Mahaffey & Associates, LLC
Call For A Free Consultation
888-422-6894

Marriage alone is not a solid estate planning approach

There are a great many Ohio families in which the spouses intend to leave all of their assets to each other in the event of death. In many cases, both parties feel that they have worked hard to amass their wealth and that the fruits of that labor belong solely to their partner. Unfortunately, many are unaware of the best way to ensure that outcome, and they make the mistake of assuming that marriage is sufficient estate planning all on its own.

In reality, individuals who die without a will are in effect turning over the decision-making process to their state of residence. State law will dictate how assets are divided, and the end result may be far different from what was intended. The only way to ensure that one's wishes are carried out as planned is to put those plans into writing in the form of a legally binding will.

Without an estate plan in place, assets will go into probate, and the distribution of those assets will be handled according to the law. That means that all family members will be considered as heirs, even if the familial relationship has been abandoned or weakened long ago. A surviving spouse will still receive a portion of those assets, but children and other family members will also receive a portion of the pie.

Aside from losing assets, the absence of a will places surviving spouses in the difficult and unpleasant position of having to fight for what was intended to be theirs. This can lead to rifts within an Ohio family and resentments that will linger far longer than many imagine. Avoiding such an outcome is a simple matter and beings with creating a basic estate planning package.

Source: washingtonblade.com, "Myths of estate planning", Lawrence S. Jacobs, May 28, 2016

No Comments

Leave a comment
Comment Information

Ready To Help

Call Mahaffey & Associates, LLC, toll free at 888-422-6894 to speak with one of our experienced lawyers.

We offer free initial phone consultations. Evening and weekend appointments are also available upon request.

We accept Visa, MasterCard, Discover and American Express.

VISA | MasterCard | American Express | Discover Network
Tell Us About Your Legal Need

Tell Us About Your Legal Need

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

A Full Service Firm For Northwest Ohio with Three Convenient Locations 24/7 Phones And Appointments Taken at 888-422-6894.

Review Us

Sylvania Office
8527 Central Avenue
Sylvania, OH 43560

Sylvania Law Office Map Phone: 419-829-2255

Northwood Office
3200 Woodville Road
Northwood, OH 43619
Map & Directions Phone: 419-693-5515
By Appointment Only

Toledo Office
3131 Executive Parkway, Suite 100
Toledo, OH 43606
Map & Directions Phone: 419-472-5555
By Appointment Only