Trust and Will Lawyer Ohio
Your Ohio Estate Planning Lawyer for Trusts and Wills
Jarvis Law Office helps Ohio residents plan for the future with wills and trusts.
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Trusts and Wills in Ohio
Does the idea of estate planning make you feel a little uncomfortable? If so, you’re not alone. You can’t help but confront your own mortality when considering an estate plan, which is hard for everyone. However, it’s risky to grow older without a comprehensive plan. Without an estate plan, you are essentially handing over control of your estate to the state of Ohio after your death. The state will choose who receives your assets and cares for your minor children. Also, the state will decide who will care for you and who will control your money if you are alive but can no longer make decisions.
Fortunately, an estate planning attorney can help you maintain control with irrevocable and revocable trusts and wills. An Ohio estate planning lawyer can also help with special needs trusts and a full range of legal issues related to your estate plan.
What is a Will?
Your Ohio trust and will lawyer will likely recommend that you draft a will. The will is usually the foundation of a comprehensive estate plan and allows you to choose who will receive your property and care for your minor children. Your will won’t go into effect until you pass away. That means that as long as you are of sound mind, you maintain legal authority and can revoke or modify it whenever you wish.
Your will must go through probate court after you pass away. Once it clears probate, the estate executor will distribute your property according to your instructions.
Your estate planning attorney can assist with the entire process, from drafting the will to representing your family during probate. Then, you and your family won’t have to worry about what will happen to your estate.
However, most people want to avoid probate. Since the will is the set of instructions for probate, a Will may not be what you want to direct the distribution of your assets upon your passing.
Probate can be avoided. A living trust is a good tool for doing that and providing direction during your lifetime as well as upon your passing.
What is a Trust?
A trust is just another way to hold your stuff. A trust can put instructions in place to address multiple possibilities or scenarios. It is a much more flexible tool than a will.
A trust is a legal tool created by an individual, or grantor, to secure their assets and guide their distribution after death. It can simplify the often lengthy, public, and potentially expensive probate process for families and beneficiaries. The trust is outlined in a legal document detailing the terms and assigned assets. The grantor appoints a trustee to manage these assets for the beneficiaries’ benefit. Living trusts can be either revocable or irrevocable, each with different tax implications and degrees of flexibility.
Your trust and will lawyer might recommend a trust after reviewing your estate. While there are lots of options, all trusts have three main components. First, there is the creator of the trust. Then, there is the trustee and, finally, the beneficiary or beneficiaries.
When you create a trust, you transfer assets into it. Depending on the type of trust, it might shield the assets from creditors and taxes.
Your lawyer will explain your options, including revocable trusts, irrevocable trusts, special needs trusts, asset protection, and Medicaid planning trusts. Then, you can decide which option makes the most sense for you and your family.
Top Benefits of Trusts and Wills
- Designate beneficiaries
- Name a guardian for minor children
- Avoid a conservatorship or guardianship
- Protect assets
- Avoid Probate
- Saves time and money
Is It Possible to Cancel a Trust?
When Do I Need a Trust and/or Will?
You cannot start too early when it comes to estate planning. And you don’t need to be embarrassed if you haven’t taken any steps yet. Whether you are a young adult or enjoying your golden years, it’s the ideal time to create a will or trust. Once you set up the will and/or trust, you should review your estate plan regularly to see if you need to modify it. Your attorney can assist with this as well.
The most important step is getting started!
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Why Choose Jarvis Law Office?
- Free Consultation – Discuss your needs during a complimentary consultation with Jarvis Law Office. We can consult virtually, so you don’t have to visit the office.
- High Satisfaction Rate – Our clients have left reviews praising our knowledge, experience, and helpfulness. We have a track record for high-level service and customized solutions.
- Focused Practice Areas – We focus exclusively on the area of elder law.
- Three Convenient Locations – We have offices in Lancaster, St. Clairsville, and Dublin, making it easy to reach clients throughout Central and Southeast Ohio.
- Free Events – Our firm offers free events for Ohio residents. These events cover essential estate planning issues, such as how to pay for long-term care while protecting your assets.
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Frequently Asked Questions
A will is a legal document that outlines how your property and assets should be distributed after your death. A trust, on the other hand, can be used to transfer property and assets during your lifetime or after death. The main difference between the two lies in the legal process involved. Wills must go through probate court, a process that can be time-consuming and costly, whereas trusts avoid probate court, allowing for a more seamless transition of assets. As an Ohio estate planning lawyer, we can help you understand these differences and choose the best option for your situation.
Please note that the information provided here is general in nature and should not be considered legal advice. It is recommended to consult with an attorney from Jarvis Law Office to obtain personalized advice based on your specific circumstances.
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