Wills Attorney in Westerville

Estate planning in federal states, especially in Ohio, can be complex and may need elaborate skills. A wills attorney in Westerville, Ohio, plays a significant role in ensuring your estate plan reflects your legacy, minimizes complications for your successors, and your last will is carried out. 

Estate planning is the transfer of all your properties by drafting a will to include real estate, possessions, and financial accounts to an heir in the event of your death. It involves a detailed estate plan by organizing your assets (things you own, like cars, houses, and savings) and outlining how you want them distributed in the same will.

Wills are considered the foundation of a good estate plan. Whether you’re contemplating creating your first will or considering updating an existing one, our Westerville wills attorney is here to guide you through the process, offering our support every step. 

Quick Summary:

• A will is a legal document that dictates how a person’s assets will be distributed after their death. It allows the individual, known as the testator, to name beneficiaries, an executor, and a guardian for minor children, ensuring their wishes are carried out and their legacy is preserved. 
• Different types of wills serve various purposes in estate planning. Simple wills are straightforward documents ideal for uncomplicated estates, while self-proving wills expedite the probate process with an attached affidavit. Holographic wills, entirely handwritten and signed by the testator, whereas oral wills are spoken instructions given when a person is incapacitated.  A living will, distinct from a testamentary will, outlines medical care preferences. Finally, testamentary wills, commonly referred to as last will and testament, provide comprehensive instructions for asset distribution, guardianship, and executor appointment. 
• Dying without a will, known as intestacy, means state laws dictate how your assets are distributed. This often leads to unintended outcomes and additional expenses during estate administration. In Ohio, the surviving spouse typically inherits a portion of the assets, followed by children, parents, siblings, and other relatives, depending on the situation.
• Dying without a will can have negative consequences for your loved ones. It can lead to a reduced estate value due to higher administrative costs, unintended distribution of your assets, and delays and complications in the probate process. 

What is a Will?

Wills are considered the foundation of a good estate plan. It’s a legal document that outlines how you want your estate to be distributed to your heirs or beneficiaries after you pass away. 

• Anyone (testator) above 18 can create a will to choose beneficiaries (those who inherit your assets). 
• The will reflects your desires and ensures your legacy according to your plans. 
• It names an executor (to manage the estate) and guardian (for minor children).

What are the Types of Wills?

There are various ways to express your wishes for distributing your assets after death. Below is an overview of the different types of wills to consider when planning your estate:

Simple Will

A simple will is a legal document that outlines the distribution of simple assets and appoints an executor to carry out its provisions. A simple will is a straightforward will that outlines who inherits your assets and appoints an executor to manage the distribution process. It’s suitable for individuals with straightforward estates.

Self-Proving Will 

A self-proving will establish one or more trusts upon the testator’s death. A self-proving will has various purposes, such as providing for minor children, managing assets for specific beneficiaries, or achieving tax or financial planning goals. 

This type of will acts like a regular will but includes an affidavit signed by witnesses in the presence of a notary public. It can expedite the probate process by reducing the need for a separate court hearing to verify its authenticity.

Holographic Will

A holographic will is entirely handwritten and signed by the testator. Holographic wills may not need witnesses in some jurisdictions. Sometimes, holographic wills are only accepted in emergencies but may not be ideal for complex estate planning.

Oral Wills

Oral or nuncupative wills are verbal instructions by the testator on how their properties will be distributed upon death. It is written down by a representative (who can be considered a witness) when the testator is incapacitated to execute a formal will. Not all these wills are uniformly adopted in each state since they are usually subject to specific legal requirements, and not all jurisdictions recognize them.

Living Will (Not a Testamentary Will)

Living wills set out the testator’s wishes for medical care in some limited situations and are a proclamation to the medical staff of these wishes. Living wills are part of the testator’s estate planning but are more closely related to a health care directive than a last will.

It’s important to distinguish between a living will and a testamentary will. A living will, also known as an advance directive, specifies your medical treatment wishes in case you become incapacitated. It does not distribute assets.

Testamentary Will

A testamentary will, commonly referred to as a last will and testament, is a legal document that allows you to express your wishes for how your property and assets will be distributed after your death. It essentially acts as your final instructions regarding your estate. 

