Cleveland Estate Planning Lawyers
Crafting a comprehensive estate plan requires an experienced Cleveland estate planning attorney. For anything involving an estate – from setting up a will to dealing with probate – you need someone who understands Ohio estate laws.
At our estate planning law firm, our attorneys at Russo, Rosalina & Co., LPA, have spent over 25 years helping more than 45,000 people in and around the Cleveland communities with a wide range of probate and estate planning issues.
What Is The Purpose Of An Estate Plan?
A comprehensive estate plan allows you to manage and protect your assets while ensuring your wishes are honored after your passing. A comprehensive estate plan includes tools like wills, trusts and powers of attorney, which help you direct how your property is distributed and who makes decisions on your behalf if you become incapacitated.
It also minimizes the financial and emotional burden on your loved ones. By working with a skilled estate planning attorney, you can reduce taxes, avoid issues with probate, and give your loved ones the best chance to have an efficient and smooth transition to your affairs. Ultimately, an estate plan gives you peace of mind, knowing that your family’s future is secure.
Providing Estate Planning Solutions To Cleveland Communities
Our legal practice attorneys can help you with any of the following issues:
- Wills, trusts, and other estate planning components: One of our lawyers will meet with you, get to know you and your wishes, and then tailor the ideal arrangement of trusts, living trusts, wills and other measures to fit your needs.
- Health care directives and financial powers of attorney: Health care directives, also known as living wills, set forth your wishes regarding your end-of-life care. Various types of powers of attorney can also designate someone you trust to make financial decisions on your behalf should you become incapacitated and unable to make these decisions yourself.
- Estate administration: Our attorneys appear before the probate courts throughout northeastern Ohio to administer hundreds of estates each year in an efficient and effective manner.
- Will contests: We help people with all types of adversary actions, including contesting a will, disputes about inheritance, declaratory actions and concealment actions. Our attorneys represent clients in cases involving capacity challenges like undue influence and competency issues. We can also help you resolve disputes with a trustee and issues involving breaches of fiduciary duties, as well as pursue concerns regarding asset concealment.
We serve clients throughout northeastern Ohio, including Cleveland, Parma, Euclid and Cleveland Heights. Our attorneys are also qualified to help people with probate and estate issues that involve international law, including matters in Italy.
When Is It A Good Time To Update Your Estate Plan?
Regular reviews of your estate plan ensure that your plan remains current and effective. But you should especially review your estate plan after any significant life change, including:
- Marriage
- Divorce
- The birth of a child
- The receipt of a large inheritance
Major life events can impact your financial situation, your goals and wishes, which can ultimately affect your estate plan. Additionally, changes in laws or your health might necessitate updates. At Russo, Rosalina & Co., LPA, our attorneys can help you assess your circumstances and provide you with all of the information you need to make informed decisions regarding your estate plan.
Why Do You Need To Plan Your Estate At Every Stage Of Life?
People often associate estate planning with the end of one’s life. Rather than wait until you are elderly, though, it is a good idea to start planning your estate as soon as possible. You have different needs at every stage of your life, and your estate plan should reflect this. Estate planning is a continual process, not a one-time thing.
Consider the following reasons for establishing and updating your estate plan throughout every stage of your life. No matter what kind of property you have or what your expectations for the future might be, establishing your estate plan is one of the best investments you can make in your future.
Provide For New Family
Whether you are getting married or welcoming a child into the world, expanding your family is one of the most exciting parts of anybody’s life. While this joyous new phase preoccupies you, it is understandable that estate planning would be the last thing on your mind. Adding to your family, however, necessitates that you ensure you have provided for them regardless of what happens.
Adapt To Changing Needs
Additions to the family are not the only reason to establish or update your estate plan. Your needs and abilities change gradually, so while you might have had limited assets to account for at age 21, at age 30, you are likely to be in a different situation. You should update your estate plan to account for your changing needs as you grow older.
Prepare For The Future
Of course, the older you get, the more important it is that you have an estate plan established. You need to provide for your loved ones and ensure that your final wishes are honored. Outlining this in your estate plan is an important step, and it is the most effective way to prepare for the future.
Deciding Who Will Take Over: Powers Of Attorney
Designating power of attorney is essential to a comprehensive and secure estate plan. It consists of a legal document that gives someone the authority to act on your behalf. In Ohio, many estate plans include two types of power of attorney, one for finances and one for health care. These powers of attorney are durable, which means the power of attorney holds after incapacitation. If there is not a named power of attorney, the court will appoint a guardian to make those decisions.
Our experienced estate planning attorneys can help draft customized power of attorney documents to suit your needs and safeguard your interests. A power of attorney can give you peace of mind that you and your loved ones will be protected.
Long-Term Care Planning
As people age, some may need to move to a long-term care facility or hire an in-home nursing aide. Long-term care costs can be vast, and no one wants to burden their family members with that responsibility. Taking steps to be proactive about planning for long-term care needs can alleviate some of the stress and burden on loved ones and ensure that you or your loved one can get the care they deserve.
At Russo, Rosalina & Co., LPA, our Cleveland estate planning attorneys will get to know your needs, hopes and plans for the future and discuss your long-term care options. A long-term care plan can include asset protection and Medicaid planning measures, including irrevocable trusts and long-term care insurance. We will analyze your assets and other financial information to determine your best options and tailor a plan to protect you and your family.
