Time marches on, and you may suddenly find yourself at or near your long-awaited retirement. If so, and you still do not have an estate plan in place, now is the time to protect your loved ones through a comprehensive estate plan. The first order of business is to...
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Estate Planning
You can skip probate?
Yes — it is true, for many kinds of assets. The best way to keep a critical asset out of the probate process is not to own it – at least, not all by yourself. We at Mahaffey & Associates LLC encourage clients in the Toledo area to consider the benefits of...
3 reasons why you need a healthcare directive
The truth is, no one ever truly knows what the future holds, which is why you need to do everything possible now to prepare for unanticipated situations, including medical emergencies. For many, a crucial part of this preparation includes a healthcare directive. Also...
5 reasons why everyone needs an estate plan
Regardless of net worth or age, everyone needs some type of estate plan in place — unless you like the idea of other people deciding what will happen with your property. In fact, whether you trying to protect your hard-earned assets for future generations or simply...
2 reasons why millennials avoid estate planning ― and why they are wrong
According to a recent survey conducted by Care.com, only 42 percent of adults in the U.S. have an estate plan — meaning an alarming 6 out of 10 have no wills or trusts in place should they pass away. While these numbers are bad enough, they are actually even worse...
Estate planning tips for horse owners
Many Ohio residents are also horse owners and have poured a great deal of time, energy and money into their beloved equines. Handling these animals within estate planning can be a challenge, as horses have very specific needs that often cannot be properly addressed by...
Retirement trusts can provide for grandchildren
Each and every Ohio family has a unique set of needs when it comes to creating an estate plan. Passing down accumulated wealth to one’s children is a common estate planning theme. However, there are cases in which all of a couple’s children are already doing well for...
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...
Is your estate planning safely stored and accessible?
Although thoughts of death are not something one wants to linger on, it is a reality. Ohio residents may recognize the importance of organizing important documents and storing them in a manner that will be readily accessible to surviving family members in the event of...
Estate planning can help businesses remain viable for generations
For those in Ohio who own a business, ensuring that the business continues to operate after one’s death is often a primary concern. Many people have made their business venture one of their top priorities throughout their lives, and want to see that hard work passed...