Trust and Estate Planning
Everyone, regardless of age or health status, whether employed or retired, should have at least a basic estate plan to provide for the payment of debts, care of minor children, and distribution of assets after death. Ohio laws provide many tools and techniques that can be used to simplify the estate planning process, giving people peace of mind while minimizing costs without sacrificing effective results.
In addition to a Last Will and Testament, Trusts are often a significant part of estate planning. However, many people are confused about what trusts do, how they differ from a basic will, whether a trust would be beneficial to them and how they work. The attorneys at Stoneman Law Office Co, LPA can help clients understand, based upon clients’ unique needs and life circumstances whether their estate plan would benefit from using a trust as a component. Since there are many types of trusts that address different needs and circumstances, it is important that clients have a thorough discussion with their attorney about what trusts can accomplish, what types of trusts are available, and whether alternate estate planning plans would serve their needs.
Special needs trusts to benefit persons with developmental or other disabilities are also a significant part of the full range of legal services the firm can provide to our clients.
In addition to having a well though-out estate plan that fits each person’s individual needs, every adult should consider the importance of powers of attorney, both financial and healthcare, as well as living wills. Complete estate plan conferences should include a thorough discussion of these documents as well.
A fairly recent area of law has evolved as society has aged. The area of law known as Elder Law involves all issues that are unique to persons who are aging, including advance directives, powers of attorney, Medicaid planning, elder abuse (physical and financial) and various other topics.
Kathy Stoneman has over 30 years of experience in trust and estate planning which gives her knowledge and ability to prepare estate plans that specifically address each client’s individual needs and goals. As a member of Wealth Counsel, a national estate planning document service provider that insures that its members have access to all current estate planning techniques and documents to meet the needs of clients with basic or complex estate planning needs, Stoneman Law Office Co, LPA can assist you in developing the estate plan that best fits your needs.