Some key points you should know about testamentary wills:

• Distribution of Assets: You can specify who will inherit your belongings, money, property, and other valuables. That includes dividing your estate among family members, friends, charities, or any other beneficiary you choose.
• Guardianship for Minors: If you have minor children, you can designate a guardian in your will who will care for them in the event of your passing.
• Executor Appointment: The will allows you to name an executor, a trusted individual responsible for managing and distributing your estate according to your wishes.
• Avoiding Intestacy: Having a will ensures your assets are distributed as you see fit, rather than following the state’s intestacy laws, which might not align with your desires.
• Peace of Mind: A well-crafted will provides peace of mind, knowing your loved ones will be taken care of after you’re gone. It reduces the burden and potential conflict during a difficult time.

In short, a testamentary will is an important tool for estate planning. It allows you to have control over your legacy and ensures your wishes are carried out after your death.

What Happens If You Die Without a Will?

If someone dies with property in their name, without designating beneficiaries, and without having a will, then the state laws of ‘intestate’ inheritance apply. In general, the intestate laws choose which family members receive your property and what percentage. 

Moreover, extra expenses are incurred in the administration of an estate without clear direction on the authority of the estate administration normally included in a will. That can reduce the estate resources for the estate beneficiaries and often may fail to meet the decedent’s life goals.

Here is a general overview of how intestate succession works in Ohio:

• Surviving spouse: If you are married, your spouse will inherit the first $20,000 of your assets plus one-half of any remaining assets.
• Children: If you have children, they will inherit the remaining assets after your spouse’s share has been distributed. The assets will be divided equally if you have more than one child.
• Parents: If you do not have a spouse or children, your parents will inherit your assets. If you have no parents, your siblings will inherit your assets.
• Other relatives: If you have no surviving spouse, children, parents, or siblings, your assets will be distributed to other relatives according to the intestate succession laws.

What are the Consequences of Intestacy?

Dying without a will, also known as intestacy, can create several complications and unintended consequences for your loved ones. Here’s a breakdown of some key issues:

• Reduced Estate Value: Administering an estate without a will is typically more expensive, potentially shrinking what your loved ones receive.
• Unintended Distribution: The state may distribute your assets differently than you would have liked.
• Delays and Complications: The probate process can be lengthy and complex without a clear will.

Why Do I Need a Wills Attorney In Westerville, Ohio?

Estate planning and probate proceedings can be meticulous and lengthy. Drafting a will can be inconvenient as federal and state laws are dynamic. Working with a Westerville wills attorney can give you peace of mind by helping you draft a streamlined will that you understand and within the principles of the law.  Here’s how a wills attorney can ensure your legacy is followed:

• Peace of Mind and Legacy Protection: A well-crafted will minimizes stress for your loved ones and guarantees your assets are distributed as intended. It’s a thoughtful way to secure your legacy.
• Legal Skills and Up-to-Date Compliance: Laws constantly evolve. A Westerville wills attorney ensures your will adheres to current federal and Ohio state regulations, preventing legal issues that could delay or disrupt the distribution of your assets.
• Detailed Planning: Beyond just a will, an attorney may recommend trusts, power of attorney designations, and other strategies to minimize taxes and ensure a smooth asset distribution process.
• Guidance Throughout the Process: A wills attorney provides ongoing support and ensures your will reflects your evolving needs and wishes. They ensure you are well informed of the legal matters surrounding estate planning and living wills in Westerville, Ohio. A wills attorney will guide you through the process, from creating the initial draft to finalizing the will. 

The Role of Our Wills Attorney in Westerville in Creating Wills

A wills attorney is your trusted legal advisor when drafting wills to name heirs, assign assets, and plan for your estate. Wills are more than legal documents. They are instruments of peace, security, and a lasting legacy. 

At The Law Office of David G. Bale, we understand the significance of wills and the peace of mind they can bring. We can assist in creating a will that minimizes the potential for disagreements and legal battles. 

Our estate planning law firm has extensive experience drafting wills, establishing trusts, and drafting other estate planning documents. If you have questions about a will or need help preparing a will, contact us today to schedule a free consultation and learn what options are available for you.