Your estate plan consists of many documents and covers a lot of bases. From protecting assets from creditors and litigants to avoiding probate, a comprehensive estate plan protects you while you’re living and provides for loved ones after death. Because estate plans are, by design, comprehensive, a lot of legal jargon is thrown around and […]
Significant and stable retirement income, reduction in taxes, whether income, capital gains, or estate respectively, and the provision of critical needed support for worthy charitable organizations and endeavors. If any, or all, of these sound good to you and your estate planning goals, charitable remainder trusts might be a useful option. Charitable remainder trusts, not to be confused with charitable lead trusts, is a way […]
Most of us don’t have millions of dollars in liquid assets to fund our retirements. Ordinary people use common investment tools such as traditional IRAs, Roth IRAs, simplified employee pension plans (“SEPs”), and savings incentive match plans for employees (“SIMPLE IRAs”) to pay for healthcare and living expenses in old age. The main goal for […]
Medicaid crisis planning has become a hot topic in estate planning. More people need Medicaid to survive the issues and problems of old age but very few actually take the time to address and plan for this all too important need. Contrary to popular belief, Medicaid is not free money. Medicaid is a needs based […]
Estate planning is an expansive concept. Fundamentally, estate planning seeks to create a detailed plan for your finances, healthcare, and assets for the reminder of life and after death, to the extent physically possible and within the means of the estate planner. Though it would be nice if a crystal ball existed and told us […]
Unfortunately, “till death do us part” doesn’t seem to have the same weight or meaning that it had back in the day. Per the American Psychological Association, more than 90 percent of people marry by the age of 50, however, more than 50 percent of marriages end in divorce. Further, the divorce rate for subsequent marriages […]
Cleveland, Ohio estate planning lawyer, Daniel A. Baron, offers the following information as to whether or not you should have an Irrevocable Trust as part of your comprehensive estate planning. An Irrevocable Trust, by design cannot be modified in any fashion or terminated without the express written consent of the beneficiary or beneficiaries. Once the […]
Baron Law, LLC answers questions for you on transferring property to heirs and beneficiaries while acting as an executor of an estate. It is wise to always hire/consult an experienced estate planning attorney to help you navigate through the questions you may have. Estate fiduciaries are charged with many obligations and responsibilities during estate administration, […]
Cleveland, Ohio estate planning lawyer, Daniel A. Baron, offers the following information as to whether or not you should have a Revocable Trust as part of your comprehensive estate planning. When you decide it is time to do your estate planning, one decision to make is: Do I Need A Trust? If the answer is […]
Are you thinking of incorporating your business? Have you considered becoming an “S Corporation” instead. Cleveland Business Attorney Baron Law LLC offers you the following information to consider before making the choice. What are the advantages of becoming an “S Corp”? Nowadays many businesses are taking advantage of incorporation to protect themselves and their owners. […]