A Law Firm Offering Comprehensive Estate Planning, Probate And Administration Services
Despite what you may be thinking, estate planning does not need to be stressful, time-consuming or expensive. When you work with experienced lawyers like those at Witschey Witschey & Firestine Co., LPA, the process is likely to be easy and efficient. In most cases, we can draft and finalize your estate plan in just two or three sessions.
Wills and trusts are the foundation of most estate plans, but they are just the beginning. Our firm is ready to help you construct a customized estate plan to address your assets, specify your wishes for medical care and name trusted loved ones to make important decisions on your behalf if you ever become incapable to make or communicate those decisions for yourself.
When we discuss your estate plan, we will cover topics such as:
- A last will and testament
- Basic and advanced trust planning
- Designated durable power of attorney
- Designated health care power of attorney
- A living will
- Asset protection planning
There is no one-size-fits-all solution to estate planning. Yours should accurately and completely reflect your circumstances, needs and goals, which is why it is so important to work with a knowledgeable attorney.
Probate Services And Litigation
Avoiding probate is a worthwhile goal in planning your estate. Unfortunately, probate isn’t always avoidable. In such cases, we are ready to handle the entire process for you so that you can focus on devoting time with your family at this time of loss.
In many cases, probate is a legal formality. But there are times when a will is being contested or an executor is being challenged. In addition to probate services, our firm offers experienced representation in probate litigation.
Estate Administration And Trust Administration
If you have been named as the administrator of an estate or a trust, you may have multiple duties for which you are unfamiliar. With trusts, for instance, the named trustee is required to give an annual report of financial accounting (to beneficiaries) each year that the trust is in existence. To make sure you are in full compliance with these requirements, it can be helpful to work with an experienced attorney.
Frequently Asked Questions About Estate Planning And Probate In Ohio
Estate planning and probate can be stressful, confusing experiences without guidance. Here are the answers to some common questions:
How can I ensure my estate plan is compliant with Ohio state laws?
In Ohio, a will must be written (by hand or typed), signed and witnessed by two disinterested parties to be considered valid. Small mistakes in your paperwork can complicate your entire estate plan. Our attorneys at Witschey Witschey & Firestine Co., LPA, can prepare your legal documents, including your will, trusts and powers of attorney.
What are the key differences between a will and a trust in Ohio?
A will is a foundational document in an estate plan. You can use your will to appoint an executor to manage your estate, detail how your assets are distributed and even nominate a guardian for your minor children. A will – and all assets controlled by it – must go through probate.
A trust is a legal vehicle or arrangement that holds and manages assets on behalf of certain beneficiaries (which can include the grantor) and can be effective both during the grantor’s lifetime and after their death. Assets in a trust bypass probate and can be structured in ways that permit the assets to be highly controlled.
If you want to learn more about the key differences between a will and a trust, you can reach out to Witschey Witschey & Firestine Co., LPA, and talk to one of our estate planning attorneys.
What steps can be taken to minimize estate taxes in Ohio?
Ohio no longer has state-level inheritance and estate taxes, but large estates may still be subject to federal estate taxes. Under federal estate tax laws, an estate may be taxed if its value exceeds $13.99 million for an individual. As a result, beneficiaries may inherit less from the estate than its actual worth.
To minimize estate taxes, an attorney can help you take a strategic approach via lifetime gifts, the use of trusts, direct beneficiary designations and other steps that will lower the value of your estate.
Consultations Available – Contact Us Today
Witschey Witschey & Firestine Co., LPA, is based in Akron. We serve clients in Summit County and throughout northeastern Ohio. To take advantage of an initial consultation about your estate planning or probate needs, call us at 330-576-9770, or send us an email.