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Below is Ohio Revised Code 2113.35 which establishes the fees which an Executor of an estate will be paid. Proper planning can significantly reduce or eliminate these fees. 2113.35 Commissions. (A) Executors and administrators shall be allowed fees upon the amount of all the personal property, including the income from the personal property that is…

Ohioans can now set up trusts to shield personal assets from creditors. Proponents say the change is good for residents as well as the state. The Buckeye State stepped into the fiduciary spotlight when the Ohio Legacy Trust Act took effect in March. The new law provides individuals protection from future creditor claims by recognizing…

The purpose of this article is to give you guidance on some of the questions you may have when your spouse or other loved one dies. This article is written to suggest actions to take rather than setting forth questions. I. Notify Loved Ones, Friends, and Other Important Persons. a. Notify family members as soon…

I have recently been engaged by the families of several decedents to help with the probate of their loved one’s estate. In each of these cases, I will spend many months and thousands of dollars in administrative fees to complete probate. While I am not complaining about the fees I will earn, it is sad…

Dave and Linda decided they wanted to improve their home in Franklin County by adding a parking pad and widening their driveway. They live in an area that does not have curbs, sidewalks or street lighting. They toured the neighborhood to get some ideas of what other neighbors had done to improve their driveways. They…

In the last edition of the WealthCounsel Quarterly, Steve Oshins provided an overview of Domestic Asset Protection Trusts and James Kalicki examined Nevada’s DAPT statute (known as a “Legacy Trust”). The authors of this article were involved in the drafting and passage of the law and were invited to meet the Governor when he signed…