How many seniors in Toledo and the state as a whole are participating in estate planning?
Americans are likely to understand the value of estate planning in a theoretical sense but relatively unlikely to participate in it themselves, creating an interesting juxtaposition between what they know and do. The following IRS statistics reveal how many Ohio residents have filed some sort of trust:
These raw numbers are higher than most other states, but Ohio also has a larger population than many other states. As such, far too many people are failing to make their wishes known. The best thing you can do if your loved one is among them is to set them up with an estate planning lawyer in Toledo.
What are the reasons a senior in Toledo might leave an inheritance for their family?
No two seniors are alike and many cite different reasons for working with an estate planning attorney in Toledo. There is no such thing as a bad reason to get your affairs in order, so whatever reasons your older adult has should be encouraged. Here are a few of the most common:
As you can see, many seniors are motivated not by the financial value they are leaving their heirs but by the psychological benefits that leaving an inheritance provides. This is why your loved one should work with a Toledo estate planning attorney even if they don’t have the biggest nest egg in the world.
How to choose the best estate planning attorney in Toledo
Locating estate planning services in Toledo is easy enough, but finding the best fit for your loved one’s unique situation can take a little work. First, verify that any prospective lawyer is licensed to practice law in Ohio. Next, consider what types of assets your senior owns and ensure that their potential attorney has experience working with them. For example, stocks and bonds require different expertise than a large pile of cash underneath a mattress. You should also consider whether your loved one will get along with a promising candidate as this will be a long-term professional relationship. Cost is worth thinking about as well as you don’t want your loved one to have an outdated will because they couldn’t afford to make adjustments.
Our comprehensive guide to choosing an estate planning attorney includes additional tips and tricks to help you choose a great candidate, so please bookmark it for future reference.
Estate planning solutions for Toledo seniors
Thinking about end-of-life care and how a beloved senior’s material assets will ultimately be distributed is hard, and anyone who says otherwise is lying. Still, working with a Toledo estate planning attorney can ensure that your older adult controls their legacy and can make a contribution to the people and causes that mattered most to them in life. Seasons makes it easy to begin researching the top estate planning lawyers in the area, so please make good use of them. Your loved one will thank you for your concern.