Located a short drive from Columbus, OH, we pride ourselves on providing you with the quality representation that you deserve. We have been practicing Estate Planning and Litigation for Columbus residents since 2010. Additionally, with over 150 years of combined legal experience handling the estate planning and litigation needs of our clients, we are committed to providing them with the exceptional representation that they deserve. As a prospective client of ours, we would be more than happy to get you started in the right direction and devise the best plan of action for your unique needs. Whether you need legal counsel in estate litigation, you want to draft a will or trust, or you are currently dealing with the probate process, Heban, Murphree & Lewandowski, LLC, is here for you.
Quick Facts About Columbus, OH
Columbus has a diverse economy based on education, government, insurance, banking, defense, aviation, food, clothes, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. The metropolitan area is home to the Battelle Memorial Institute, the world's largest private research and development foundation; Chemical Abstracts Service, the world's largest clearinghouse of chemical information; NetJets, the world's largest fractional ownership jet aircraft fleet; and Ohio State University, one of the largest universities in the United States. As of 2018, the city has the headquarters of five corporations in the U.S. Fortune 500: American Electric Power, Cardinal Health, L Brands, Nationwide, and Big Lots, just out of the top 500.
What is a Living Will?
A living will, despite its name, isn't at all like the wills that people use to leave property at their death. A living will is a legal document that lets people state their wishes for end-of-life medical care, in case they become unable to communicate their decisions. It has little to no power after death.
When we are helping someone with their estate planning, we don’t overlook a living will. It can give invaluable guidance to family members and healthcare professionals if a person is unable to express his or her wishes.
Without a legal document expressing those wishes, family members and doctors are left to guess what a seriously ill person would prefer in terms of treatment. They may end up in painful disputes, which occasionally make it all the way to a courtroom.
What is Living Trust?
A living trust is a special kind of fund that can own someone’s stuff while they’re still living. The keyword here is living. Just like all trust funds, a living trust spells out how to distribute what’s in the trust after the original owner dies.
Almost anything can be placed into a living trust. If it has a value of any kind, it can be included. For example, not only real estate, vehicles and jewelry, but also mining rights and intellectual property can have their place in a living trust.
When a living trust is formed, the one who owns the stuff (the grantor) transfers the ownership of their assets to the trust itself. They take the deed to the investment property they own and put it in the name of the trust. From that point on, they don’t own the property anymore.