Estate Planning
No matter what stage of life you’re in, estate planning is essential to manage assets according to your wishes. Gain peace of mind knowing that your affairs are in order and your loved ones are protected.
Protecting Your Family’s Future
Preserve, Protect, Prepare
With over 30 years of legal experience, we’ve partnered with thousands of families to avoid the costly probate process and create long-term readiness.
Estate Planning Essentials
Not all estate plans are equal. We’ll personalize your essential planning documents to meet your needs.
Health Care Power of Attorney: Avoid a probate-appointed guardian by giving someone you trust the power to make important health decisions if you can’t.
Financial Power of Attorney: Ensure your finances are managed by someone you trust when you are medically unable to take care of your bills, taxes, and healthcare costs.
Last Will and Testament: Secure your estate, the inheritance of your assets and resources, and define who will serve as guardians for minor children.
Designating Beneficiaries: Bypass probate by designating beneficiaries for your bank accounts, retirement plans, life insurance policies, and other assets.
Click here to learn more about wills
Trust Planning
Beyond the basics. Safeguarding your retirement so it lasts a lifetime requires protecting assets and quality of life.
Establishing a Trust: Protect your estate from tax implications and build flexibility for how and when assets will be distributed to protect and preserve them for your beneficiaries.
Building for Your Needs: Discover the different types of trusts and asset protection options that exist, personalizing your long-term plans for your situation and needs.
Click here to learn more about Trusts
Answers to Frequently Asked Questions
Here are answers to questions we hear most often about Estate Planning:
What is a Will?
A Will provides for the orderly distribution of assets after death. Wills do not avoid probate. Wills have no legal authority until the willmaker dies and the original Will is delivered to the Probate Court. Wills are essential for anyone with minor children - it is the only way to appoint the new “parent” of an orphaned child.
I have a will, so I don’t need to worry about probate right?
About 95% of the time, with only a basic Will, the case goes to Probate. This means waiting 6-9 months to settle an estate and incurring legal fees and costs up to 7% of the total value of the estate. However, there are estate planning strategies to avoid Probate. Cleveland Elder Law uses a robust estate planning strategy ensures your loved one will not be left to navigate Probate.
At what age should I get a Power of Attorney?
Powers of attorney are not just for seniors. A health care issue or accident can occur at any age, whether 18 or 88. We recommend powers of attorney be prepared for anyone who is 18 or older. Our team even talks to graduating high school students about the importance of these documents for their 18th birthday!
My parents’ health is declining, and they have no estate planning in place. What do I do?
Get them to meet with an elder law attorney like us, no matter the size of their estate. An elder law attorney can look at all their assets and suggest an estate planning strategy that will align with their long-term needs.