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Cincinnati Ohio Legal Blog

Are you ready to pay for long-term care?

Without adequate information and planning, many seniors make unwise or inappropriate decisions about their long-term care. They may be afraid they cannot afford the type of care they need or worry that nursing care will drain their estates of any possible assets to leave for their children. As a result, a loved one may end up sick and declining at home or in the care of a family member who quickly becomes overwhelmed with the responsibility.

Fortunately, planning ahead can allow you to set goals and identify any issues that may raise concerns in the future. Doing so sooner instead of later may save you frustration and stress.

Things to consider when drafting employment contracts

If you own an Ohio business, you understand the importance of ensuring you have all the legal protection you need. The time to protect your interests is not when a problem arises, but well before that point. One of the ways you can do this is by drafting strong and enforceable employment contracts.

Employment contracts are beneficial both for you and the men and women you employ. These outline the expectations that both parties should have, as well as explain duties and responsibilities. These are useful agreements in any type of job or industry, and you would be wise to consider how these contracts could benefit you. Before you draft an agreement, however, there are important factors to take into consideration.

Did you remember to include digital assets in your estate plan?

Most people in Ohio and around the world conduct at least a portion of their lives online. Even if you are of an older age, you may have decided to give social media a try or attempt to make banking transactions online. After you got used to how the online world works, you may have felt right at home while visiting your favorite websites.

What you may not have realized, however, is that by using online sites, forums and portals, you created digital assets. While you may not think much about these assets because you cannot hold them in your hands, they still have importance, and you may need to account for them in your estate plan.

Understanding the probate process

The hallmark of the probate process is waiting. For some fortunate families, the waiting may only seem long, but the process is over in a matter of months. Not every family is so lucky.

It is true that fewer than half of residents in Ohio and across the country make an estate plan that includes provisions for streamlining or even bypassing probate. You may be among those who face an uncertain probate. It may help you to understand the process and what is happening while you wait.

Not all non-competes are created equal

As one of the many successful business owners in Ohio, you know that it takes a lot to protect your company. One way you may wish to do that is with non-compete agreements. The problem with non-competes is that they are not all created equal.

If you think you can Google non-competes and just download a standard form, well, you're right. You most certainly can. This does not mean that doing so would be a wise decision, however. A lot goes into creating a strong and valid non-compete. A standard form will not provide the protection you really need, and it may not even hold up in court.

You can take action to limit power of attorney abuse

Putting someone in charge of any type of situation can be intimidating. You certainly want to choose the right person for the job and ensure that he or she also feels comfortable taking on the role. When it comes to appointing a power of attorney agent, you may feel a bit apprehensive about giving that much responsibility to just anyone.

First of all, you certainly should not appoint "just anyone" as your agent. There is a possibility that abuse of power could occur when it comes to handling your finances. Because this person will take on the role of agent in the event of your incapacitation, you may worry about not having the ability to combat potential abuse.

DIY estate planning may leave you and your family with issues

All adults could benefit from having an estate plan. You may find yourself among the numerous individuals who think that estate planning is only for individuals with considerable wealth, but that it not the case. Whether you have a simple estate or many complex assets, you could still use an estate plan to get your affairs in order before your death.

While any plan could prove better than no plan, you may want to reconsider following do-it-yourself planning. Several options for this type of avenue may be available to you, but you may want to remember that they may not meet the specific needs of your estate. Of course, without the right information, you may not realize that you missed tools that could have proved useful to you.