The 4 Questions to Answer Before Making Gifts [Part 1 of 4]

In our estate planning and elder law practice, we talk with many clients who are interested in making significant gifts of assets during their lifetimes to their children.  Anytime we meet to discuss lifetime gifting, we inevitably discuss 4 topics of consideration: 1.  Will the gift create federal gift tax problems? 2.  Will the gift… View Article view article

The One Major Oversight When Organizing an LLC

It’s relatively easy to establish a limited liability company (LLC) with the state of Ohio.  The Secretary of State has forms.  Anyone can fill out a form, sign as statutory agent, sign as a representative of the LLC, and send it to Columbus to file.   When the form is processed in Columbus the new LLC… View Article view article

[Video] FAQ: How do Beneficiary Designations Impact My Estate Plan?

New Frequently Asked Questions Video: FAQ: How do Beneficiary Designations Impact My Estate Plan?   view article

The Importance (and Sometimes Unintended Consequences) of Beneficiary Designations

These days, almost every asset can be assigned a beneficiary (or beneficiaries) to inherit that asset upon the owner’s death.  The most common form is the “POD” or “TOD” designation on bank accounts, savings accounts, investment accounts, IRAs, 401(k)s, life insurance, annuities and other investment products.  However, it’s also possible to name beneficiaries for real… View Article view article

A Will for Generation Y

Many individuals comprising younger generations aren’t thinking about estate planning.  That’s understandable.  These days, many people expect to live well into their late 80’s and beyond.  People in their 30’s are worried about accumulating wealth, not how to distribute it to their kids (particularly when the kids aren’t even in school yet).  So why not… View Article view article