Estate Planning Attorney Serving Findlay, Ohio

Estate planning is not just about wealth and assets; it's about expressing your wishes, taking control of what happens to your possessions after you're gone, and ensuring the welfare of those you care about the most.

Estate planning is a proactive measure, a chance for you to decide how your belongings will be managed and distributed, rather than leaving it up to the state or court.

No matter the size of your estate, every person can benefit from having a plan in place. At my firm—Robert E. Schuck Attorney at Law—I take the time to comprehend your unique circumstances and objectives, enabling us to craft a personalized estate plan that addresses your specific needs. 

The Roles of Wills and Trusts in Estate Planning

Wills and trusts are two fundamental instruments in estate planning. A will is a legal document that expresses your desires regarding the distribution of your assets after your death. This includes naming beneficiaries, appointing guardians for minor children, and designating an executor to carry out your wishes. 

A trust, on the other hand, holds your assets for the benefit of your chosen beneficiaries. There are various types of trusts, each with its benefits and considerations. Trusts can help avoid probate, minimize estate taxes, and ensure the ongoing management of your assets. 

In my role as your estate planning attorney, I can guide you in determining whether a will, a trust, or a combination of both is the best approach for your situation. I make sure to explain the benefits and potential drawbacks of each option, so you have a clear understanding of how they fit into your overall estate plan.

Key Components of Estate Planning

Estate planning encompasses more than just creating a will or trust. It involves considering multiple documents that will help your wishes be carried out effectively. Some of the key components of estate planning include: 

• Power of Attorney: This document designates someone to make financial, medical, or legal decisions on your behalf if you become incapacitated. 

• Healthcare Proxy: This is the appointment of a trusted individual to make medical decisions for you if you are unable to do so. 

• Living Will: This outlines your preferences for end-of-life medical care, such as life support and organ donation. 

• Beneficiary Designations: This involves reviewing and updating beneficiary designations on retirement accounts, life insurance policies, and other assets. 

• Guardianship Designations: This includes naming guardians for minor children to protect their well-being in the event of your incapacity or death. 

By addressing these essential components, we can craft a comprehensive estate plan that covers all aspects of your life and provides for your loved ones. 

Avoiding Common Estate Planning Mistakes 

There are common pitfalls in estate planning that individuals often fall into, leading to unintended consequences and unnecessary complications. As your attorney, I will help you avoid these mistakes and ensure that your plan is legally sound and effective. 

Some common estate planning errors to avoid include: 

• Procrastination: Delaying the estate planning process can leave your loved ones vulnerable and lead to a lack of control over your assets. No matter your age or how much money or assets you own, estate planning can benefit you.  

• Inadequate Beneficiary Designations: Neglecting to update beneficiary designations on accounts can result in assets being distributed contrary to your wishes. 

• Failure to Plan for Incapacity: Not having a power of attorney or healthcare proxy in place can leave critical decisions up to the court. 

• Ignoring Tax Implications: Neglecting to consider estate and gift tax implications can result in unnecessary tax burdens for your beneficiaries. 

By working closely together, I will help you steer clear of these potential pitfalls and create an estate plan that reflects your wishes and protects your loved ones. 

Estate Planning FAQs

What Is the Difference Between Probate and Non-Probate Assets? 

Probate assets are those that are owned solely by the deceased person and do not have a designated beneficiary. These require legal probate proceedings to be transferred to the beneficiaries. Non-probate assets, on the other hand, don’t go through the probate process and include assets jointly owned or those with a named beneficiary, such as life insurance policies, retirement accounts, and properties held in trust. 

What Are My Firm's Estate Planning Services? 

My firm offers a range of estate planning services designed to meet the unique needs of each client. These services include the creation of wills, trusts, and healthcare directives; assistance with beneficiary designations; guardianship planning for minor children; and estate and gift tax planning. I also provide guidance on powers of attorney and the management of digital assets, ensuring a holistic approach to estate planning. 

What Is the Estate Planning Process? 

The estate planning process begins with a consultation to understand your individual needs and goals. I will then review your assets, discuss potential scenarios, and explain the legal tools available to you. After identifying the best strategies, together we will draft the necessary documents, such as wills, trusts, and powers of attorney, and review them with you in detail. The final step involves executing the documents and providing guidance on how to securely store them. 

How Can My Estate Planning Attorney Help Me? 

An estate planning attorney will offer experienced and knowledgeable advice on how to protect your assets, minimize taxes, and help you feel confident that your wishes are carried out after incapacity or death. By preparing essential documents and advising on the right strategies, we help you avoid common mistakes and provide peace of mind that your loved ones will be cared for according to your plans.