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Medina County estate planning attorney prenuptial agreement

It can be uncomfortable to imagine what life will be like when you are gone. You may be imagining your spouse lonely or moving on or you may picture your kids continuing to grow up without you there. While you may not be able to control what happens to your loved ones after you pass away, you are able to determine how you would like your assets dealt with upon your death. This may include your finances, property, or other valuable belongings that you would like to control whose hands they fall into. There are two types of legal documents that designate how your affairs will be handled after your passing, and deciding which works for you is an important step in the Ohio estate planning process.

What Is a Will?

A will is a legal document that allows you to outline where your assets will be distributed and how you would like your affairs handled upon your death. You will list out your various assets and name the person who will receive this asset. This will include your home, vehicle, any owned property as well as your financial savings. For those with children who are minors, creating a will is especially important. It will allow you to name their legal guardians in the instance of your death. This can be a difficult decision to make, imagining who will care for your kids in your absence, but this will keep your children from being placed with family members who you think may be unfit to care for them. You can also divide up your estate between your children within your will, or even remove a child or spouse from being a beneficiary if you wish.

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Medina County estate planning attorney willNobody wants to talk about what will happen to themselves or their family after death. It can be a difficult and uncomfortable conversation, but having a plan in place that determines what happens to your affairs when you die is important. The majority of Americans have not created any sort of estate plan, meaning the majority of American families will have an unnecessarily difficult time getting a loved one’s affairs in order after their death. Wills are a basic form of estate planning that everyone -- no matter if you are 25 or 95 -- should have in place should the unthinkable happen. 

Here are a few ways that having a will in place can benefit you:

1. You Can Make Sure Your Kids are Being Taken Care of By a Person of Your Choosing

One of the major components of a will is what will happen to your children if you die. If you do not designate a specific guardian for your minor children, the state will step in and will most likely give custody of your children to your next of kin. The person who the state gives custody to may or may not be the one who you would like to be looking after your children. Explicitly stating who you would like to take care of your children is important.

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