PRACTICE AREAS

Estate Planning

We make expert Estate Planning

Simple and Affordable for Ohio Families

Everyone needs an Estate Plan!

Our approach is to integrate asset protection into your estate plan in a tax efficient manner regardless of your net worth.

That’s right - everyone. Do you own a house or car, or have a bank account? Then you have an Estate. 


Estate Planning is not just for the rich - it is for everyone who wants to have a say in how their affairs are handled after they are gone. You have spent your lifetime accumulating your savings and property, so YOU should be the person who decides how it is distributed and how your affairs are handled.


The alternative to an Estate Plan already exists for you, but it isn't ideal - the government determines what happens to your family and assets because you did not have a plan of your own. This is called dying “intestate” and it is unlikely that the state’s plan aligns perfectly with your goals and wishes!


You also want to protect everything you’ve worked for to being diminished by unnecessary taxes, and subject your family to lengthy probate, where your estate is made public and left to the whims of a court.


If you own real estate, have substantial financial assets, or are blessed with a large blended family, you may have many other estate planning considerations that can protect you and your family and ensure that your wishes are met.


So who is estate planning for? It's for moms and dads, grandparents, business owners, home owners….and almost anyone else over the age of 18. 

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Our Simple Estate Planning Process

It is our goal to make this process as straightforward and clear for you as possible.

Step 1: Discuss Your Goals & Intentions

During a free initial consultation, you will tell us about you and your family, we will lay out the options for you, and provide you with a flat fee quote for your Estate Plan.

Step 2: Design a Plan

We will give you a clear checklist on all of the important considerations in your plan, including an inventory of your assets and key decisions you will want to make. These are big decisions, but our goal is to explain the options to you and make it as easy as possible.

Step 3: Drafting Your Unique Estate Plan

Based on your goals & wishes, our team will draft a comprehensive estate plan with all of the necessary documents for you and your family.

Step 4: Signing and Implementation!

We will help you review the draft documents to ensure that all of your wishes and unique details are covered. You will then sign the documents, and leave with the peace of mind that your family’s future is secure!

Components of an Estate Plan

During your initial consultation we will sit down with you, and after hearing your story and listening to your plans for your family’s future, we will recommend a custom estate plan for YOU. 

Some of the tools we may use include:

1. Will:

A Will, also known as a Last Will and Testament, is your way of ensuring that your wishes are honored when you're no longer here to express them. It's a legal document that specifies how you want your assets to be distributed after your passing. With a well-crafted Will, you can provide for your loved ones, designate guardians for your children, and even leave instructions for your funeral or memorial service. It's a crucial cornerstone of Estate Planning that offers peace of mind, knowing that your legacy will be handled as you intend.

2. Durable Power of Attorney:

A Durable Power of Attorney is a powerful legal tool that allows you to appoint a trusted individual to manage your financial affairs if you become unable to do so yourself. This designated person, known as your "agent" or "attorney-in-fact," can step in to pay bills, make financial decisions, and handle other important financial matters on your behalf. It's a critical component of your Estate Plan that ensures your financial stability and security during times of incapacity, offering you and your family much-needed peace of mind.

3. Advance Medical          Directive:

Your Advance Medical Directive, often referred to as a medical power of attorney, appoints a healthcare proxy, someone you trust to make medical decisions on your behalf if you're unable to do so. This document ensures that the person you trust most will have the authority to act on your behalf, ensuring that you have a voice when you are unable to communicate for yourself.

4. Trust (Revocable Living Trust):

A Trust, specifically a Revocable Living Trust, is a versatile estate planning tool that allows you to protect and manage your assets during your lifetime and seamlessly transfer them to your chosen beneficiaries after your passing. By placing your assets within the trust, you retain control over them while avoiding the probate process, which can be time-consuming and costly. A well-structured trust can also provide for loved ones with specific conditions, such as minors or individuals with special needs. It's a comprehensive strategy for safeguarding your legacy and ensuring a smooth transition of assets to your heirs.

5. Living Will:

A Living Will is a clear and legally binding document that outlines your healthcare preferences in the event you are ever incapacitated or face life-threatening or end-of-life medical decisions. It specifies the treatments you want or do not want, giving you control over your medical care even if you can't communicate your wishes. It offers you the assurance that your values and beliefs regarding medical treatment will be upheld, and it simplifies the decision-making process for your healthcare providers and loved ones during challenging times.

