A good lawyer’s advice is important for good outcomes in life, business and death. There are four primary frameworks to begin to prepare for life changes.
First, identify the special financial gifts you want to give upon your death. Second, percentages can be used to distribute assets. Third, specific assets can be earmarked for certain people. Finally, many people will mix and match the frameworks, so good organization is key.
Many of us have heard about an accident, an unexpectedly early death or an extended stay in the nursing home that leads to a life savings lost or unnecessary hard feelings among kids and grandkids that last generations. None of us want outcomes like that. How do we avoid those negative outcomes?
I cannot overemphasize the need for a good lawyer’s advice to lead to positive outcomes in any aspect of life, business and death.
Read more about the four key planning frameworks in Lee’s article in the Lima News here: Legal-Ease: Four planning frameworks
Source: LimaOhio.com, “Legal-Ease: Four planning frameworks,” by Lee R. Schroeder, February 23, 2019
Lee R. Schroeder is an Ohio licensed attorney at Schroeder Law LLC in Putnam County. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at Lee@LeeSchroeder.com or at 419-659-2058. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.