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Cincinnati Estate Planning Attorney
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“If you don’t have a spouse or children, you might think you don’t need to do much estate planning. However, if you have any assets, any familial connections, any interest in supporting charitable groups – not to mention a desire to control your own future – you do need to... Continue reading
Posted 13 hours ago at Cincinnati, Ohio Estate Planning
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“The wave of people prompted by the COVID-19 pandemic to write their wills is creating yet another wave in estate planning: all the people being asked to one day put those wills into effect.” Executors are frequently relatives or friends designated in a last will as the final administrator of... Continue reading
Posted 4 days ago at Cincinnati, Ohio Estate Planning
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“The word “estate” has always been connected to “ultra-rich” families, those with a lot to leave behind after their death. However, definitions have changed, and anyone who has anything to leave behind needs to plan their estate. “Estate planning” essentially becomes your family’s guidebook, once you are no longer in... Continue reading
Posted 5 days ago at Cincinnati, Ohio Estate Planning
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“Amid news of Bill and Melinda Gates' pending divorce, TMZ recently revealed that the philanthropic couple never signed a prenuptial agreement.” The tabloid secured a copy of the Gates’ divorce filings. The papers show that the couple signed a separation contract they told the court to enforce, rather than a... Continue reading
Posted 6 days ago at Cincinnati, Ohio Estate Planning
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“Army officials expect to unveil their final rule changes for burial eligibility at Arlington National Cemetery sometime this fall, after they finish sorting through significant public feedback on plans to restrict which veterans can choose the site as their final resting place.” In testimony before the House Appropriations Committee, Karen... Continue reading
Posted 7 days ago at Cincinnati, Ohio Estate Planning
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“Estate planning can be an emotional and challenging endeavor. However, here are three tips to make it easier and to help you prepare for the future.” For most people, estate planning and preparation doesn’t rank very high on their “to do” list. There are a number of reasons, but frequently... Continue reading
Posted Jun 7, 2021 at Cincinnati, Ohio Estate Planning
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“In some cases, estate planning can be quite simple. In others, it can be a complex process with far-reaching consequences. In either case, it is important to review your wishes and have the proper documents prepared to ensure that they are followed at your death.” WMUR’s recent article entitled “Common... Continue reading
Posted Jun 4, 2021 at Cincinnati, Ohio Estate Planning
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“Digital assets are part of your legacy. It’s important to plan for how you want them to be managed after you’re gone.” Many states consider the digital accounts you have and access online to be no different from the tangible personal property you own, like cars, real estate and jewelry.... Continue reading
Posted Jun 3, 2021 at Cincinnati, Ohio Estate Planning
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“If you live in California, you likely know it is one of the highest-taxed states when it comes to income taxes. However, there is some good news for those worried about estate taxes. California is part of the 38 states that don’t impose their own estate tax.” There are several... Continue reading
Posted Jun 2, 2021 at Cincinnati, Ohio Estate Planning
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“A popular technique is to use a qualified terminable interest property (QTIP) trust.” Many people have so-called “blended” families, where one or both spouses have children from a previous marriage. Estate planning can be hard for a spouse in a blended family who wants to provide for a surviving spouse... Continue reading
Posted Jun 1, 2021 at Cincinnati, Ohio Estate Planning
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“Pink's COVID-19 battle left her fearing for her life. During a conversation on Mark Wright's Heart radio show, the 41-year-old singer revealed that she went so far as to rewrite her will, when she was ill last year.” Pink and her four-year-old son, Jameson, tested positive for the virus in... Continue reading
Posted May 28, 2021 at Cincinnati, Ohio Estate Planning
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“Payable on death accounts can help streamline the process of transferring certain assets to loved ones, after you pass away.” Also called a “POD” account, a payable on death account can be created at a bank or credit union and is transferrable without probate at your death to the person... Continue reading
Posted May 27, 2021 at Cincinnati, Ohio Estate Planning
