An estate plan is a legal strategy that specifies how your assets (money, property, and other “stuff” that you own), healthcare preferences, and final wishes will be managed both during your lifetime and after your passing. It usually consists of a collection of documents you’ve probably heard of, like a will, trust, powers of attorney, and living will.
The timeline for getting your estate plan sorted depends on its complexity. If it’s a simple plan, you’re looking at just a few weeks. But if it’s more complex, it might take a few months.
Fees vary based on your specific needs and the complexity of your estate. Simple plans can cost as little as a few hundred dollars, while more complex plans may run into several thousand dollars. Both flat fee and hourly rate options are available, and installment plans are also available.
An estate plan is not required under Ohio law. If you don’t have one, Ohio’s intestacy laws will dictate how your assets are distributed after your death. This may not align with your preferences, and it can lead to complications for your family.
