Legal-Ease: Practical estate planning considerations

Lee R. Schroeder is an Ohio licensed attorney with Schroeder Law LLC in Ottawa. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at (419) 523-5523. 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.

While not all of us will have millions to give away upon our death, confusion and discrepancies can arise during the settling of an estate, no matter how substantial its resources.  To avoid many of these painful disputes, Lee recommends a number of practical tips for planning the settling of your estate.

Each of us has probably sometime dreamed of winning the lottery or receiving an unexpected inheritance from a long-lost relative.

Recently, a lady with a $300 million net worth died. After her death, her relatives contested the will because the lady had given $31 million to her nurse and several million dollars each to her attorney and her accountant. Those gifts were given either verbally while she was alive or in her will for distribution after her death. The lady also instructed that a large amount of money was supposed to be used to create a new charity after her death.

Read more about what to consider when planning an estate in Lee’s post in the Lima News here: Legal-Ease: Practical estate planning considerations

Source: LimaOhio.com, “Legal-Ease: Practical estate planning considerations,” by Lee R. Schroeder, February 21, 2015

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