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“Under a tax-law exception this year, clients can make a lump-sum 2021 gift of up to $75,000 to fund a 529 college savings account for a child or grandchild (or any other college-bound individual) and claim a federal gift tax exclusion for the full amount.” Grandparents might use this tactic... Continue reading
Posted May 26, 2021 at Cincinnati, Ohio Estate Planning
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“When it comes to estate planning and deciding who gets what, most people concern themselves, understandably, with big-ticket items: investment accounts, real estate, business interests, etc. In doing so, it’s easy to overlook personal possessions, the seemingly mundane items that are part of daily life.” Estate plans often don’t include... Continue reading
Posted May 25, 2021 at Cincinnati, Ohio Estate Planning
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“Wealthy families could face combined tax rates of as much as 61% on inherited wealth under President Joe Biden’s tax plan, according to a recent analysis.” The president’s tax plan proposes to nearly double the top tax rate on capital gains and eliminate a tax benefit on appreciated assets, known... Continue reading
Posted May 24, 2021 at Cincinnati, Ohio Estate Planning
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“Lots of people “forget” to have a will prepared.” If a will is overlooked, state law and beneficiary designations on financial accounts or property will control what happens next. The Williamson Daily News’ recent article entitled “Estate planning ensures your wishes are carried out” explains that intestate succession, which means... Continue reading
Posted May 20, 2021 at Cincinnati, Ohio Estate Planning
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“What are the advantages and disadvantages of a parent transferring the title of a home to a child?” Let us say the parent is 90 and has a will bequeathing a home to a child, a son. The house was purchased 20 years ago for $300,000 and is now worth... Continue reading
Posted May 19, 2021 at Cincinnati, Ohio Estate Planning
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“Who will inherit what from the Duke?” Ninety-nine-year-old Prince Philip died on April 9, marking the end of a long life of service and dedication, as well as a great personal loss for the Queen, who described him as her "strength and stay". The Express’ recent article entitled “Prince Philip... Continue reading
Posted May 18, 2021 at Cincinnati, Ohio Estate Planning
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“When the legendary singer, songwriter and performer Prince died suddenly in 2016, he left an estate estimated to be worth between $50 and $300 million dollars – and no will. Without a spouse, living parents or children, his sister and five half siblings have been battling it out since, in... Continue reading
Posted May 14, 2021 at Cincinnati, Ohio Estate Planning
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“Estate planning isn't just about hard assets anymore. Who will read your email when you die?” Yahoo Finance’s recent article entitled “Who inherits your selfies when you die?” laments that the internet ruins everything, and a simple death is no exception. If asked to close out a family member’s estate,... Continue reading
Posted May 13, 2021 at Cincinnati, Ohio Estate Planning
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“While memorials and tributes continue to pour in, one thing is clear: Prince Philip had clearly defined wishes regarding how he wished to pass, as well as his funeral plan.” Since his recent death, Prince Philip has been remembered around the world as a model of service and a loyal... Continue reading
Posted May 12, 2021 at Cincinnati, Ohio Estate Planning
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“How can we avoid probate and reduce the estate tax for our beneficiaries, who are our two adult children?” Avoiding probate and minimizing estate taxes are sound estate planning goals, but they shouldn’t be the only focus of an estate plan. Nj.com’s recent article entitled “How can we avoid probate... Continue reading
Posted May 11, 2021 at Cincinnati, Ohio Estate Planning
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“You may love your son-in-law or daughter-in-law now, but that could change down the road. So, if you don’t want your money going to your child’s future ex, here’s what you should do.” A frequently question people have when updating their wills with an experienced estate planning attorney, is whether... Continue reading
Posted May 10, 2021 at Cincinnati, Ohio Estate Planning
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“Putting your last wishes on paper is critical to ensuring your family is taken care of when you die.” Young families are always on the go. New parents are busy with diapers, feeding schedules and trying to get a good night’s sleep. As a result, it’s hard to think about... Continue reading
Posted May 6, 2021 at Cincinnati, Ohio Estate Planning
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“Leaving behind a home for a loved one to inherit is a huge gift, but without the right planning, it could be an equally large headache.” Beneficiaries must consider a number of possibilities when they inherit a home, especially if they’re sharing that gift with others. There are tax implications... Continue reading
Posted May 5, 2021 at Cincinnati, Ohio Estate Planning