Estate Planning & Probate Administration
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Regarding the transfer of property during life or at death, owning property in survivorship, designating beneficiaries for property, or transferring real estate by affidavit to avoid probate are matters that everyone should consider while they are alive and healthy enough to make decisions. A Durable Business Power of Attorney is a tool that can be used during your lifetime to help an individual who might not be able to, for physical or mental reasons, handle his or her personal affairs. Additionally, creating your Last Will and Testament would provide directions to your survivors, giving instructions on how to manage or transfer your property after death.
As for issues related to your health, “advance directives” can name trusted individuals to help you to make decisions with regard to your medical care. A Healthcare Power of Attorney would name one or more individuals that would be able to make healthcare decisions in the event the person creating that Power of Attorney is unable to make his or her decisions because of health issues. Additionally, a Living Will is your declaration of your wishes as to your care at life’s end, particularly if you enter into a permanent state of unconsciousness.
Most individuals can develop an effective estate plan to manage their lives and assets without having to create a Trust and transfer property. For complicated planning that includes issues of Medicaid, a referral can be made.
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If you would like to consider Estate Planning, or if you need to review a plan you already have in place, our attorneys will assist you.
Contact us today for a free consultation.
Estate Planning
Estate Planning involves decisions regarding the gifting of property during one’s life or at death and, aside from property or wealth, dealing with end of life issues. It is often thought that estate planning involves complex transactions or that a Trust is required to cover most situations. However, most of the planning for property and end of life issues is far more simple.
Probate Administration
The passing of a loved one can often be a difficult event to deal with. Following the decedent's passing, you or other family members may be responsible for transferring property or other assets.
Many assets could have been marked for automatic transfer to others by the decedent. These may include bank accounts, life insurance, or real property. However, if there are assets or property without a transfer on death or survivorship designation, they must be transferred through the Probate Court.
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If an estate is opened in Probate Court, someone will be appointed as an executor or administrator to handle the estate. If the decedent had a Last Will and Testament, it will often state who they wished to handle dividing their estate. The duties and tasks involved in being an administrator can be difficult and time consuming. Property will have to be inventoried and collected, debts and creditors will have to be dealt with, and the decedent's taxes may need to be handled. Lastly, any remaining assets or property will need to be distributed to the decedent's heirs or individuals designated by a Last Will and Testament or by the laws of Ohio.
Hiring The Law Office of Attorney Malyuk McDaniel Kasper LLC will provide you with expertise for gathering and dispersing assets and property, along with filling out and filing the necessary forms and documents with the Probate Court. The Summit County Probate Court does recommend that an estate executor or administrator seek legal counsel to navigate the required filings and to expedite the probate process.
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If you need assistance with filing and administrating an estate in probate court, our attorneys can assist you.
Contact us today for a free consultation.