Many people assume that once a simple will is complete, their estate is safe and their loved ones protected. This misconception is likely due to the vast number of “fill in the blank” legal documents available online, and the number of kits that can be purchased at office supply stores. Wills are not that simple, and you should have an experienced Ohio elder law attorney assist you in drafting your will to ensure no assets are left in limbo.
Some assets, including certain types of bank accounts, life insurance, annuities and retirement accounts are often handled directly by the insurance company or financial institution. These types of assets have a direct beneficiary assigned to them, and the company pays out to the designated person when the time comes.
If you have named someone as a Joint Tenant With Rights of Survivorship on a property or account, the joint owner will automatically receive the property or account.
If Wills were as simple as a kit, we wouldn’t see so many probate proceedings to determine the validity of a plan. Having an experienced estate planning attorney draft your will is the safest way to insure your loved ones get what you leave behind for them.
