Last Will & Testament
You should control who inherits your assets. Everyone, no matter their circumstances, needs a Will. This document allows you to determine who receives your assets after death. Those without a Will shall have their assets distributed according to the State law of intestate succession.
Everyone has different needs. It is best to sit down with an attorney to determine what those needs are. Email Moseman Law here.
Without a Last Will and Testament
Without a Will, the State of Ohio will provide one for you and all your assets will be distributed under the State of Ohio’s intestacy laws. Your assets may not go to the people whom you intended. These laws are particularly inadequate if you wish to leave assets to a charity, or friend, or to a life partner and you do not have a Will.
A will has no legal effect until it is probated
Probate is the process of accounting for and distributing the deceased’s assets according to the terms of the deceased’s will. Unless otherwise provided by statute, a will must be admitted to probate before a court will allow the distribution of a decedent’s property to the heirs according to its terms.
A Trust can add protection
A trust agreement is a document that spells out the rules that you want followed for property held in trust for you or your beneficiaries. Common objectives for trusts are to reduce the estate tax liability, to protect property in your estate, and to avoid probate.
Let Moseman Law Office help you with this process.