At Noble, Montague & Moul, we believe the more you know about
the law, the more you can use it to your benefit. We hope you will
find these articles useful. If there are any areas that you would
like to see featured, drop by our office and tell us.
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Transfer on Death Deeds
Ohio has enacted a new law that makes it possible for land owners to create a deed that will transfer their real estate to those named beneficiaries, at their death, without the necessity of probate.
This law particularly benefits single elderly citizens whose principal asset is their personal residence. Although, it can be useful in any estate plan.
By creating this new deed, it is now possible for the single citizen with limited assets to engage in estate planning to avoid or lessen probate of their estate much the same as we are able to do with living trusts. It permits the homeowner to continue with full ownership of their real estate during their lifetime, including the power to sell it. If the real estate is still owned at the time of death, it will pass to the named beneficiaries with the least amount of legal activity.
If you would like to know more about Transfer on Death Deeds, and how they may have a place in your estate planning, give us a call.
According to a recent article in USA Today, "Unless you live in a cave and subsist on roots and berries, you need a will". It is hard to ignore such eloquence. You may be surprised at the modest cost of getting a will. Give us a call.
Good fences make good neighbors. The Ohio Legislature seems to agree. It has enacted laws to define contruction and maintenance rules for rural boundary fences. Find our your rights and duties before you erect that fence. Give us a call.
Cngress has done it again, as it does every year, they have changed the income tax laws. Let us help you sort it out and do your income tax returns.
There are only two things in life you should never scrimp on. The first is a parachute. The second is your estate plan. In both cases, you only use them once and they have to work perfectly because you won't have an opportunity to fix a problem. Ohio has an estate tax in addition to Uncle Sam, and it can pay to create an estate plan to minimize or eliminate it as well.
LIMITED LIABILITY CORP
Limited liability corporations are ideal for many small business. One often over looked is the family farm. It can be a good way for the transfer of assets within the family. Ask us about the advantages of an LLC with your situation.