6. Beneficiary Designations:

Beneficiary designations are a vital aspect of Estate Planning, often associated with retirement accounts and life insurance policies. When you designate beneficiaries, you're essentially deciding who will receive these assets upon your passing. This straightforward step ensures that these assets bypass the probate process and go directly to your chosen recipients. Keep in mind that it's essential to review and update your beneficiary designations regularly to align with your current intentions. These designations provide a streamlined and efficient way to transfer specific assets, offering you peace of mind and minimizing potential complications for your loved ones.

Advanced Estate Planning Strategies:  We may also recommend more advanced Estate Planning strategies if you own a business, have substantial assets, a blended family, real estate holdings, or any of a long list of other situations that require more careful consideration. Some of these include:

  • Family Limited Partnership
  • Deferred Sales Trusts
  • Irrevocable Education Trusts
  • And many more

Why Estate Planning Matters

Today is the best day to start your Estate Planning process! You never know what the future will bring, but if you make your wishes clear and plan now while you are of sound mind and body, you know your family will be protected in the future. Some of the key benefits include:

Protect minor children

Estate planning allows you to designate guardians for your minor children, ensuring their well-being and upbringing by trusted individuals in case of unexpected circumstances.

Plan for future health care costs

By incorporating healthcare directives and powers of attorney into your estate plan, you can make informed decisions about your medical care and designate someone you trust to act on your behalf in medical matters, providing clarity and peace of mind.


Avoid Probate

The last thing you want is your family to deal with a complicated and stressful probate process. Tools like trusts can help your assets pass to your heirs without going through the lengthy and public probate process, ensuring a faster and more efficient distribution of your estate.

Tax Planning

You want as much of your assets to be passed on to your loved ones as possible.  Effective estate planning can minimize tax liabilities, preserving more of your assets for your loved ones and charitable causes, allowing you to leave a lasting legacy.

Determine who will care for you

Estate planning empowers you to appoint a healthcare proxy who can make medical decisions on your behalf if you become unable to do so, ensuring your preferences are honored.

Decide exactly where your money goes

Estate planning enables you to specify how your assets will be distributed among your heirs and beneficiaries, ensuring your wealth benefits the individuals and causes that matter most to you, and preventing disputes among family members.

Estate Planning FAQs

  • What is Estate Planning, and why do I need it?

    Estate Planning is the comprehensive process of organizing, managing, and distributing your assets upon your passing or during periods of incapacity. It's a vital endeavor for individuals from all walks of life, not just the wealthy. The core purpose of Estate Planning is to ensure that your wishes are honored, your assets are safeguarded, and your loved ones are provided for according to your intentions. It encompasses various legal tools and documents, such as Wills, Trusts, Advance Medical Directives, and Powers of Attorney, all designed to address different aspects of your financial, healthcare, and personal affairs.


    The importance of Estate Planning cannot be overstated. Without a well-structured plan, your assets may become entangled in a lengthy and costly probate process, potentially leading to unintended beneficiaries receiving your wealth. Moreover, without guidance on healthcare decisions, your loved ones may face uncertainty in critical medical situations. Estate Planning offers peace of mind by allowing you to take control of your legacy and ensure that your wishes are followed, minimizing stress and disputes for your family during emotionally challenging times.


  • What happens if I don't have an Estate Plan?

    When someone passes away without a valid will, it is known as dying "intestate." In this situation, called intestate succession, means that a court distributes property according to current state laws rather than using the decedent's plan - without any input from those closest to him or her. Therefore, if you pass away without an Estate Plan in place, your loved ones may face a series of challenges that can be emotionally and financially burdensome. 


    Another consequence is that your assets may become subject to probate, a lengthy and often expensive legal process. The probate process can lead to delays in asset distribution, tying up your estate for months or even years. It can also result in substantial legal fees and court costs, which can deplete the value of your estate. 


    Moreover, without a clear plan in place, there may be disputes among family members or potential beneficiaries, leading to strained relationships and additional legal battles. In essence, not having an Estate Plan can leave your loved ones in a state of uncertainty, potentially causing emotional distress and financial hardship during an already challenging time. To ensure that your assets are distributed according to your wishes, minimize the financial burden on your heirs, and maintain family harmony, it's essential to create a comprehensive Estate Plan. This plan not only provides you with peace of mind but also offers your loved ones the guidance and support they need when you're no longer there to provide it.


  • How does a Trust work, and when should I consider one?

    A Trust serves as a versatile and powerful tool in Estate Planning. It operates as a legal entity that holds and manages your assets according to your instructions. There are various types of trusts, but a common one is the Revocable Living Trust. This type of Trust allows you to maintain control over your assets during your lifetime while specifying how they should be distributed upon your passing. A Trust can help you avoid probate, which can be time-consuming and costly, and it provides privacy as the details of your assets are not part of the public record.


