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Last Will and Testament in Ohio

A Last Will and Testament is an extremely important document to have yet many people neglect to have one prepared. A Last Will and Testament, commonly referred to as a will, sets out a person’s desires regarding the distribution of their property after their death. To correct some common misconceptions, a will does not dispose of items left in a trust or items that have a payable on death beneficiary such as an insurance policy. Without a will directing who will inherit from the decedent, the remaining assets will be distributed to the next of kin of the deceased according to Ohio law.

Benefits of a Last Will and Testament

WillHaving a will properly executed prior to death is beneficial for many reasons. If there are minor children at the time of the decedent’s death, they can direct who will become guardian of their children. If there is no will, the Court will be able to determine who will be guardian of the decedent’s minor children. Most people know who they would want to care for their kids if they are unable to and the best way to achieve that is by naming those people as guardians in a will.

Divorces and step-children are common and unknown to many, can affect the way assets are distributed after death. If a person remarried but had children from another relationship, the current spouse may not inherit everything if the person dies without a will. Ohio reduces the amount of inheritance a surviving spouse will receive (without a will) when there are children from a previous relationship. If taking care of a surviving spouse is a concern, then a will is one option of ensuring that spouse is taken care of after the other’s death.

When to Prepare a Last Will and Testament

There is no better time than the present to have a will prepared. People with minor children and spouses will have peace of mind knowing their surviving children and spouse will be taken care. Wills are also not permanent during a person’s lifetime and can be changed or revoked as necessary.

Contact Yates Law Office, LLC today to set up a consultation and begin planning for your family’s future. Click here to be directed to the Contact page.