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Author: Richard A Myers

The Fundamental Questions to Ask Before Estate Planning

By Richard A Myers
December 27, 2018 Category: Estate Planning

Because estate planning is not just about reducing taxes but more about making sure your assets are utilized for my care and the care of my loved ones during an illness or disability and then distributed as you wish after you are gone, you need to consider four questions before you begin estate planning. WHO DO I TRUST TO CARRY OUT MY ESTATE PLAN? This is the first critical question to answer because you will not be available to oversee the plan. Carefully selecting your fiduciary and the alternate fiduciaries is the first step to the success of your personalized estate plan. The fiduciary will continue to carry out your estate plan during your illness, short or long term and then your wishes after you are gone. WHO SHOULD INHERIT MY ASSETS? If you are married, before you can decide who should inherit your assets, you must consider marital rights. Ohio has specific laws designed to protect surviving spouses. If you die without a will or a living trust, state law may dictate how much

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