About Our Practice

Wills, Trusts & Estate Planning
Do you cringe and shudder when someone asks you, “Do you have a will?” Do you know if you need will? A trust? Who will take care of your children if you and your spouse die? What happens if you become unconscious – can your spouse be denied access to assets in your name? Did the “Terry Schiavo” case leave you with many questions about “end of life” decisions and planning? Can YOU end up in a “Terry Schiavo” situation where family members are fighting over how to care for you?

“Estate Planning” involves providing answers to these questions by the preparation of some very basic documents – a will, maybe a trust, a living will and powers of attorney. These documents make sure that your wishes are known and carried out. The process of estate planning with the Phillips Law Firm, Inc. includes providing you the advice and counseling you need to protect your wishes, and your assets.

We help you understand that Estate Planning isn’t just about legal issues – it’s about personal choices, family issues and some very practical considerations such as organizing what you own, letting others know where your documents are kept or making sure your insurance policies are up to date. We will also discuss our fees for all services up front at the very first meeting.

Wills
A will generally provides a probate court, and your family, with information about who you want to inherit your “stuff,” who you want to act a “guardian” of your minor children if your spouse is unavailable and who you want to manage the “estate” process [an “Executor”]. If you do not use a “Trust” [see below] you will also need to name an adult to manage any money and property your minor children may inherit from you. This can be the same person as the personal guardian you name in your will.

If you do NOT have a will, your property will pass according to rules set out in an Ohio statute, not according to your wishes, and a judge will determine who will take care of your minor children!

All issues relating to your will be discussed during a meeting with one of our lawyers.

Trusts
There are many types of trusts used in “estate planning.” The most common is probably used to delay the receipt of an inheritance to young adults. In Ohio, without a trust, your children are provided with their share of your estate when they turn 18. Many parents understand that when life insurance and other assets are added up, the monies in their estate is more than they want their 18 year old to get in a lump sum! Trust provisions frequently allow latitude to the Trustee to provide money to the child for college, health issues or other matters, while delaying the distribution of large sums of money until the child is older. Trusts are discussed in detail with you during a meeting with one of our lawyers.

Financial Power of Attorney
A financial “power of attorney” is used to give someone else the power to do things you are could not do should you become unconscious, disabled, injured or comatose. Without a financial power of attorney, your checking accounts or other monies and assets may not be accessible to your loved ones should you end up in such a state.

Living Will and Health Care Power of Attorney
In 1991, the Ohio legislature recognized your right to prepare a “Living Will.” A Living Will states your wishes about the type of care you would want to receive if you became permanently unconscious or terminally ill and were no longer able to communicate your wishes. It only applies in these two conditions.

A Health Care Power of Attorney allows you to select someone to make health care decisions for you should be become unable to make them on your own.

Living Wills and Health Care Powers of Attorney are not just for “old people” –EVERYONE over the age of 18 should have them prepared. You can only make an effective Living Will and Health Care Power of Attorney when you are conscious and competent. After you injured, unconscious or comatose, it is too late.

Our lawyers will discuss these important documents with you as part of your Estate Planning process.

Organization of Information
The Estate Planning process is the perfect time to get your paperwork in order! This link [ ] will take you to our Confidential Estate Planning Record. You can download this word document to start your organization process. Use it to list your family members, employment information and thoughts on how you want your property to be distributed on your death. There are places to list the names and addresses of those persons you want to name in your will as Guardians of your children and other important roles. You can list all of your income sources and assets, including bank accounts, real estate, investments, IRA’s or 401K’s, stocks and bonds, insurance policies and business interests.

Preparing this document before your first meeting with one of our lawyers will help you organize your life and insure that your meeting is productive and efficient.

CALL 513-985-2500 TODAY AND SET UP A MEETING TO DISCUSS YOUR ESTATE PLANNING QUESTIONS AND NEEDS!