Dayton Estate Planning Lawyer
Protecting & Planning for the Future
Estate planning is quite simply the process of putting your affairs in order before you pass away or in the event you become incapacitated. Having a solid estate plan will ensure the greatest part of your assets pass to your designated beneficiaries in a quick and cost-effective manner. Everyone has an “estate,” whether you believe that you have substantial assets or not. If you do not have a proper plan in place when you pass or become incapacitated, Ohio law will automatically manage or distribute your property for you. No one should let the government make those decisions for you.
The benefits of estate planning include:
- Determining who will take care of your health and property should you become incapacitated;
- Minimizing the cost and delay of transferring your property upon your death;
- Designating the people who will care for your children and pets should you become unable;
- Providing for the orderly operation and transfer of your business;
- Minimizing the stress for your loved ones; and
- Maximizing the transfer of wealth to your loved ones in a manner and method determined by you.
Devising Comprehensive Estate Plans
Our Dayton estate planning attorney offers a comprehensive approach to devising a workable estate plan, taking into account the following: family goals, wealth preservation, taxes, estate administration, business succession planning, charitable gifts, and contingencies for clients located throughout Ohio.
We utilize legal tools to craft a specifically-tailored plan for our clients, including:
- Revocable Trusts;
- Bypass or Family Trusts for Surviving Spouses;
- Generation-Skipping Transfer (GST) Trusts;
- Irrevocable Life Insurance Trusts (ILITs);
- Special Needs Trusts;
- Installment Sales Agreements;
- Financial Powers of Attorney;
- Veteran’s Benefit and Medicaid Trusts;
- Health Care Powers of Attorney; and
- Living Wills.
Our Dayton estate planning lawyer and staff begin with evaluating our clients’ goals, meaning we strive to know our clients, and allow our clients to know us. This is a collaborative process between our attorneys and clients, as well as involving other professionals including accountants, investment advisors, insurance brokers, and health care providers.
Steps to Estate Planning with David Brannon, Attorney at Law
- The first step is a planning stage, where we gather information from you, discuss objectives, and provide you with an overview of what documents we believe would fit those objectives best. We will also provide you with the anticipated cost of any services we provide. If approved by you, together we design and craft a plan for your needs.
- The next step is for our attorney to draft documents and implement your plan from the initial design. Our estate planning lawyer in Dayton and staff will review the documents and plan, and arrange for the execution of those documents. There will likely be additional steps to ensure the plan is effective, such as changing beneficiary and heir designations on financial accounts, deeds, insurance, and/or funding trusts.
- The final step is to maintain the estate plan, which includes reviewing or revising documents when you have a major life event, such as a birth, marriage, or divorce. A change in financial circumstances, inheritance, or death of a family member may trigger revisions. Periodic reviews are recommended to ensure your plan takes advantage of changes in the law or tax code. It is recommended for everyone to review their estate plan at least once every two years, regardless of life changing events.
Regardless of your financial status, age, or health, everyone needs a plan in case of incapacitation or death. Our Dayton estate planning attorney will design and deliver a proper plan for you.
Call (937) 203-2527 to schedule a free consultation.