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Estate Planning for Non-Traditional Families

Long gone are the days when most families looked the same: mom, dad, and kids who are the biological children of both adults. This nuclear family still exists, of course, but there are so many other forms of family: families with same sex parents; un… Read More

Using Legacy Trusts for Prenuptial Planning

About half of marriages end in divorce, and second marriages are more likely to end in divorce than first marriages. What this means is that approximately half of all families are confronted with a situation in which assets need to be divided between… Read More

What is a Secret Trust?

People create trusts for a variety of reasons: to remove assets from their probate estate; to reduce the size of their taxable estate; to provide for loved ones; and to protect those loved ones’ assets from waste. Often, which goal takes priori… Read More

What is a STABLE Account for Disabled Beneficiaries?

If you have a loved one with a disability, you are aware of the unique financial issues that go along with planning for the well-being of someone with special needs. On one hand, many people with special needs or a disability are unable to become sel… Read More

The Ohio Small Business Deduction

Many Ohio taxpayers each year fail to take advantage of a tax deduction that could save them thousands of dollars. Some may not be aware that they qualify for the deduction. Some who are aware of it may think the filing requirements are too cumbersom… Read More

Estate Planning When Your Beneficiary is an Addict

Estate planning should always take into account not only the wealth to be transferred from one generation to another, but the unique issues of each family for whom a plan is being created. Unfortunately, those issues may increasingly include the dile… Read More

What You Need to Know About Tax Deductions for Donating Art and Personal Property

If you are a lover of art or other fine collectibles, you probably want your collections to go to someone who will appreciate them as you do. You may also want to use your valuable collections to benefit a charitable organization that is important to… Read More

Medicaid Treatment of Retirement Plans

As you are no doubt aware, nursing home costs in Ohio are high, and continue to rise. Even those families that have saved diligently for retirement often cannot afford to pay for an extended stay in a nursing home or long-term care facility. You may… Read More

Why Do I Need an Estate Plan if My Estate isn't Taxable?

Historically, one of the reasons for creating an estate plan was to avoid one’s heirs being saddled with burdensome estate tax. For those whose estates are subject to estate tax, this is still an important motivator for estate planning. However… Read More

Understanding the Qualified Business Income Deduction

The Tax Cuts and Jobs Act (TCJA) has made some significant changes to the Tax Code, one of which is the implementation of the qualified business income (QBI) deduction. This deduction is found in Section 199A of the Tax Code. Although one goal of the… Read More

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