Cleveland, Ohio Estate Planning and Elder Law Attorney offers the following: The main benefit of a Qualified Terminable Interest Property Trust is being able to control your estate after your gone. In addition, there are several tax advantages for larger estates. Each spouse can set up a QTIP trust, leaving assets to the other in […]
Cleveland, Ohio Estate Planning Attorney Dan A. Baron offers the following on Testamentary Trusts. Testamentary trusts are a great way to plan and safeguard your assets for minor children. In other uses testamentary trusts can be used for beneficiaries with addictions or disabilities. Unlike most trusts, testamentary trusts are incorporated into your last will and […]
Cleveland, Ohio Estate Planning Dan A. Baron Explains the Difference Between an Executor and Trustee: Estate planning can be complicated and sometimes difficult to bear when charged with the responsibility as executor or trustee of an estate. If you have minor children, then you probably have set up some form of testamentary trust coupled with […]
Utilizing “QTIP” Trusts for Families in Second Marriages Estate planning in second marriages can be especially complicated when trying to secure the well-being of loved ones from a previous marriage. Much of the complexity arises from rights granted to a surviving spouse. In Ohio, spouses (male or female) are entitled to dower and elective share […]
How will Trump’s Presidency Affect Your Trust? With the impending inauguration of Donald Trump as our nation’s president, we would all be wise to prepare for a more conservative economic landscape that will likely include the elimination of some gift and estate taxes, lower overall rates, and new deductions. Particularly, if Trump moves forward to […]
If you’re an Ohio resident concerned with the medical care of a loved one, you should be familiar with Ohio’s laws regarding power of attorney. A financial power of attorney, also known as a durable power of attorney, is a legal document an individual (the “principal”) can use to appoint someone (the “agent”) to act […]
As an estate planning attorney, many people ask me if probate is really necessary. The short answer is no, and I often advise my Cleveland, Ohio estate planning clients to avoid probate if at all possible. But what is probate? And, why should it be avoided? Here’s a quick synopsis to answer these questions. What […]
Annuity-Based Long-Term Care and the Pension Protection Act of 2006 Medicaid and long-term care are unquestionably a hot topic. Estate planning and Medicaid planning attorneys have long been waiting for an opportunity that would allow those wishing to enroll in Medicaid to shelter all or a portion of their savings – legally! Cleveland, Ohio estate […]