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Estate Planning Attorneys Serving Beavercreek
Located on the eastern side of the metropolitan area of Dayton, Ohio, Beavercreek is considered a suburb of Dayton, with a population of about 47,000. Although Beavercreek, Ohio was first settled in the early 1800s, it was not incorporated until 1980. Beavercreek is among the most desirable locations in the Dayton area due to its outstanding quality of life. The rolling wooden environment lends beauty and charm to this area. Despite the serene surroundings, those in Beavercreek are much like people across the nation when it comes to estate planning. Having a Beavercreek estate planning attorney help
you determine the best estate plan for you and your situation can be an incredible asset for your future.
Planning for the future not only helps reduce the risk for all those involved, but also significantly increases the likelihood that those you leave behind will not have to deal with estate problems. Naturally, many of us find it difficult to contemplate the end of our lives. Estate planning can be beneficial, no matter your age or where you are in your life financially. Estate planning provides a legal framework that will vastly increase the likelihood of achieving the results you desire. Despite the myriad of benefits associated with estate planning, few Beavercreek residents have a solid estate plan in place.
Take the time now to think about the future. Think about who you want to leave your assets to, and how you want that to happen. Think about what would happen if you were to become incapacitated. Do you have a plan in place that would allow a trusted friend or loved one to make decisions on your behalf? Do you have young children that would require a guardian? Once you have thought about these questions, contact Lovett & House today to set up a comprehensive consultation regarding your Beavercreek estate planning needs.
Why You Should Choose Lovett & House for All Your Estate Planning Needs
Thinking about your future can put a damper on the present for many people. It does not have to be this way! You should approach estate planning in the same way you approach purchasing insurance—for your home, your car, your health, and your life. While you certainly hope you will not need that insurance, if you do you will be incredibly glad you have it. Estate planning is much the same.
Once you have your affairs in order, you will have the same peace of mind that purchasing insurance gives you. The difference is, while you may or may not use your car, house, or health insurance, all of us will die at some point, and many of us will require long term care when we are older or may become incapacitated and need another person to make decisions on our behalf. A highly experienced Beavercreek estate planning attorney from Lovett & House can help you plan for your future in the best way possible.
The Lovett & House attorneys offer a unique, free, five-minute phone appointment because we understand your busy schedule. Attorney George Lovett is certified by the Ohio State Bar Association in Estate Planning, Trust, and Probate Law. At Lovett & House, we use our extensive knowledge to help our clients take care of all estate planning matters. With decades of experience, Lovett & House also has more than 100 positive Google Reviews.
What is Estate Planning?
Many people are under the impression that only the super-wealthy have an “estate.” This is far from the truth. An estate includes any asset owned by an individual. Assets typically consist of money, real estate, personal property, and automobiles. Even if you are young, unmarried, and have no children, you likely still own some things that you would not want the state to dispose of if you should die. After you have had an estate plan drawn up by your Beavercreek estate planning attorney, it is important to remember that estate planning is rarely a one-and-done issue. You will need to periodically review your estate plan from time to time as your life changes. Marriages, divorces, the birth of children, the death of loved ones, a different job, or more assets can all require changes to your estate plan to ensure it stays current.
Why Would You Want to Avoid Probate?
Many people would prefer to avoid probate whenever possible. Probate is a judicial process that evaluates the assets in an estate, the beneficiaries, the debts owed, and the process of legally transferring the estate assets to the beneficiaries. Probate takes time and can be expensive and it is also a public process. If an individual leaves a will behind, an executor for the will is likely named.
Most people choose an executor they trust to follow their wishes to the letter. If the individual leaves no will behind, the court will appoint an administrator, then will determine how the estate should be distributed according to state law. Those who want to spare their families the process of probate may choose to use a Living Trust rather than a will. A Living Trust also has the advantage of stating who should make decisions on your behalf in the event of incapacitation.
What are the Primary Differences Between a Will and a Trust?
While it is more expensive initially to establish a Trust, it tends to be less costly after death. A Will tends to be a more cost-effective way of recording your intentions but requires more work following death, as well as probate requirements. A Testamentary Trust can reduce taxes paid by the beneficiary. Testamentary Trusts are, however, subject to probate—a Will is used to establish a Testamentary Trust.
How a Beavercreek Estate Planning Attorney from Lovett & House Can Help Plan Your Estate
The goal of the Lovett & House Co., LPA attorneys is to ensure your estate plan achieves your desired goals. Each person’s estate plan is different because each person is unique. Our attorneys will leverage our extensive experience to ensure you have an estate plan in place that reflects your current place in life, as well as your future goals. It is important that you not let the unexpected catch you off guard. We want to make sure you are fully prepared for all life’s ups and downs. We will listen carefully to you and your family members, discuss your individual estate, answer any questions you may have, then create an estate plan that will provide you with peace of mind. Contact Lovett & House Co., LPA today!