ESTATE PLANNING

ESTATE PLANNING & ADVANCE CARE PLANNING

Protecting Your Assets & Your Health

When it comes to estate and advance care planning, what we’re really talking about is problem solving ahead of time. But one thing estate and advance care planning is not…it is not a discussion reserved only for seniors. 

Whether you’re married, single or in a partner relationship, planning early only makes sense. That’s because you control the aftermath of unintended events such as medical incapacitation or death. And that saves your loved ones time, anguish and money. 

Why Estate Planning and Advance Care Planning? 
Life can throw a lot at you. Here’s why we say that estate and advance care planning isn’t just for the wealthy.
  • If you die without a will, the State of Ohio decides the manner in which your property is distributed.
  • Not protecting your home, savings, and retirement from nursing home costs and avoidable taxation can drain an estate.
  • Without a Healthcare Power of Attorney or Living Will, decisions about your health can be made by strangers outside your family. 
What a Smart Estate Plan Will Do For You
Our estate planning focuses on your family. We want to protect your assets so you can enjoy retirement and pass on your legacy to designated heirs. During our meetings we will discuss estate planning, Healthcare Power of Attorney, Living Will and Durable Power of Attorney. Also, depending on your income, assets, and investments, we may recommend a Living Trust. 

Here’s what a thoughtful estate plan can do: 
  1. Your Will Makes Sure Assets Go to Intended Beneficiaries - We help you create a Last Will and Testament that directs the passing of assets the way you want. We suggest that you draw up your Will early in life. As circumstances change, we’ll be there with you, making the changes that best reflect your intentions. 
  2. Choose Proper Guardians for Your Children - If you have children, you probably think you’re too busy to worry about estate planning. But what if you and your spouse die in an accident? Who will take care of the children? If you designate guardians ahead of time, your children will be raised in a household of your choice. If you don’t, the state of Ohio will decide where they will reside. 
  3. Save on Taxes, Probate, and Administrative Costs - Though the Ohio Estate Tax was repealed effective January 1, 2013, if your estate is large enough it could be subject to Federal Estate Taxes. We help many high net worth individuals plan their estates with Living Trusts to minimize taxes. A Living Trust can also avoid probate, reducing or eliminating administration costs. In addition, we’ll help you protect your assets from the crushing costs of nursing home care. 
  4. Keep Peace in the Family - You want to avoid family members having disputes over your estate. You choose who controls your finances after your death. You don’t want your loved ones litigating over control of your estate. 
Keep Healthcare in Your Hands with Advance Care Planning
You might think that a Healthcare Power of Attorney and Living Will are only important for seniors. But no matter what your age, illness and accidents can happen. In fact, in Ohio, traffic accidents are a leading cause of death and disability for young people. 

Fiehrer & Fritsch, LLC gives clients the peace of mind that their healthcare wishes will be followed per their instructions. Here’s how:

Healthcare Power of Attorney
Most of the time, you make your own healthcare decisions with your physician. But what happens if you are unable to make those decisions for yourself? You don’t want people you don’t know making decisions for you. 

A Healthcare Power of Attorney, sometimes called a Durable Power of Attorney for Health Care (DPOA), is the answer. It allows you to appoint an agent to get your health information and communicate with your providers when you are unable to. The agent can be any adult who is not your physician or an administrator of your health facility. 

You don’t have to worry because the person you pick as your healthcare power of attorney must make medical decisions consistent with your values, preferences, and previous discussions with your loved ones. 

Living Will
Medical technology is so advanced today that people can be kept alive by artificial means. It keeps people alive who may not otherwise survive. A Living Will is a legal document that clearly articulates your directions as to the use of artificial life support if you become terminally ill or permanently unconscious. Your Living Will can also include a Do Not Resuscitate (DNR) order. 

Fiehrer & Fritsch is Here for You Every Step of the Way
We are experienced Estate Planning and Advance Care Planning attorneys ready to help you make sure your assets are protected and your healthcare managed as you direct. 
Please call 513.887.7300 or click below to discuss your estate planning and healthcare directives. 

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