Estate Planning Attorneys Sheffield Village
It is never too early to draft a comprehensive estate plan. Estate plans ensure that your assets are distributed to the people you love in the manner that you choose. Those without estate plans have their assets distributed in accord with state laws and the application of an algorithm. While this might work for some estates, it may not work for yours. The Sheffield Village estate planning attorneys at Kryszak Law Firm, Co., LPA can help you draft a full estate plan that meets the needs of your family members when you pass.
Services provided by our Ohio estate planning attorneys
Kryszak Law Firm, Co., LPA can provide any of the following services to our clients:
- Last will and testament – Your last will and testament is a document that can manage your assets when you pass. It needs to be notarized and signed by two witnesses. Attorneys help clients draft last wills and testaments that hold up in court and cannot be disputed by angry relatives. The will also names whichever individual will act as executor of your estate.
- Durable power of attorney – In the event that you become incapacitated, you will want to establish someone who has power of attorney over your financial matters. This person will be authorized to act in your best interests if you can no longer make those decisions for yourself. Spouses and adult children are often selected as POAs.
- Ohio living will declarations – A living will is a document that details what type of medical services you want under special circumstances. This can include do not resuscitate orders, whether you want to be on artificial life support, and what types of procedures you authorize doctors to perform when you are unable to give consent yourself. A living will speaks on your behalf when you are unable to.
- Ohio health care power of attorney or health care proxy – A living will establishes your wishes when you are unable to establish them yourself. You can also assign a trusted family member or friend as your health care proxy. They would be authorized to make decisions on your behalf if you are unable. They cannot countermand directives in the living will, but they can make the same decisions they believe you would make under the same circumstances.
Setting up a trust in Ohio
While the four essential estate planning documents are covered above, you may also opt for a trust to hold and distribute assets. The benefit of a trust is that it is triggered immediately upon your death and distributes directly to your heirs as opposed to passing through probate. Those with tax considerations can transfer assets out of their estate by using a special type of trust. It will cost less to administer an estate that transfers assets through a trust. It will be more difficult for creditors to sue against a trust than it would be to come after assets passing through probate. While not everyone will need a trust, trusts can be a powerful legal vehicle for those who want to avoid exposing their assets to probate.
Talk to a Sheffield Village Estate Planning Attorney
The Kryszak Law Firm, Co., LPA helps Sheffield Village, OH residents prepare the essential estate planning documents they need to give them peace of mind. We also offer trusts for estate planning and more. Call today to set up an appointment, and we can discuss your options moving forward.