Many of us don't understand estate planning, which is a second reason a lot of us don't have an estate plan. Some recent changes to these laws have made it more likely that in certain circumstances these default laws will be closer in accordance with your wishes than before, but they still are not personally tailored to your wishes. Chances are, your will will be closer to your wishes than the laws of Ohio. If you don't have a will, the State of Ohio has laws that determine how your property will be distributed. For many, our uneasiness with death prevents us from doing basic but necessary estate planning. Why do so many of us not have a plan or a will? First, no one likes to think about death, and your loved ones definitely don't want to listen to you talk about your death. An Ounce of Prevention is Worth a Pound of Cure A successful estate plan not only provides for retirement while passing the largest possible estate to loved ones, but also does this in a way that the people involved are friends through the process and after the estate is settled. Therefore, in these fact sheets, emphasis will be given not only to financial matters, but also to personal considerations. The same might be true of your heirs when your estate is settled. In fact, for many of us in the United States, more money might not increase our happiness or well-being. In this fact sheet series, estate planning objectives include arranging for the well-being of your loved ones and yourself while you are living and after your death.įor many, personal relationships are more important than financial considerations. However, we hope you find each of the twelve fact sheets of benefit. Therefore, these fact sheets are in no way, shape, or form intended to replace legal counsel. This fact sheet series is intended to introduce you to the basic concepts needed to develop an estate plan. Please feel free to contact us if you have questions, concerns, or differ with our response.Ī caution before we get started. We, the authors of this fact sheet series, hope you will settle down in an easy chair, take one fact sheet at a time, read it, fill out the response sheet, then compare it with our answers at the end of the fact sheet.
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