Estate Planning: Last Will and Testament

Chances are good you haven’t given any serious thought to planning a Last Will and Testament. Most people just generally think they don’t need one. But as we all know, life happens. And if it happens to you it is best to be prepared. Regardless of your age you should at least have a will.

Let’s say you have a relative, perhaps a cousin. You HATE this cousin. The two of you have never gotten along, you are always fighting, and worst of all he is a Steelers fan. What a loser! Anyway, some unfortunate accident happened, and you die; and despite your best efforts you couldn’t take all your possessions into the next life with you. On the flip side, maybe you have a relative you LOVE and want to repay them for that time they lent you five bucks at the Drive Thru. If neither of those apply, possibly your church or other organization.

Ok, no problem, we will just take a quick look at your will but you never went and got one! So you have now died Intestate, which is the legal industry term for “Person with no will.” But you still have property that needs to be dispersed so Ohio gathers up all your stuff, appoints an Executor, and the Executor just gives away your property to your next of kin and closes the estate.

               But how does Ohio determine who your next of kin is going to be? Well, we start with you and look downwards. Do you have any living children? They are your next of kin. If you don’t have any living children Ohio just keeps going down until they find a living descendant. But you died childless! So now Ohio goes up. Any living parents? No? Do your PARENTS have any living descendants? If they don’t, do you have living grandparents? No living grandparents means Ohio looks for any living descendants of your grandparents. And what do you know, that cousin of yours is still alive and he gets EVERYTHING! Yeah, even that Browns jersey you specifically told your family you wanted to be buried in.

               Well screw that guy! He wouldn’t appreciate your earthly belongings, so how do you make sure he gets nothing? How do you make sure you the loved ones you care about get everything? You make a will!

               Whether its disowning one of your relatives, making sure your family doesn’t fight over your stuff (Probate Court is often referred to as “Divorce Court for siblings”), or just making sure your best bud knows to erase your browser history you are going to need a will to accomplish it. It doesn’t have to be anything fancy. Just make sure it clearly identifies you, your possessions, and you sign it in front of two witnesses. Simple as that!

               If you are curious: If your grandparents have no living descendants Ohio gives your possessions to your step children. If you have none, Ohio gets to keep everything.

For more information on this topic please call my office at 216-373-0800.

Next month we will discuss Divorces.

Disclaimer:  The article in this publication has been prepared by Goldstein Legal Services, LLC for informational purposes only and should not be considered legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney/client relationship.