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 final debts should be and any other remaining legal issues that need to be handled by your estate. Those are all instructions essentially that you put into your will, and that become legally enforceable. The person who manages or executes your estate will be legally responsible and obligated to follow your final wishes.
Because you will no longer be alive when this will be forced, it is very important to fully understand everything that is going on in it. Before you sign it, sit down and speak with an experienced estate planning attorney at Parks and Meade.
You can learn more about living wills and power of attorney on our website here: https://parksandmeade.com/best-estate…