    You should consider establishing a Trust if you have substantial assets, complex family situations, or specific wishes for asset distribution. Trusts are particularly beneficial for individuals who want to provide for minors or beneficiaries with special needs, as they allow you to outline the terms under which these assets should be managed and disbursed. They can also be used for charitable giving or to protect your assets from potential creditors. Trusts offer flexibility, control, and the ability to streamline the transfer of assets to your loved ones, making them an essential component of a comprehensive Estate Plan.


  • Can I change my Estate Plan if my circumstances change?

    Yes, you can and should update your Estate Plan as your life circumstances change. Life events such as marriage, divorce, the birth of children or grandchildren, significant financial changes, or relocating to a new state can all warrant revisions to your plan. Estate Planning is not a one-time task; it's an ongoing process that should evolve to reflect your current wishes and needs.


    Regularly reviewing and updating your Estate Plan ensures that it remains aligned with your goals and values. Failing to make necessary adjustments could result in your assets not being distributed as you intended or crucial decisions not being carried out as desired. By staying proactive and keeping your plan current, you provide yourself and your loved ones with the assurance that your Estate Plan will effectively protect your legacy, even in the face of life's inevitable changes.


  • How can Estate Planning help reduce estate taxes?

    Estate Planning offers various strategies to minimize estate taxes, potentially saving your heirs a significant amount of money. One commonly used strategy is gifting, where you can give a certain amount of money or assets to your heirs during your lifetime without incurring gift tax. Trusts, such as Irrevocable Life Insurance Trusts (ILITs) or Qualified Personal Residence Trusts (QPRTs), can also be used to reduce the taxable value of your estate.


    Additionally, marital deductions, portability, and generation-skipping transfer tax planning can further help in mitigating estate taxes. It's important to work with an experienced Estate Planning attorney who can assess your specific situation and tailor a strategy to maximize the use of available exemptions and deductions. Properly executed, Estate Planning can minimize the financial burden on your heirs and ensure that more of your hard-earned assets are passed on to the people and causes you care about.


  • Is Estate Planning only for the wealthy?

    No, Estate Planning is not exclusive to the wealthy. While high-net-worth individuals may have more complex estate tax concerns, Estate Planning benefits everyone, regardless of their financial status. At its core, Estate Planning is about ensuring that your wishes are followed, your assets are protected, and your loved ones are provided for, no matter how much or how little you have.


    For individuals with more modest estates, Estate Planning can still be instrumental in specifying the distribution of assets, designating guardians for minor children, and making healthcare decisions in case of incapacity. Moreover, it can simplify the process for your loved ones, helping them navigate your affairs during emotionally challenging times. Regardless of your financial situation, having a well-crafted Estate Plan in place is a responsible and compassionate way to protect your legacy and provide for your family's future.


  • What happens to my minor children if I don't have an Estate Plan when I die?

    If you pass away without an Estate Plan in place, the fate of your minor children may be uncertain and subject to the court's decisions. Without your guidance, the court will appoint a guardian based on state laws and what it deems as the best interests of your children. This process can be emotionally taxing for your loved ones and may result in a guardian being chosen who may not align with your wishes or share your values.


    By having a well-thought-out Estate Plan, you can designate a guardian of your choice to care for your children in the event of your passing. This ensures that someone you trust and who understands your values and parenting style will be responsible for their upbringing. It also allows you to provide financially for your children's needs through a trust, ensuring their well-being and financial security. Estate Planning offers peace of mind by giving you control over your children's future, even when you're not there to care for them yourself.


Why choose Anthony Rinaldi & Company, LLC?

As important as Estate Planning is, choosing the right attorney is almost as important. You want someone with broad experience in the area - and that describes Anthony Rinaldi. Tony has been practicing law for more than 25 years and has guided countless families through the Estate Planning process. In addition to being an attorney, Tony is an Accredited Tax Advisor.


We know that Estate Planning can be intimidating and it might sound like a somber affair. However, you will not believe how great it will feel when you finally cross “Estate Plan” off your to-do list, so you can rest assured that your family is protected. Tony will set your mind at ease as soon as you start talking to him, and our clients find that his knowledge and ability to explain the options in simple terms makes it easy to discuss these critical matters.

Our firm is committed to making your experience with Estate Planning a personalized experience where you get an expertly crafted plan - while also making it as hassle-free for you as possible. We look forward to working with you!

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