Failing to file probate can lead to significant legal complications and risks, especially for heirs, creditors, executors and estate administrators. Additionally, it may give rise to litigation, which can be time-consuming and costly.
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3 Estate Planning Considerations for New Home Owners
Whether this is your first home or you're upgrading or downsizing, purchasing a home is a big event in life. When major life events occur, it is important to update many different entities and documents.
How to Protect Yourself Against Claims of Self-Dealing as a Trustee
As a fiduciary, a trustee must act in the best interest of the trust's beneficiaries. Trustees are prohibited from self-dealing. They cannot use the trust's assets for their own benefit as opposed to the beneficiaries' benefit. Self-dealing can be much harder to identify in practice and is often done accidently. There are some safe harbor rules that can you can follow to prevent yourself from getting sued.
Global Legacy Planning: Navigating International Estate Planning and Asset Management
In today’s interconnected world, individuals often find themselves with assets and interests spanning across multiple countries. From investments in foreign markets to properties overseas, the global citizen faces unique challenges when it comes to estate planning.
How to File a Transfer-On-Death Deed in Ohio
If a living trust doesn't make sense for your situation, but you still want to avoid the probate process, a transfer-on-death (TOD) deed may be the solution. When you die, the TOD deed (also know as a beneficiary deed) works to automatically transfer the property to your named beneficiaries without having to go through probate. If you change your mind during your lifetime about whom you have named as beneficiaries in the TOD deed, you can amend or revoke it at any time.
Using Real Estate Deeds in Estate Planning
When using trusts in estate planning, a key element includes transferring the trust maker's real estate into the trust by recording a deed with the local recording authority. This step is crucial for ensuring that the trustee has the authority to manage and ultimately sell or transfer the property should the trustmaker become incapacitated or die. Several types of deeds can be used such as a general warranty deed, a quitclaim deed, or a special warranty deed.
TOD vs Quitclaim vs General Warranty Deeds in Ohio
Understanding the differences between Transfer on Death deeds, Quitclaim deeds, and General Warranty deeds is crucial for homeowners, especially when it comes to estate planning.
Why You Should Avoid Probate in Ohio
Having a will is a helpful first step in basic preparation. But it does not prevent probate. A will simply allows you to communicate your wishes to the probate court. Your loved ones still must go through the probate process to legally enforce your wishes.
How to Avoid Probate in Ohio: Essential Strategies
Probate is the legal process through which a deceased person's estate is administered. While it serves a necessary function in settling debts and distributing assets, it can also be time-consuming and expensive. In Ohio, probate can take anywhere from several months to over a year, and costs can include court fees, attorney fees, and other administrative expenses. By understanding these implications, you can take steps to avoid the probate process altogether.
Frequently Asked Questions About SIRVA
SIRVA, or Shoulder Injury Related to Vaccine Administration, is a condition that has garnered increased attention as vaccination campaigns have expanded globally. While vaccines are crucial for public health, some individuals have reported shoulder injuries following vaccination. Understanding SIRVA is essential for those who may experience this condition, as well as for healthcare providers and employers involved in vaccination efforts.