Diligent Wills and Trusts Attorneys in Bowling Green
Experienced Counsel Providing You with Peace of Mind
A last will and testament is the foundation of every estate plan. However, it’s important to understand that this isn’t the only estate planning tool that can help to satisfy your objectives. A variety of trusts can be used to manage your property and pass your assets to loved ones. At Middleton Law Offices, our adept wills and trusts attorneys will work with you and your family to create a comprehensive estate plan — and implement the legal tools necessary to ensure your future wishes are carried out.
Skillfully Drafted Wills to Carry Out Your Wishes
A last will and testament can allow you to make decisions regarding how your property and assets will be distributed when you pass away. Without at least having a valid will in place, your estate will be distributed in accordance with the intestate laws of Ohio — and the results may not be what you had intended. Significantly, with a well-drafted will, you can be in control of how your home, personal property, bank accounts, and other assets are divided.
A last will and testament can be used to accomplish the following:
- Appoint a guardian for minor children
- Designate an executor for your estate
- Outline your funeral wishes
- Specify how your assets should be divided
- Name beneficiaries who will receive your property
For many people, the thought of drawing up a last will and testament can be stressful and overwhelming. At Middleton Law Offices, we aim to take this burden off your shoulders. Our wills and trusts attorneys work closely with our clients to learn about their objectives and help effectuate them with a skillfully drafted will. With more than a century of experience in drafting wills for clients in Bowling Green and throughout northwestern Ohio, our firm has earned a well-deserved reputation for the compassionate counsel and high-quality legal services we provide.
Helping You Preserve and Manage Your Assets with Trusts
A will isn’t the only estate planning tool you should consider. Depending upon how they are constructed, trusts can come with a number of benefits and strategic advantages. In addition to providing asset protection from creditors, certain types of trusts can be used for tax planning purposes and to avoid the lengthy probate process. A trust can also be customized to specify how, when, and to whom your assets are distributed.
A will only becomes effective at the time of your death — this means it cannot be used to plan for the possibility of incapacity. However, a trust can be used to name a successor trustee who will manage your property in the event you become ill or disabled, and your incapacity prevents you from handling your financial affairs.
The estate planning attorneys at Middleton Law Offices assist clients with creating a variety of trusts, including:
- Living trusts — Also referred to as an “inter vivos trust,” a living trust can allow you to retain control over the assets during your lifetime and pass property to your chosen beneficiaries at the time of your death while avoiding probate.
- Testamentary trusts — A testamentary trust is created as part of a will. With this type of trust, you can direct the executor of your estate to place certain assets into a trust for the benefit of a beneficiary.
- Charitable trusts — Charitable trusts can be used to distribute assets to your named beneficiaries, with the remainder going to a charity of your choice.
- Special needs trusts — A special needs trust can be set up to hold assets for a loved one with a disability who qualifies for public benefits. Rather than distributing the income from the trust directly to your loved one, it can be used for their specific needs and preserve their eligibility for SSI, Medicaid, and other needs-based benefits.
- Medicaid asset protection trusts — While Medicaid eligibility depends upon your having limited income, a Medicaid asset protection trust can protect your assets from Medicaid’s reach and preserve them for your loved ones.
Critically, trusts are not just for high net-worth individuals. They are for anyone who seeks to preserve their hard-earned assets in the event of the unexpected and ensure they are passed on to their loved ones in the future. The legal team at Middleton Law Offices is committed to providing clients with the time and attention they deserve as we assist them with creating tailored trusts that satisfy their goals.
Contact a Knowledgeable Ohio Wills and Trusts Attorney
Wills and trusts are integral components of any estate plan. At Middleton Law Offices, our wills and trusts attorneys take the time to carefully consider your wishes and implement a plan that provides you with peace of mind. We offer our clients and their families reliable legal representation as we discuss their estate planning objectives and advise them of their options. Contact Middleton Law Offices today at 419.548.0196 for a consultation to learn how we can help.