There are four major downsides to not having a valid will upon death.
Without a valid will setting forth who will inherit your estate, ie. your house, money, prized coin collection, etc. the property will be distributed according to Ohio law and not your wishes. Remember, if you want to be the one to decide who inherits your estate, you must have a valid will. So what makes a valid will in Ohio? In a nutshell, it must be in writing, signed at the end by you, and signed by two competent witnesses who saw you sign your will. Although it may be simple enough to execute a valid will, the content… Read the rest
An Application must be filed in Probate Court in the county where the prospective ward (the person needing the guardianship) resides. The applicant/prospective guardian must be a resident of the state of Ohio. Each county has its own set of forms for this process. However, all applications include a statement of a guardian’s willingness to perform the task and an evaluation of the ward’s mental and physical condition by a physician, psychiatrist or licensed psychologist. A bond must also be posted by the applicant/prospective guardian. In addition, the prospective ward and all next… Read the rest
Ideally, a person should execute a durable financial power of attorney and a health care power of attorney, and possible a living will as well, while the person is still competent, appointing an individual to make decisions on his behalf in financial and health care matters once the person is no longer able to do so. However, if a person does not execute financial and health care powers of attorney and becomes mentally impaired and unable to take proper care of himself or his property, then a guardianship becomes necessary. Mental impairment can be the result of mental retardation/developmental… Read the rest