, judges use several factors to establish alimony, including the length of the marriage, the ability ...

Police Search Of Salt Lake City Home Yields Four Pounds Of Meth

2012-11-22

Police search of Salt Lake City home yields four pounds of meth Two Salt Lake City men were arrested recently after police discovered four pounds of methamphetamine in one man's home and large amounts of cash in both homes, the Salt Lake Tribune reported. The first man was arrested after officers searched his home and reportedly found the drugs in a spare bedroom. The police say the man had admitted to having the drugs and claimed that he had been paid by the second man to hold them. Along with the drugs, the charges indicate that police discovered $9,490 in cash at ...

Trying To Keep Florida Pedestrians Safe

2012-11-22

Trying to keep Florida pedestrians safe Floridians may not consider walking a dangerous activity. However, nearly 500 pedestrians died in traffic accidents in Florida in 2010, the most recent year data is available, according to the National Highway Traffic Safety Administration. That's second only to New York among the states, and almost twice the national average per state. Pedestrian fatality numbers are up Nationally, pedestrian deaths increased by 4 percent from 2009 to 2010, NHTSA data shows. The NHTSA report notes 13 percent of traffic fatalities involved ...

North Carolina DWI Arrests Increase over the Holidays

2012-11-22

North Carolina DWI arrests increase over the holidays Drinking and driving is a big concern because of the extensive damage it causes. In order maintain safety on the roads, police departments step up patrols over the holiday season--a time when more people are tempted to drink and drive. However, those who may be inclined to tempt fate should know a DWI charge does have significant legal and non-legal repercussions. Increases over the holiday season Recently, North Carolina has worked to follow their new Booze It & Lose It campaign. This campaign basically ...

US Supreme Court: Drug-sniffing dogs and the 4th Amendment

2012-11-22

US Supreme Court: Drug-sniffing dogs and the 4th Amendment Recently, two men from Illinois were pulled over while driving in South Dakota. Although the two were stopped by a police officer due to an unrelated traffic violation, a drug-sniffing dog was brought to the side of the vehicle. A subsequent search of the car reportedly uncovered 62 pounds of marijuana. The two men are now facing felony drug possession charges, for possession of cocaine, over 10 pounds of marijuana and drug paraphernalia. While the U.S. Supreme Court has previously held that a dog sniffing ...

J.D. Edwards Announces Publication of the Novel, Brander

2012-11-22

Today, in the city of Raleigh, J.D. Edwards announced immediate availability of his long-awaited fantasy novel, Brander, enabling his fans to instantly purchase this sensational new work of fiction. Positive World-Wide Acclaim "Brander is a very easy book to read, clear and comprehensible. You start turning the pages and you immediately plunge into this new world, full of fantastic creatures and magic. It's hard to stop, because you always want to know what happens next." - Marine S., Lyon, France "Hold on Tight! A fast flowing novel that will enchant ...

Louis Bencardino and Bencardino Excavating Hired to Handle Demolition and Renovations at Williams Way Senior Housing Project

2012-11-22

Bencardino Excavating (www.bencardino.com), a full-service excavation company located in Bucks County, Pa. and owned by Louis A. Bencardino, was hired by Philadelphia-based general contractor Domus to handle demolition and renovation work on the Williams Way Housing Project in Center City. Specifically, Bencardino Excavating will handle demolition and excavation site work which includes undercutting the existing material, installing sanitary storm and water for the building and all of the foundation excavation. A collaborative venture between Spruce Street Senior ...

Changing Your Estate Plan in Ohio

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: