Summit County Estate Planning Attorney
| Summit County Estate Planning Attorney | | | |
 |  | | |
 |  | |  |
 |  | |  |
|
               | |
Why You Need Estate Planning
Implementing an estate plan requires more than just properly crafted documents. How assets are owned is equally important. Careful selection of the primary and contingent beneficiaries for those assets that have their own beneficiaries, such as life insurance, IRA's, 401K's, and annuities, is also critical. Signing a will or trust without attending to these considerations will insure that the plan fails. We see serious failures like these regularly, only because a person did not understand some basic legal principles before he or she died. Estate Planning Practice Areas Our goal is to provide you with practical solutions to your estate planning concerns, also with an emphasis on asset protection. A well-designed estate plan passes assets to those we love in a manner that best fits the life circumstances of our intended beneficiaries. And it reduces or eliminates the associated costs, such as estate and income taxes, probate court expense, and legal fees. Our office regularly represents people throughout Northeast Ohio with regard to revocable and irrevocable trusts, wills, general durable powers of attorney, health care directives (living wills and health care powers of attorney) the federal and Ohio estate taxes ("inheritance tax" or "death tax"), income taxes, and the rules of the local probate courts, to accomplish the objectives of our clients. A thoughtful estate plan takes into account not only the expected size of our net worth upon our demise, but also considers the unique needs our beneficiaries. Could an heir be too young to receive an inheritance? Should the inheritance be phased in at certain ages? Does an heir have a disability or any special needs? Is the intended beneficiary in a difficult marriage with the possibility of a later divorce? Are their children from a prior marriage? Should we protect the inheritance from the heir's potential creditors? Are there any taxes that can be avoided? Do we wish to avoid the probate court rules, delays, and expenses? Every plan is different...every life is unique. We are committed to providing you with an estate plan so meet your specific goals. Mr. Umbaugh is an active member of Wealthcounsel, which is the premier national group of estate planning lawyers. He also regularly speaks to the general public on estate planning topics, and also teaches courses to fellow lawyers, CPA's, and financial planners. Contact Us With 35 years of continuous practice in Northeast Ohio, we are able to provide you with experienced, knowledgeable legal representation. Contact us today for the handling of your estate planning needs. To visit David's G. Umbaugh's Blog, click here From his office in Hudson, Ohio, David G. Umbaugh of Day Ketterer provides representation to clients located throughout Cuyahoga, Portage, Medina, Stark, and Summit counties, including the communities of Cleveland, Parma, Ravenna, Medina, Canton, Akron, Stow, Cuyahoga Falls, Twinsburg, Northfield, Bath, Montrose, Fairlawn, Solon, Beachwood, Brecksville, and Macedonia. David G. Umbaugh of Day Ketterer | |
| |  |
Estate planning is the process whereby families develop a plan that ensures that the assets they have worked so hard accumulating during their lifetime are protected and distributed to those they love after their death.