Disabled Individuals May Save and Invest Without Losing Need-Based Benefits

Disabled Individuals May Save and Invest Without Losing Need-Based Benefits

Back in 2016, then Ohio Treasurer Josh Mandel announced a new program called STABLE, which created a new type of investment account that had certain tax advantages, and was available to disabled Ohioans and their families. Ohio was the first state to create such a program, and it has since been expanded to residents of all states…READ MORE.

My Ex Is Named As Beneficiary On My Life Insurance Policy? What Happens If I Die?

My Ex Is Named As Beneficiary On My Life Insurance Policy? What Happens If I Die?

An issue that comes up more often than many may think is the following scenario: One spouse names the other spouse as beneficiary of a ife insurance policy. Couple gets divorced. Beneficiary designation is never changed. Policy owner dies. Does the ex-spouse get the life insurance proceeds? For many years, this question was covered by case law arising from different jurisdictions, with some jurisdictions coming to the conclusion that if the beneficiary designation wasn’t changed, the ex-spouse still received the proceeds and others concluding that the divorce effectively acted as a termination of the beneficiary designation…READ MORE.

Estate Planning and Digital Assets in Ohio

Estate Planning and Digital Assets in Ohio

Whether it be on-line bank accounts, social media accounts, e-mail accounts, etc., most people today have digital assets. When one becomes incapacitated or deceased, how does a fiduciary gain access to this information? First, one must become familiar with the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA).

The Ohio Supreme Court Gives a Win to Surviving Spouses Over Creditors

The Ohio Supreme Court Gives a Win to Surviving Spouses Over Creditors

In a somewhat surprising decision, the Ohio Supreme Court on December 12, 2018, in Embassy Healthcare v. Bell provided some relief to surviving spouses for the debts of their deceased spouses under certain situations. Now, a creditor must look to the deceased spouse’s estate first before pursuing the surviving spouse for payment.

NEW YEAR’S RESOLUTION: MAKE A WILL!

NEW YEAR’S RESOLUTION: MAKE A WILL!

It’s that time of year when best intentions are set forth and New Year’s resolutions are made. However, according to U.S. News and World Report, by February over eighty percent of those new year’s resolutions have been broken. For many, it is time to make a very important resolution that is easy to keep and will provide benefits for yearsto come. Make a will.

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