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Ohio Estate Planning, Trust & Probate Law
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Since January 2006, A law blog (BLAWG) for professionals and the general public in Ohio regarding estate planning, trust and probate law.
Recent Posts Tagged With 'beneficiary designation'
Some Life Events Should Prompt a Visit to Your Estate Planning Attorney
The following is a list of events that warrant setting up an appointment with your estate planning attorney: First Marriage – In most instances when a couple marries, they will want reciprocal wills that leave their estates to each oth...
U.S. Supreme Court Decision Emphasizes the Importance of Updating Your Beneficiary Designations After Divorce
The decision of the United States Supreme Court in Kennedy v. Plan Administrator For DuPont Savings Plan stresses the importance of updating your beneficiary designations after a divorce. The Kennedy case is a classic example of the black letter law...
A Charitable Alternative to Cashing in Your Life Insurance
In our prior post, we addressed the possibility of a life settlement as an alternative to taking the cash surrender value of an unneeded life insurance policy. Another alternative is gifting the policy to a charity and taking an income tax charitab...
Life Insurance Review Part II – Minor Child as a Beneficiary
Another life insurance planning mistake is naming a minor child as a beneficiary. This will almost certainly require that a guardianship be set up for the child through the probate court, incurring court costs and attorney fees. The probate court...
Life Insurance Review Part I – Beneficiary Designations
If you own life insurance, chances are you have designated a primary beneficiary and a contingent beneficiary. If your primary beneficiary is living at your death, she will inherit the insurance proceeds. If your primary beneficiary fails to surv...
