Regardless of wealth or family structure, all individuals need an estate plan. A proper plan does much more than simply establish who inherits your property. A plan can carry on a legacy, arrange for someone to make important financial and medical decisions for you, and nominate a guardian for your children.
Maguire Legal Group excels at creating effective, concise, and individualized estate plans. The attorneys design the estate plan that is right for each client.
Estate planning is not a one-size-fits-all proposition. Our experienced estate planning attorneys will create a cost-effective, customized plan that is right for you.
If your estate plan is not properly drafted, it could fail to ensure that your wishes are carried out. To avoid this outcome, some attorneys create a much more complicated and expensive estate plan than their clients need.
At Maguire Legal Group, we focus on offering you the protection you need without making things unnecessarily complicated or costly. Our estate plans can include the following documents:
A will is the building block of most estate plans; it functions to distribute the assets of a deceased person, nominate an executor, and name a guardian for any minor children.
Trusts can meet a variety of needs, including passing assets outside of probate, protecting assets for minor beneficiaries, and providing succession plans for business owners. Although a trust is not necessary for most people, Maguire Legal Group can help you identify whether a trust is right for you, and if so, what type you need.
A financial power of attorney allows you to appoint an agent to manage your financial affairs. A “durable” financial power of attorney will also be effective if you are incompetent and no longer able to make decisions on your own.
A healthcare power of attorney allows you to appoint an agent to make healthcare decisions on your behalf if a physician determines that you are unable to do so. It can also permit the people you appoint to access your confidential medical records and discuss treatment plans with your doctors.
A living will states that you do not want life-sustaining medical treatment if you have a terminal medical condition or are permanently unconscious.
Many people want to avoid probate and think that they need to create an estate plan specifically for that purpose. Avoiding probate may or may not be the best plan for you. Some people want to avoid probate because the probate process is public, and they want to protect the privacy of their family. Others wish to avoid it because they believe it is costly and time-consuming. Maguire Legal Group can help you decide whether your plan should involve the probate process and help you formulate the best plan for your needs.
Business owners have many options to consider when creating an estate plan. Drafting the right succession plan for your business is critical in protecting your hard work. Our lawyers can advise business owners on establishing a succession plan that will protect the legacy of their brand for years to come.
It is never too soon to create your estate plan. If you wait, it could be too late. We invite you to contact Maguire Legal Group to schedule a consultation at no cost. Located in Tallmadge, Ohio, Maguire Legal Group serves clients in the Akron area, including Brimfield, Cuyahoga Falls, Hudson, Kent, Mogadore, Munroe Falls, and Stow.