Wills And Trusts: The Cornerstone Of Most Estate Plans
Wills and trusts are often the most utilized tools in estate planning. Deciding who you wish to inherit your estate is a common goal and purpose for many clients.
A will allows you to dictate your wishes about the distribution of your estate after your death, including designating a guardian for minor children, distributing property and naming an executor of your estate. The courts will decide for you under Ohio state laws if a will is not in place. These decisions may not reflect your wishes, so you must include a will in your estate plan to protect your interests.
Unlike a will, which only has legal authority after death, a trust may be used to manage assets during a person’s lifetime or after death. When creating a trust, the grantor transfers assets to a trustee, who manages the assets for the named beneficiaries. When assets are placed in a trust, they do not need to go through the probate process, making it easier on your loved ones and shielding assets from public records. There are various types of trusts our attorneys can assist you with. We will sit down with you and determine which is best for your goals.
Revocable And Irrevocable Trusts
Revocable and irrevocable trusts are different types of trusts with advantages and use depending on your needs. A revocable living trust can be changed anytime, whereas an irrevocable trust cannot be changed.
A significant advantage of a revocable trust is the flexibility that comes with it. While you may be certain now that your wishes will not change, you may want to add or remove a beneficiary, for example. With a revocable trust, you can make that change without creating an entirely new one. However, a revocable trust does not protect the assets in your trust as an irrevocable trust does.
What To Look For In A Cleveland Estate Planning Attorney
Choosing the right attorney is critical for estate planning, as you must work with someone who gives your case the time and consideration it deserves. At Russo, Rosalina & Co., LPA, our lawyers treat every client with the utmost respect, investing themselves in the matter to design the right estate plan for each client.
What estate planning means for you may be far different than what it means for someone else, and our team works hard to consider your specific needs and your desires for the plan. With over 30 combined years of experience, our attorneys understand what it takes to meet the goals that each client has and provide an estate plan that makes end-of-life decisions and the transfer of assets as easy as possible. They take the time to create a custom strategy that is tailored to your needs and addresses all your questions and concerns.
Key Areas To Consider
In addition to experience, below are a few key things to look for in an estate planning attorney:
- A strong firm focus on estate planning: You need someone who knows the nuances of this complex area of law.
- Options to update and maintain your estate plan: It’s wise to do this frequently, especially after big life events like a marriage, a divorce or the birth of a child or grandchild.
- An attorney who makes you comfortable: Estate planning involves a discussion of personal life details, and you need someone who puts you at ease and demonstrates compassion and a willingness to help.
- Experience with all options and considerations: This is about far more than just writing a will. You may need to determine end-of-life directives, a legal power of attorney, a medical power of attorney, revocable and irrevocable trusts, business succession planning and more.
What Does An Estate Planning Lawyer In Cleveland Do?
Like with any legal matter, hiring an attorney to help you ensure that everything is done correctly can make a huge difference in your result. Estate planning attorneys are well-versed in the laws that impact how your estate will be valued, distributed and taxed under state and federal law.
When you work with an estate planning attorney, you can create an individualized estate plan based on your unique needs instead of generic online forms. You also will be able to have your questions answered, and your options thoroughly explained to you. We can prepare important forms and documents, such as wills, and prepare trusts and power of attorney documents for health care or financial decisions.
It is never too early or too late to start an estate plan and to meet with an estate planning attorney. We can help you at any stage of the process, from explaining your options to assisting with estate administration.
Questions To Ask When Choosing An Estate Planning Attorney In Northeastern Ohio
Choosing an estate planning attorney is an important decision. There are many factors you should consider, including location, reputation, years of experience and fees. During an initial consultation, you will have the opportunity to ask questions to help you determine if an attorney is the right fit for you.
Some questions to ask when choosing a Cleveland estate planning attorney include:
- How much will it cost?
- What is included and not included in your fee?
- What happens in the first meeting?
- What if I want to make changes later?
- How much of your practice is focused on estate planning?
At Russo, Rosalina & Co., LPA, our experienced attorneys are here to answer your questions about us and the process itself. Whether you need help drafting a will or navigating a probate dispute, we have the skill and knowledge to help you.
How Can A Cleveland Estate Planning Attorney From Russo, Rosalina & Co., LPA, Help You Plan For The Future?
An estate planning lawyer from Russo, Rosalina & Co., LPA, can guide you through the process of creating a personalized and comprehensive estate plan that meets your unique needs. We help you understand your options so that you can make informed decisions. We can draft documents like wills, trusts and powers of attorney.
Our estate planning attorneys provide advice on minimizing taxes and avoiding probate, to facilitate a smooth transfer of your assets to your beneficiaries. We also assist in setting up health care directives and guardianships if needed. By working with us, you can confidently plan for the future, knowing that your loved ones will be taken care of according to your wishes.
Our experienced Cleveland estate planning lawyers can analyze your situation to help you decide on the best kind of trust to suit your needs. With years of experience assisting clients with protecting their assets and futures, you can trust us to provide you with trustworthy and honest legal guidance.
Consult A Cleveland Estate Planning Lawyer Today. We’ve Been Serving Northeastern Ohio For Decades.
You don’t need to know exactly what you need for your estate plan. Our experienced lawyers can help you figure that out. To schedule a personal consultation with one of our probate and estate planning lawyers, you can send us a message or you can call us at 440-663-1535.