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

Estate planning conversations are often avoided by spouses

Estate planning, just like a prenuptial agreement, is a conversation many Ohio couples prefer to avoid. However, some suggest that the sense of security provided by proper estate planning can be the greatest gift a family can receive. Discussing death or possible incapacitation of a spouse will always be difficult, but once addressed, it can be put away and only revisited in the event of changes such as a marriage, divorce or the birth of a child.

To prepare for the process of drafting an estate plan, it is suggested that both spouses work together to determine what they have and what they need. The insurance coverage provided by an employer might not be sufficient and could be lost when jobs are changed. Furthermore, it is advisable to ensure both parties have life insurance, even if one is a stay-at-home parent. In the event of that parent's death, funds to pay for child and house care will be required. Careful consideration is required when beneficiaries are selected for the life insurance policies.

Once insurance has been addressed and understood by both spouses, each party would be wise to draft a will. This document will determine the designated recipients of a person's assets upon death; it will also name the executor who will manage the estate as well as the powers of attorney who will take control of financial and health-related decisions. Another important conversation that is often avoided involves each spouse's final wishes, including preferences related to burials or cremations as well as one's wishes regarding life-support. It is vital that these wishes are recorded and stored in a place where loved ones can have access to it immediately upon the death or incapacitation of a spouse or parent.

Most of these procedures can be done with self-help programs that are available, but it may be a better idea to consult with an experienced Ohio estate planning attorney. A lawyer can provide guidance and support for ensuring that all the complex aspects are covered. Along with the advice of insurance professionals, a lawyer can craft an estate plan that will ensure financial and personal assets are distributed correctly and in the intended manner upon the death or incapacitation of the client.

Source: USA Today, "5 ways couples can tackle estate planning now", Barbara Marquand, Nov. 14, 2015

No Comments

Leave a comment
Comment Information
Tell Us About Your Legal Need

Tell Us About Your Problem

Bold labels are required.

Contact Information

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.


Privacy Policy

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

Sylvania Office
8527 Central Avenue
Sylvania, OH 43560

Toll Free: 888-422-6894
Phone: 419-829-2255
Sylvania Law Office Map

Northwood Office
3200 Woodville Road
Northwood, OH 43619

Toll Free: 888-422-6894
Phone: 419-693-5515
Northwood Law Office Map

Toledo Office
3131 Executive Parkway, Suite 100
Toledo, OH 43606

Toll Free: 888-422-6894
Phone: 419-472-5555
Toledo Law Office Map