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  An estate plan is a collection of legal documents that help you control what happens to yourself and your assets in the event that you become incapacitated, or if you should pass away. An estate plan generally includes a last will and testament, power of attorney documents, sometimes a living will, and sometimes a living trust that will hold and distribute your assets according to the instructions in the trust and outside of the probate process. You should always sit down and speak with an experienced estate planning attorney before signing any kind of estate planning document. This is important because those documents don’t come into play until you yourself are no longer able to make the decisions that control what happens to your body and to your assets. […]

  If you or a loved one are dealing with ongoing medical expenses that are far too expensive for anyone’s household budget to handle such as nursing home care, hospice care, or even in home health care or assisted living, the solution often ends up being an application for that Medicaid. T he process in Ohio is extremely complicated and very easy to not do correctly. You should always sit down and speak with an experienced elder law and estate planning attorney when you are making this very important set of decisions and actions for you and your family. Consider making a consultation with Parks and Meade today to find out how Medicaid planning can help save assets to improve your quality of life and potentially also save money back

  A living trust is a legal document that fits into your estate plan and holds assets for you so that when you pass away those assets are not distributed through the normal probate process. This is different from inheriting assets down through a last will and testament, because a trust gives you the ability to control how much when, how often and to whom your assets are distributed. It is very important before creating a trust to sit down with an experienced estate planning attorney to fully understand the legal, financial, tax, and inheritance implications of any assets that you put into a trust. You can learn more about estate planning on our website here:https://parksandmeade.com/best-estate…

  One of the most important documents in an estate plan is your last will and testament. This is a legal document that follows very specific criteria set down by Ohio law that controls what happens to your assets and and how your estate is run after you pass away. It is important to know that your will is not effective while you are still alive. In a will you are naming the person who was going to manage your estate and manage the distribution of your assets. You are naming your beneficiaries. You are spelling out exactly how you want your assets to be distributed to whom or to a charity or to wherever you have decided that your assets should inherit down to you are explaining how your