Estate Planning FAQs
Q: What happens if I die without a will?
A: If you die intestate (without a will), Ohio law determines who receives your property by default.
Ø If you do not have a surviving spouse, your property will go to your children or their lineal descendants;
Ø If you have a spouse and one or more of your children or their lineal descendants are surviving, and all of your children
who survive or have lineal descendants surviving also are children of your surviving spouse, then all your property will go to
your surviving spouse;
Ø If you have a spouse and one child or your child’s lineal descendants surviving and your surviving spouse is not the
natural or adoptive parent of the your child, the first $20,000 plus 1/2 of the balance of the intestate estate will go to your
spouse and the remainder to your child or your child’s lineal descendants;
Ø If you have a spouse and more than one child or their lineal descendants surviving, the first $60,000 if your spouse is the
natural or adoptive parent of one, but not all, of the children, or the first $20,000 if your spouse is the natural or adoptive
parent of none of the children, plus 1/3 of the balance of the intestate estate to your spouse and the remainder to your
children equally, or to the lineal descendants of any deceased child;
Ø If you have no children or their lineal descendants, then your property will go to your surviving spouse;
Ø If you do not have a spouse or children or their lineal descendants, your property will go to your parents equally, or to
your surviving parent;
Ø If you have no spouse, no children or their lineal descendants, and no parent surviving, your property will go to your
brothers and sisters, whether whole or half blood, or their lineal descendants;
Ø If you have no brothers or sisters or their lineal descendants, 1/2 of your property will go to your paternal grandparents
equally, or to the survivor of them, and 1/2 will go to your maternal grandparents equally, or to the survivor of them;
Ø If you have no paternal grandparent or no maternal grandparent, 1/2 of your property will go to the lineal descendants of
the deceased grandparents; if there are no such lineal descendants, then to your surviving grandparents or their lineal
descendants; if there are no surviving grandparents or their lineal descendants, then to your next of kin;
Ø If there are no next of kin, your property will go to stepchildren or their lineal descendants;
Ø If you have no stepchildren or their lineal descendants, your property will escheat to the state.
Q: What is a revocable living trust?
A: The term "living trust" is generally used to describe a trust you can create during your lifetime and you can revoke or amend whenever you wish to do so. An "irrevocable" living trust is permanent and unchangeable and is almost exclusively done for tax purposes.
A living trust is a legal document that can be amended and revoked by the person creating the trust (the “settlor”). The settlor keeps all the benefits of the property placed into the trust. The terms of the living trust are established in a written agreement signed by the settlor and the trustee, and explain what happens to the trust property both during the settlor’s life and following his or her death. Frequently, the settlor serves as his or her own trustee during the settlor’s lifetime.
Q: What is a living will?
A: A living will is a legal document you can use to express your wishes about the use of life-sustaining treatment if you should become terminally ill or permanently unconscious. A living will:
Ø becomes effective only when you are unable to communicate your wishes and are permanently unconscious or terminally
ill;
Ø says whether or not you want life-support technology to be used or not to be used;
Ø gives doctors the authority to follow your instructions regarding the medical treatment you want under these conditions;
Ø can be changed or revoked by you at any time, but cannot be changed or revoked by anyone else;
Ø will be followed for a pregnant woman only if certain conditions apply; and
Ø specifies under what conditions you would want artificial feeding and fluids to be withheld.
Also, a living will now permits you to state your intent to make - or not to make - an anatomical gift (such as organs or tissues) upon your death.
Q: What is a health care power of attorney?
A: A health care power of attorney is the appointment of a person to whom you grant authority to make medical decisions in the event you are unable to express your preferences. Most commonly, this situation occurs either because you are unconscious or because your mental state is such that you do not have the legal capacity to make your own decisions. As with the living will, medical professionals will make the initial determination as to whether or not you have the capacity to make your own medical treatment decisions.