Posted by Joshua Gunsher, Esq. | Mar 12, 2024 |
When creating your estate plan, your choice of executor is crucial. Ultimately, they will be the one who manages your estate and distributes property according to your wishes.
Often, parents look to one of their adult children to fill the role of estate or will executor. While there are certain b...
Posted by Joshua Gunsher, Esq. | Mar 05, 2024 |
Adults should have an estate plan in place that outlines end-of-life decisions and what should happen with their assets when they die. Estate plans may have many components that all relay a creator's wishes.
Trusts are valuable estate planning tools that allow a creator to set terms based on what...
Posted by Joshua Gunsher, Esq. | Feb 23, 2024 |
What is the appropriate response to a loved one asking you to be their estate's executor? Should you accept the role? Won't refusing the appointment affect your relationship going forward?
Here are four factors to help you make a decision:
The complexity of the estate
Typically, executors handlin...
Posted by Joshua Gunsher, Esq. | Feb 14, 2024 |
A will can ultimately decide how an estate is handled after a testator's passing. However, a will might be challenged. This can cause the probate process to linger and may disrupt the distribution process. Yet, a contested will might also protect a testator's last wishes.
Here are a few reasons a...
Posted by Joshua Gunsher, Esq. | Jan 31, 2024 |
You want to ensure that your will is valid so that your wishes are carried out after your death. However, things do not always work out as intended, and there are several reasons why a will might be declared invalid. Understanding the common pitfalls of will writing will help you avoid rendering ...
Posted by Joshua Gunsher, Esq. | Jan 18, 2024 |
Asset distribution and inheritances take up most of the estate planning process. However, there are other important elements that shouldn't be overlooked, such as nominating guardians for minor children.
A guardian is someone who can make sure your child remains safe and secure should something ...
Posted by Joshua Gunsher, Esq. | Jan 02, 2024 |
The probate courts in Ohio oversee the distribution of people's property and the administration of their estate after they die. The oversight provided by the probate courts helps ensure that the personal representative of someone's estate follows their instructions regarding their property. The c...
Posted by Joshua Gunsher, Esq. | Jan 01, 2024 |
When people make their estate plans, they often think that it's the house, the investments or the cars that have the biggest potential to cause family conflict.
In reality, it's probably the small things – family keepsakes and treasured heirlooms – that can create the most strife. A lot of peopl...
Posted by Joshua Gunsher, Esq. | Dec 18, 2023 |
People often think that it sounds logical to put off estate planning until they retire. For one thing, this means that they will theoretically be closer to the end of their life, so they understand the importance of estate planning. They have children and grandchildren, and they want to pass thei...
Posted by Joshua Gunsher, Esq. | Dec 04, 2023 |
People who are dealing with the death of a loved one have many things to think about. This includes making the final arrangements and handling the estate plans.
One of the concerns of the decedent's loved ones is what happens to the debts of that person once they're gone. They must know exactly ...
Posted by Joshua Gunsher, Esq. | Nov 17, 2023 |
Probate court is a technical requirement for many estates. When someone dies, the courts will oversee the distribution of their property to others. The courts also help ensure that the estate fulfills all necessary obligations, including paying taxes and resolving debts.
Assets that pass through ...
Posted by Joshua Gunsher, Esq. | Nov 03, 2023 |
Navigating life with a disability comes with unique challenges, including financial planning. For those with disabilities, a special needs trust offers a strategic way to manage assets without compromising access to essential government benefits.
A special needs trust is designed to hold funds t...
Posted by Joshua Gunsher, Esq. | Oct 29, 2023 |
Current probate laws in Ohio allow a testator who is putting together an estate plan to choose the executor who will manage estate administration on their behalf. If the person they selected is unavailable or if they failed to name a executor in legally valid testamentary documents, then the Ohio...
Posted by Joshua Gunsher, Esq. | Oct 19, 2023 |
Older adults preparing for retirement in Ohio often take time to plan their estates or update existing plans. Their resources and family relationships may have shifted in recent years, which could necessitate changes to their paperwork or give them the incentive they need to finally commit their ...
Posted by Joshua Gunsher, Esq. | Oct 05, 2023 |
When it comes to your finances, safeguarding your hard-earned assets is paramount. As an astute investor or business owner, you're well aware of the myriad of challenges that come your way that have the potential to derail this effort.
That's where an asset protection trust can become your invalu...
Posted by Joshua Gunsher, Esq. | Sep 28, 2023 |
Go back a few decades and no one had any digital assets to worry about when they died. Now that people live much of their lives online, they need to think about how they will account for digital assets in their estate plans.
You can break digital assets into four categories:
Assets that only exis...
Posted by Joshua Gunsher, Esq. | Sep 27, 2023 |
When a loved one passes away, there are so many things that have to be done – not the least of which is locating their will.
What happens, however, if all you can find is a copy? Can you just use that, instead?
The court expects an exhaustive search
Before you make any other moves, you need to ma...
Posted by Joshua Gunsher, Esq. | Sep 27, 2023 |
When people contemplate their own mortality, they often try to find ways to make sure they make a meaningful difference in this world – and money is something that can fund all kinds of charitable organizations and goals.
Charitable trusts are one way to do some good in this world and better defi...
Posted by Joshua Gunsher, Esq. | Sep 25, 2023 |
When someone makes a will it needs to be done of their own free will. If you suspect it was not and you lost out, you might consider filing a contest on the grounds that someone used undue influence to have them change the will in their favor.
Undue influence is a legal concept. It does not just ...
Posted by Joshua Gunsher, Esq. | Sep 21, 2023 |
If you have always been healthy, you might not think too much about the possibility of falling ill and needing extensive treatment. Yet, the longer you live the more likely you will require medical attention as the body gradually weakens. This is where an advance health care directive can be bene...
Posted by Joshua Gunsher, Esq. | Sep 21, 2023 |
Starting a family is an exciting part of life. Parents take time to get the nursey ready, buy the right car seat, and introduce their new bundle of joy to family members. When investing time and money into the things needed for childhood parents often forget one of the most important gifts: an es...
Posted by Joshua Gunsher, Esq. | Sep 19, 2023 |
Many parents never discuss their estate plans with their kids. Perhaps it stems from watching too many dramas where a scheming heir sets out to speed up their parent's demise in order to get their money sooner. Or perhaps it's just that they grew up believing money was not something you openly ta...
Posted by Joshua Gunsher, Esq. | Sep 18, 2023 |
Survey after survey finds that most of us do not have an estate plan. Reasons cited by those who respond to these surveys include everything from a lack of time to a belief that there is little reason for such a plan. Those who fall into the latter category often include single individuals — but ...
Posted by Joshua Gunsher, Esq. | Jun 16, 2023 |
When you think about estate planning, what comes to mind is a house, family heirlooms and other physical assets. However, with so much of our lives happening online, you may overlook important property: digital assets.
In the current digital world, it's crucial that you include your digital asset...
Posted by Joshua Gunsher, Esq. | Jun 01, 2023 |
Most of the time, a deceased individual is going to have at least some level of remaining debt. This doesn't even count the funeral costs, which the family would likely have to cover, and things of this nature. It's just a reflection of the way that most people live paycheck to paycheck and a lot...