Wills, Trusts, and Estate Planning Documents
Estate Planning
Preparing a comprehensive estate plan, including a Last Will and Testament, Living Will, Durable Power of Attorney, Health Care Power of Attorney, and a Trust, will provide you with the peace of mind to focus on enjoying your time with family and friends, knowing that you have adequately planned for your future, and the future of your family, friends, and favorite charities once you have passed on. Estate planning is state-specific, so it is important to have your will and other estate-planning documents drafted by an Ohio Estate-Planning lawyer. The Estate-Planning Attorneys at Hallowes Law Group LLC are well-versed in creating a comprehensive estate plan for you and your loved ones, and will provide you with the guidance and personal attention required to meet your estate-planning goals.
A Last Will and Testament is a legal document that declares how a person’s property (also called an “estate”) will be managed and distributed after his or her death.
A Living Will sets forth your wishes relative to certain end-of-life issues, such as how long to continue life support and artificial nourishment, along with other health-care directives.
A Health Care Power of Attorney designates someone to act on your behalf to make medical decisions if you are incapable of making those decisions yourself, without the need of proceeding to court for an appointed guardian. Additionally, a Health Care Power of Attorney allows you to make choices on making anatomical gifts for transplants or medical research.
A Durable Power of Attorney identifies someone as an “attorney-in-fact” who can handle your financial and business affairs without the expense of establishing a court-appointed conservatorship.
A Trust exists when one individual gives property to another individual (i.e. Trustee) to manage and hold for one or multiple other individuals (i.e. beneficiaries). Certain types of Trusts may allow you to avoid the Probate process in Ohio. Additionally, Trusts offer privacy because the terms of the Trust are not a matter of public record (Wills are public record). A Trust provides a number of additional advantages including control, lower court costs and fees, and the increased speed by which assets may be transferred.
Our Ohio Estate-Planning Attorneys can guide you through the documents needed and provide you with a comprehensive estate plan or a specific document if your current plan is not sufficient. Additionally, it is important to remember that your estate plan should be updated whenever a significant event occurs (e.g., marriage, birth of a child, death of a family member, significant increase in assets, etc.). Life is anything but predictable, and it is imperative to be prepared with a comprehensive estate plan to ensure that you and your family are cared for in any situation.