Would you like to leave an inheritance for more than one person? While it might seem fair to split the funds 50/50, after taxes it could actually cause your loved ones to inherit less. Is it better to leave unequal or equitable assets? When a beneficiary inherits funds, the IRS will take out taxes on […]
Firm News
Divorce, taxes and claiming dependents
When completing their tax returns, Ohio residents can claim qualifying dependents and encounter almost no issues. However, in situations in which multiple taxpayers are claiming the same dependents, such as when separated or divorce parents both claim their children, the process can quickly become complicated, forcing the Internal Revenue Service to examine the returns and […]
Estate planning can be important for everyone
Some Ohio millennials may think estate planning is only an important topic for older, wealthy people with multiple heirs. Even many older adults who are single or do not have kids might feel that they do not need a will or other estate documents. However, making a plan can provide benefits to people at all […]
Staying calm during a divorce has long-term gains
A divorce proceeding can be one of the most emotionally taxing legal events a person can experience. Many divorced individuals in Columbus, Ohio, can attest to this fact. However, becoming lost in one’s emotions can have a detrimental effect on the divorce, including the property settlement and parenting plan. Techniques are available that can assist […]
Including an art collection in an estate plan
For art collectors in Ohio, paintings and sculptures are often their most precious possessions. Accumulated over years and at significant cost, art collections reflect not simply financial investments but also aesthetic passions. At the same time, they can be valuable assets. Despite that fact, many people hesitate to make a plan for how a collection […]
Divorce could mean splitting with professional partners too
Once an Ohio couple decides to end their marriage, there’s often a lengthy process of transition as two households are established from one. Even when the parties know the split is the right path, anxiety can accompany the new beginning. It can be difficult seeing social friends having to choose between former partners. When it […]
Life insurance as an estate planning tool for Ohio baby boomers
Baby boomers in Ohio and other parts of the United States can take comfort in knowing they are part of the wealthiest generation in American history. Because of this fact, many boomers also wish to pass along certain assets to preferred beneficiaries. However, unexpected estate-related expenses may make this task difficult. One possible way boomers […]
Creating legacies by purchasing estate plans
There is a significant difference in how Ohio residents over 50 approach estate planning compared to how their children and grandchildren approach the subject. For the most part, older Americans have spent their lives managing their money in an organized and focused manner. Conversely, younger Americans tend to be more worried about paying off debt […]
Why you should update your estate planning during a divorce
When going through a divorce, there will be a lot on your mind. You will most likely be focused on child custody, property division and getting your life re-established. It may not be the easiest time to add one more legal process to your plate, but it will be important to revisit your estate planning […]
Providing children of divorce with a quality holiday season
Divorce can be difficult for parents in Ohio and in any other state. It can also add more stress for parents during the holiday season. Ideally, they will realize that the goal is to provide for the needs of their children and ensure they have a quality experience. This will generally involve adults communicating with […]
