In an effort to save time and money, some families may be turning to ‘do-it-yourself’ will kits, but there may be flaws to these estate planning forms.
Wills & Trusts
Estate Planning Q&A: Does Ohio Recognize the No-Contest Clause?
A no-contest clause (also known as an in terrorem clause) is language in your Will that essentially gives your beneficiaries a choice: either take what you’ve given them or challenge the Will and get nothing instead. There are some variations to this language of course – some people just reduce the amount of the inheritance […]
How Specific Should I be in My Last Will?
Is it a good idea to specify in my last will or trust which of my family members will inherit my household goods and personal items? Yes, usually. Those items often have sentimental value well in excess of their monetary value and can lead to family friction. You might consider asking your family who wants […]
Who Needs a Trust?
Who needs a trust? Neither age nor the amount of assets you own should determine if you need a trust. If any of the following applies to your situation, you should seriously consider creating a trust to manage your assets during your lifetime and to distribute your property when you die: Is it your wish […]
What if I Want to Exclude a Child From Inheriting?
If I want to exclude a child from inheriting from me, do I need to say that in my will or trust? The answer depends upon the laws of the state where you live when you die. If you are an Ohio resident, you need only acknowledge that that child exists and do not need […]
