What happens to your estate after you are gone is very much within your control. Estate planning is not only for the wealthy; it is for everyone. It is simply the process of deciding where your assets are to be distributed after your death. For those people who wish to preserve their assets for designated purposes — such as family or special charities — it becomes necessary to make special advance preparations.
To ensure your assets are protected and final wishes are carried out, there are some common actions that should be taken now. Proper estate planning allows you to plan for yourself and your loved ones without giving up control of your affairs.
Your estate plan should also allow for the possibility of your own disability. It should detail what you own and whom you want to leave it to at a time of your choosing and the way you want. Your estate plan should include fully disclosed, controlled costs for you and your loved ones. The last thing you want to worry about is having your estate drained of value through taxes and legal costs.
The right plan can protect the value of your estate and spare your loved ones unnecessary hassles and legal conflicts. The Complete Guide to Planning Your Estate in Ohio will help you glide through this complicated process. This new book has been adapted to offer Ohio residents state-specific advice for estate planning. Co-authors Margo Pierce and Linda C. Ashar, attorneys at law, have crafted an estate planning primer, allowing Ohio residents to become more informed and more involved during the process.
Many books on estate planning indicate you do not need the services of an attorney, but this book highly recommends using an attorney versed in this area: You should not go through the process alone. This book is intended explain the complicated issues, terminology, and planning strategies of estate planning so when you do meet with a qualified attorney, you will be well prepared. You will understand the legal terms and be ready to discuss issues and strategies with familiarity, saving you time and legal fees and ensuring peace of mind.
Ohio-specific information is offered throughout this book, including: Ohio’s probate code; Ohio rules, regulations, and laws specific to estate planning; elements of a valid Ohio will; planning your living will in Ohio; explanations of Ohio laws regarding durable health care power of attorneys, do not resuscitate (DNR) orders, and directives to withhold CPR. The book’s easy-to-understand context clarifies this complicated and sensitive subject and gives readers the power to take control of their future.
This book also offers an overview of abatement rules, settlement costs, guardianship and minor children, executors and trustees, life insurance, potential long-term care needs, marital deductions, types of trusts, gift splitting, survivorship deeds, 529 plans, reducing or eliminating estate taxes, avoiding tax on life insurance, using insurance to pay estate taxes, gift tax issues, generation skipping transfer tax, and tax-deferred accounts.
Estate planning should be a positive experience. It involves reviewing your situation and planning for your future. Although few people want to think about the possibility of disability or disease, advance planning is also a way to show your love and to reduce potential distress later.
Other books offer a non-state-specific overview of estate planning, causing many readers to be misinformed about rules and regulations particular to their state; but, this new book provides information Ohio residents need to know. Do not get outdated or wrong information that does not pertain to you specifically. Use this new book to craft an estate plan that is not only legally sound but also fully carries out your last wishes and protects your loved ones.
-Zenek
Posted May 1, 2010
For those who plan on living out their days in the great state of Ohio, this book is a valuable asset to help you decide well in advance the unplesentness of creating a will. It's an in-depth look at areas that wise people like myself want to have done ahead of time so that all my ducks are in a row when the time comes. Events such as establishing your property's value, dealing with troublesome taxes, and a VERY important chapter detailing how to avoid a costly probate that could save you plenty of time and money.
The book is very concise, straight to the point and full of important information. It's rather scary to think about who would take care of my kids if (God forbid) something happened to me, or to decide what medical procedures should I invest in if I was to become terminally ill; but the Guide is an easy to understand tome that helps to settle those gloomy thoughts. Normally I couldn't deal with this sort of "planning the inevitable future" manual due to the depressing tone and over-the-top legalese that I can't grasp, but the Complete Guide was very much worth my time. If anything, it'll help the ones I care about, and maybe your loved ones will be taken care of by this book too.
JG37
Posted April 22, 2010
THE COMPLETE GUIDE TO PLANNING YOUR ESTATE IN OHIO
BY LINDA C. ASHAR, J.D AND SANDY BAKER
*****= Five Stars
Estate planning might be a topic that you, like many others, may have purposely avoided thinking about completely. However, if you really focus on it, don't you want to know that your hard-earned and valued possessions will go to those you love, once you are gone?
For help, those who live in Ohio can look to a new book called The Complete Guide to Planning Your Estate in Ohio by Linda C. Ashar, J.D. and Sandy Baker. The sub-heading states that it is "A STEP-BY-STEP PLAN TO PROTECT YOUR ASSETS, LIMIT YOUR TAXES, AND ENSURE YOUR WISHES ARE FULFILLED FOR OHIO RESIDENTS."
A plethora of good information is contained within this book. Topics include information about paying off your debt; the roles of attorney, financial planner, and accountant; how to figure out how much you are worth; how to avoid probate; advantages of living trusts; estate taxes and other taxes; federal estate tax exemptions; marital deductions; lowering your federal estate taxes; federal gift taxes; insurance plans; savings bonds; tax laws; creating a valid trust; long term care; beneficiaries; charitable deductions; tips for valuing your belongings; what makes a will legal; divorce; and where to leave your wills.
In addition, the authors include samples of a living will, designation of healthcare surrogate, and power of attorney.
