Blog

Electronic Assets

By Benjamin F. Farah
October 31, 2017 Category: General

Did you think about your electronic assets? The rise of personal computers, the internet, and now smart phones have revolutionized our lives, and how we transact business. When getting our affairs in order, we need to remember the impact of technology on our lives. Things used to be simple. In a paper based society, it was easy for those we left behind to understand our affairs because we usually left a paper trail. We would receive bills, bank and other financial account statements monthly. At the end of the year we would receive 1099s and other IRS reporting statements which would give our families and personal representatives a roadmap of what we owned. But now: Our paychecks, social security checks, and other receipts may be automatically deposited into our bank accounts. Our utilities and other regular monthly bills may be automatically withdrawn from our bank accounts In order to avoid annual fees, we may have agreed to have our monthly brokerage statements delivered electronically

A Sharpened Tool

By Benjamin F. Farah
October 31, 2017 Category: Wills, Estate Planning, Guardianship, Transfers To Minors

Delaying the Distribution of Property to a Young Person A sharpened tool is available for those who want to delay the distribution of property to a beneficiary over age 21, but who do not want to incur the expense of setting up aTrust. While there are good reasons to set up a Trust, thanks to a change in Ohio law, a Trust is not the only way to delay distribution past 21. In Ohio, if a beneficiary is under 18 at the time property is to be distributed, that property is paid to a court appointed Guardian. Management of the property in aGuardianshipis under Court supervision. At age 18, the property in the Guardianship will be distributed to the beneficiary. In our Wills, we said that if a beneficiary is under 21 at the time he or she is to receive property, the property is to be distributed to a Custodian under the Ohio Transfer to Minors Act. This would tie the property up until age 21. Usually, an 18 year old beneficiary is less mature than a 21 year old. We have yet to find a client

Think of Us as Guides

By Benjamin F. Farah
January 18, 2016 Category: Guidance, Probate, Estate Planning, Business Transactions

When people travel to new and different places, they will often use a guide to help them get to where they want to go. In the exploration of the US, when the west was a vast wilderness, explorers used native guides. If you are a fisherman exploring new waters, you may hire a local guide to get you to the right part of the stream where the fish are found, and what fly or bait to use. When traveling to Europe, you might go on a Rick Steves tour. For many people, the legal landscape is a new and different place - unlike any place they have ever visited. There are unknowns: The language is different. The protocol is different. There may be tiger trapsor other pitfalls. As lawyers, we are your guide. If a loved one has died, we guide you through the process of settling the estate and if necessary, navigating the court system. If you are buying or selling a business or real estate, we guide you through the transaction, pointing out things you might not have considered, and steering you around

Organ Donation Costs

By John D. Grauer
February 17, 2014 Category: General

Cost Is Not A Consideration for Organ or Tissue Donation At any time during your life, you can choose to become an organ and tissue donor. This is a personal decision that you should take time to carefully consider. While there are many valid considerations to weigh, cost is not one. A common misconception is that your estate will get stuck with a bill for the charges related to removal procedure. This is not true. Neither the family of the deceased nor the estate of the deceased will bear any cost for the removal procedure. ALL costs related to donation are paid by the organ/tissue recovery agencies or the transplant center, including the charges for the operating room and surgeon. On the flipside, the decedents family and estate will not be compensated for donation, because it is gift and compensation is prohibited under National Organ Transplant Act. Your Attorney and Physician serve as excellent resources for learning more about the decision to become a donor and how to accomplish

On Pets

By Kelly L. Roberts
November 25, 2013 Category: Wills, Pets

In addition to making arrangements in your Will for your pet, it is imperative that you take additional steps to protect your pet. It could take days or even weeks for someone to read and probate your will. Please make sure responsible parties know about your pet and the arrangements you have made for it so that they can act quickly after your death without having to wait for instructions under your Will. Your pet will need food and water. Consider providing a key to your home or apartment to a trusted relative or friend with instructions that they care for your pet until the Executor is appointed and can follow the instructions in your Will. To ensure your pet receives prompt attention, you might consider providing a neighbor or building manager with the name and contact information of the trusted friend or relative with the request that they notify him or her upon your death or hospitalization. If you live in an apartment, it is best to notify building management of the arrangement

Month: February 2014

Organ Donation Costs

By John D. Grauer
February 17, 2014 Category: General

Cost Is Not A Consideration for Organ or Tissue Donation At any time during your life, you can choose to become an organ and tissue donor. This is a personal decision that you should take time to carefully consider. While there are many valid considerations to weigh, cost is not one. A common misconception is that your estate will get stuck with a bill for the charges related to removal procedure. This is not true. Neither the family of the deceased nor the estate of the deceased will bear any cost for the removal procedure. ALL costs related to donation are paid by the organ/tissue recovery agencies or the transplant center, including the charges for the operating room and surgeon. On the flipside, the decedents family and estate will not be compensated for donation, because it is gift and compensation is prohibited under National Organ Transplant Act. Your Attorney and Physician serve as excellent resources for learning more about the decision to become a donor and how to accomplish

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Electronic AssetsA Sharpened ToolThink of Us as GuidesOrgan Donation CostsOn Pets
Categories
Wills (2)
General (2)
Estate Planning (2)
Pets (1)
Guidance (1)
Probate (1)
Business Transactions (1)
Guardianship (1)
Transfers To Minors (1)
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Categories
Wills (2)
General (2)
Estate Planning (2)
Pets (1)
Guidance (1)
Probate (1)
Business Transactions (1)
Guardianship (1)
Transfers To Minors (1)
+ Show More