Cleveland Wills And Trusts Lawyers

Regardless of the size of your estate, it is important to devise an estate plan that will make sure your assets are distributed the way you want. You should also make sure that you have health care directives in place to ensure that you are cared for in the event you are unable to make decisions for yourself.

Russo, Rosalina & Co., LPA, can provide you with a comprehensive, reasonably priced and custom-tailored estate plan that includes a will, trusts, living will, powers of attorney and more as best befits your needs. Since 1978, our attorneys have helped draft over 40,000 wills and estate plans; our lawyers have experience in a wide range of estate-planning techniques. For more information about how we can help you plan for and secure your family’s financial future, contact the Cleveland estate planning lawyers at Russo, Rosalina & Co., LPA, today. We have offices in Mayfield Heights and Parma to conveniently serve you.

What Is A Will?

It is a legal document that outlines your wishes regarding the distribution of your property and the care of any minor children upon your death.

A will specifies who will inherit your assets (real estate, personal belongings, financial accounts). It can allow you to designate guardians for your minor children, ensuring they are cared for by someone you trust.

What Can You Include In Your Will?

You can include many important details to ensure your estate is managed according to your preferences. Here are some elements to consider:

• Executor appointment: The person you designate to carry out the terms of your will
• Guardianship: The names of guardians for any minor children or dependents
• Beneficiaries: The individuals or organizations who will receive your assets after your death
• Specific bequests: Detailed instructions on who gets specific items or amounts of money
• Residue clause: Instructions for distributing any remaining assets not specifically mentioned in the will
• Funeral arrangements: Your preferences for your funeral or memorial service

A clear will helps prevent potential disputes among your heirs and can provide invaluable guidance to your chosen estate executor.

Where Should You Keep Copies Of Your Will?

It is incredibly important for your loved ones to be able to locate your will after your death. This becomes tricky because ideally, you should update your will once a year or so. People’s lives change, and you may come into more money or have another child, which impacts how you want to divide your assets upon death.

Every time you want to update your estate planning documents, you should go through the proper channels. Handwriting changes you want to make in the margins of the papers will not hold up in court. You should see an attorney every time you want to change your will, and you should create at least three copies to store in the following locations:

With Your Cleveland Wills Lawyer

The latest copy of your will should go to your Cleveland wills attorney. That way if the other copies end up missing or destroyed, your lawyer still has some backups. Additionally, you may want to give a copy to whomever you make the executor of your estate because this individual will need to locate your will most immediately after death.

In A Safety Deposit Box

It can also help to keep one copy for safekeeping in a bank’s safety deposit box. Most legal professionals recommend giving a loved one access to the box, too. Otherwise, if you die, then your family members and friends will have to through legal channels to access it.

In Your Home

Finally, you want to have one copy readily accessible in your house. You should keep the documents in a secure box that will remain safe in the event of a fire or flood. This makes it easy for you to review your will from time to time to determine if you need to update it. If you will keep a copy in your home, then you need to make sure to inform the beneficiaries and executors of the location.

What Is A Trust?

It is an arrangement whereby one party, the grantor, transfers assets to another party, called the trustee, who manages them for the intended beneficiary.

Trusts help you manage and protect your assets during your lifetime and after death. Potential benefits include probate avoidance and reduced estate taxes. A revocable trust can be altered or revoked by the grantor during their lifetime, while an irrevocable trust cannot be changed once it is established.

How Can You Execute Property Transfers?

In estate planning, they can be executed through various deeds. Common types include:

• Warranty deeds, which guarantee clear title
• Quitclaim deeds, which transfer ownership without guarantees
• Grant deeds, which confirm the grantor has not transferred the property to anyone else.

Each deed serves a specific purpose and offers different levels of protection, ensuring your property is transferred according to your wishes.

The Importance Of Sound Estate Planning

Estate planning is an important process for those interested in protecting assets, minimizing tax burdens, creating a living will and ensuring that their wishes are met both now, as they get older and, eventually, at the time of their death.

Russo, Rosalina & Co., LPA, can help you craft the legal documents you need to protect your loved ones. We can help you prepare your:

• Last will and testament
• Survivorship deed, transfer on death deed, quit-claim deed
• Durable power of attorney
• Living will or living trust
• Special needs trust
• Health care directive or medical directive

Our attorneys are also in a position to assist you in probate administration matters, including disputes regarding contested wills. Our office routinely provides more than just one service over the lifetime of our relationship with a client. Clients are comfortable with our family atmosphere and are also very satisfied with the work of our firm, whether it be amending a living will or helping to resolve a dispute regarding inheritance. Our clients remember Russo, Rosalina & Co., LPA, when they need a lawyer they can trust.

Schedule A Free Consultation With A Wills And Trusts Lawyer In Cleveland, Ohio

The family-run practice at Russo, Rosalina & Co., LPA, appreciates the intimate and personal nature of estate planning decisions, and we make sure that each client gets plenty of care and consideration from an experienced lawyer. We are a family law firm committed to compassionate client service.

With our experience in Ohio trust law, living wills and health care directives, we will handle your estate planning matter while fully respecting the confidentiality of your decisions. Use our online contact form or call 440-663-1535 to schedule a meeting with the Cleveland wills and trusts lawyers of Russo, Rosalina & Co., LPA, today.