Of particular note is the informative and well-written Foreward to the book, the Ohio Facts, and the case studies included within. For instance, the case study of Janice Engelberth reveals to readers why setting up a trust for her four children was a way to prevent them from having to sell property swiftly to meet a $250,000 tax bill. In another case study, William Russo, CFP (Certified Financial Planner), stresses the importance of beginning to evaluate the factors that are a part of your estate planning RIGHT NOW! Thirdly, did you know that you cannot leave any property or money directly to your pets? But, don't worry - - - you can provide for
talynn-WriterDesigner
Posted April 15, 2010
The Complete Guide To Planning Your Estate In Ohio
By Linda C. Asher, J.D. and Sandy Baker
If you are anything like me, or the majority of American people, you probably don't sit around and dwell on your death. Death is something that happens to other people, and not you. Right? Wrong! Every person on earth must face death sometime, some sooner, some later. And we all should think about what will happen to our possessions when we die.
The Complete Guide To Planning Your Estate In Ohio puts a lot of information into your hands! How do you know what to include in your will? How do you word the will in order that it won't be contested or misinterpreted? How can you ensure who will gain guardianship of your minor children? These questions and answers, and many, many, more are included in this book.
You don't need to be a lawyer to understand all the legal terms associated with a will. This book explains technical words and defines them in a way you will understand and appreciate. The authors do an excellent job of removing all the uncertainty and mystery of will writing. After reading this book, you will feel as though a real friend held your hand and helped you with all the important decisions you had to make while writing your will.
Nothing is left unmentioned! Chapters in the book cover the importance of making a will, estimating your estate worth, laws you need to know, how to avoid probate, and finally, substitutions, trusts, and taxes.
This a wonderful book, even if you do not live in Ohio. The information contained in this book is an invaluable tool for anyone who needs to write a will. Highly recommended!
I give this book a 5 star rating!
HeidiRaeA
Posted April 13, 2010
The Complete Guide to Planning Your Estate in Ohio, hands you the heads-up you need to dot your i's and cross your t's on your own time, and your own dime. Linda C. Ashar, J.D. and Sandy Baker do a stellar job helping you find your net worth, and making sure that planning your estate is worth your while. If you have the will, you'll undoubtably see to it that yours is neat and tidy with the aid of this book. Addressing the whats, whys and hows of the unforseen circumstances you see, but would normally never dare plan for [children proceeding you in death, a marriage ending in divorce], Ashar and Baker take the time to cross those lines with couth, giving you courage to put those taboo plans in place.
From estate laws and taxes to trusts, probate and power of attourney, the real-world, really interesting case studies make the case for following the leaders of estate planning - Ashar and Baker. With appendicies covering a living will, power of attourney, and designation of health care surrogates, you'll have the tools necessary to finish what they start, without scrambling for additional details. In the case of this title, more info from the authors make for less work for you.
Sidenote: The author's profit portion donation to the Humane Society of the United States gives you a warm, fuzzy feeling that may well translate into you donating a portion of your estate to the animals of your great state.
WendyVin
Posted April 13, 2010
Estate planning, contrary to popular belief, is not exclusive to the rich and famous. Making advanced preparations will ensure that your assets are allocated to your designations, be it family, friends or even a specific charity. With the complexity of laws and regulations determined by individual states, it is important to find a good reference book for your state of residence before you start the estate planning process.
The Complete Guide to Planning Your Estate in Ohio provides Ohio-specific rules, regulations and laws. Through the use of clear, easy to understand language, this book offers everything you need to know about estate planning in Ohio. From the basics of the estate planning process to definitions of the terminology used and detailed case studies, this guide is well-organized and information-rich.
In addition to beautiful photos of Ohio, the book also offers samples of wills and other important legal papers as well as worksheets on how to set up your estate. A notebook as you read through this book is helpful to help set goals, keep notes on professionals you find to assist you and any questions you may have. A nice added touch included in this book is a biography fact sheet to help you record personal and family history for future generations.
Overall, The Complete Guide to Planning Your Estate in Ohio is a must-have reference book for anyone getting ready to go through the process of estate planning in Ohio, regardless of the amount your estate is worth.
SherryZander
Posted April 12, 2010
I would highly recommend this book. Though more editing should have been completed on the book before it went to print, there is a wealth of information in this publication. It is fairly organized, easy to understand and a valuable guide for anyone living in Ohio old enough to make a will.
The case studies from the "experts" in each of the sections provide a more in-depth explanation or perspective as to the application of the particular section. It is not clear, however, if the experts are actual experts, or ordinary people who have learned from experience how devastating life's situations can be without a will or estate preparation.
Not only does this book provide complete definitions and explanations of every term, person and activity involved in planning an estate, but it also provides thorough applications of each. One convenience is if you missed anything along the way while reading each chapter, you've got a summary at the end that highlights the critical points. Whether you're planning a simple estate, or one that involves trust and taxes, you'll find what you need in this guide to planning an estate in Ohio.
Overview
What happens to your estate after you are gone is very much within your control. Estate planning is not only for the wealthy; it is for everyone. It is simply the process of deciding where your assets are to be distributed after your death. For those people who wish to preserve their assets for designated purposes — such as family or special charities — it becomes necessary to make special advance preparations.
To ensure your assets are protected and final wishes are carried out, there are some common...