Sometimes, clients visiting my office will say that they know that they need to do “something” regarding estate planning (maybe a new will?) but have no idea what goals they should be pursuing. Set forth in this column are five primary goals that you might consider to be the “ultimate objectives” of your estate planning.
First, ensure that the “stuff” that you have goes to whom you want when you die. The old and accurate saying is that when we die, we cannot take anything with us. Ohio law has a default set of rules that provides for the distribution of someone’s possessions when that person dies. However, that default distribution is seldom an accurate reflection of each person’s unique wishes, especially in big or blended families.
Second, ensure that administrative expenses are minimal. Keeping administrative costs down in the process of distributing someone’s assets after death is usually accomplished by ensuring that there are contracts…
read more at https://www.limaohio.com/top-stories/433247/legal-ease-five-primary-goals-in-estate-planning