Proactive estate planning is one of the most important things you can do for your loved ones. Not having a plan for asset management or dependent care in the event of your death or incapacitation could have serious implications for family members who survive you. In addition to understanding what estate planning involves, it’s important to appreciate how this type of arrangement can benefit everyone, not just the wealthy.
What’s Involved in Estate Planning and Why It’s for Everyone
Attorneys in Cincinnati who focus in estate planning law can help you create a plan for managing your assets and belongings after you’re gone or can no longer make your own financial or healthcare decisions. Estate planning also involves arranging for the care of minor children or adult dependents when you’re no longer able.
You don’t have to be independently wealthy to need legal guidance with estate planning. If you have bank accounts, own property, manage assets, or care for minor children or dependents, having an estate plan can reduce burdens for your family after you’re gone. Without this type of legal arrangement, your loved ones could be left trying to sort out your finances without knowing your wishes, which can lead to conflicts. Also, the state—not your family—could decide where your children or dependents live and who will care for them.
Services an Estate Planning Lawyer Provides
Your financial situation is unique, and a qualified estate planning attorney can help you decide the best strategies for allocating your assets and belongings. A lawyer with probate and estate expertise can provide the following services:
- Beneficiary designations
- Draft Wills
- Create trusts
- Generate documents regarding power of attorney
- Guardianship and conservatorship assistance
- Guidance on estate taxes
- Healthcare and advance directive guidance
- Plan for charitable giving
- Probate assistance
- Plan for business secession
- Regular review of current estate plans
- Assist in family dispute resolution
Choosing the Right Estate Lawyer Who Serves Cincinnati Families
If you have dependents or own property and assets, planning the management of your estate upon your death or incapacitation is essential. It’s a gesture of love and consideration for your family. No matter your net worth, a qualified estate attorney will be happy to assist you in making your final arrangements so that your family isn’t left with financial loose ends. To schedule an initial consultation with one of our local estate planning attorneys, contact Donnellon, Donnellon & Miller in Cincinnati today at 513.891.7087.