Under Ohio law, a trustee has a duty to communicate with beneficiaries. A trustee's responsibilities may include giving beneficiaries a copy of the trust document, providing information about the anticipated timeframe of trust administration, and preparing an annual accounting form. Unfortunately, some trustees don't do this, leaving beneficiaries in the dark. If your trustee is unresponsive to your requests for information, you can examine the contact method, get an attorney involved, a file a petition with the court.
Life insurance has helped many people provide for their loved ones in the way they had envisioned. Many different types of people can benefit from having adequate life insurance coverage, including business owners, parents, and caregivers.
If you're an art collector or art maker, your work deserves to be preserved and protected. A sound estate plan, crafted by an experienced estate planning attorney, can help you do just that. The process begins by cataloging your artwork, appraising your artwork, and accounted for it in your estate planning documents.
A grantor trust is a revocable trust in which the grantor (the person who created the trust) retains control over the assets put into trust. This means the trust is not taxed, instead, the grantor is taxed for the assets. It's important to discuss which type of trust is right for you with an experienced estate planning attorney.
If you own cryptocurrency, it should be accounted for in your estate plan. Be aware of potential tax consequences and changing laws.
When you slip and fall on a business’ property, you may be entitled to damages. In Ohio, these types of claims are called “slip and fall” accidents. Compensation can vary based on what caused your slip and fall, what you were doing at the time of your accident, and the severity of your injuries.
If you are involved in a car accident in Ohio, it is important to be aware of your rights as a victim. You may be entitled to compensation for your injuries, damages to your vehicle, and other losses. An experienced auto accident lawyer can help you understand your rights and options following an auto accident.
In a financial power of attorney, you choose a trusted decision maker (your agent) to act on your behalf if you become incapacitated. This could be from a mental or physical illness. Depending on the provisions you choose to include, your agent could have the power to buy and sell property in your name, manage your retirement accounts, change your estate plan, and more.
While vaccines can help with the prevention of contagious disease, the reality is that in some cases, they can cause an adverse reactions or serious injury. In 1986, Congress passed the National Childhood Vaccine Injury Act (NCVIA) which created the National Vaccine Injury Compensation Program (NVICP). It established a federal, “no-fault” system, by which people could pursue compensation for vaccine-related injuries through the United States Court of Federal Claims.
A CRT is a great way to pursue your philanthropic goals while also providing for yourself or other beneficiaries listed in your trust and can be a very important tool in minimizing your overall tax burdens. It is one of many estate planning tools you can use to protect your assets and provide for your family after your death.