We offer legal services in the following areas:
	Estate Planning
	Probate and Trust Administration
	Real Estate
	Small Business

Estate Planning

Estate planning is the process in which the clients and the attorney discover the particular needs and goals that the clients have with respect to the lifetime management of their assets and the distribution of their estates to their family and loved ones after their deaths, and then create a customized plan that is designed to meet those needs and goals. Throughout the process, the clients teach us about themselves and their loved ones, we teach the clients about the laws that will have an impact on their planning goals, and together we design a plan that will work for them.

Many people believe that a Will is all that is needed for an effective estate plan. However, a Will-based estate plan has many limitations and often is not enough to meet a client’s needs. In many cases, we will work with our clients to design and create a Living Trust estate plan.

A Living Trust is a legal document that can be used to allow clients to maintain control of their assets during their lifetimes, even if they become incapacitated and cannot manage their own financial affairs. In addition, a Living Trust allows clients to control the manner in which their assets will be distributed to their loved ones after their deaths, taking into account the individual strengths and skills of each beneficiary, as well as the challenges that each one may face. Finally, a Living Trust estate plan allows for an efficient administration of a client’s estate, saving the client’s family as much as possible in professional fees, court costs, and taxes.

Please read our Articles on Estate Planning topics to learn more about the issues that go into creating an effective estate plan.

We offer the following estate planning services:

• Revocable Living Trusts
• Special Needs Planning
• Wills
• Powers of Attorney
• Health Care Directives (Health Care Power of Attorney and Living Wills)
• Irrevocable Trusts
• Charitable Planning
• Cottage Trusts

Probate and Trust Administration

Probate is the legal process of paying a deceased person’s lawful debts and claims and transferring the ownership of the deceased person's property to his or her heirs or beneficiaries. The probate process is done through the local probate court, and is highly controlled by State law and the local Court rules. Through this process, someone is given the authority to act on behalf of the deceased person’s estate, takes control of the deceased person’s assets, pays the claims and debts, and then distributes the remaining assets to the heirs or beneficiaries. If the deceased person leaves a will, the will generally appoints an Executor, who will be given the authority to act for the estate. If a person dies “intestate” (without a Will), then an Administrator will be appointed by the Probate Court to act for the estate.

Under some circumstances, property can be transferred without going through the probate process. For example, assets that are owned in joint tenancy, or that pass by beneficiary designation, such as life insurance, an annuity, or an IRA, also bypass probate. Also, property that is owned by a trust is controlled by the terms of the trust without going through the probate process.

In a trust administration, the goals are very similar as with a probate (pay the deceased person’s lawful debts and claims, and then transfer the ownership of the deceased person's property to his or her beneficiaries), but the process is handled outside of court by the Successor Trustee of the Trust. Rather than having the process controlled by local probate court rules, the process is controlled by the terms of the trust. This allows the process to be handled privately and more efficiently.

Regardless of whether a person’s estate is handled within the probate process or not, it is necessary in the estate administration process to make sure that any estate taxes (Ohio and/or federal) are paid. The estate tax is a tax on the transfer of property from a deceased person to his or her heirs or beneficiaries.

If a person becomes incompetent (incapable of handling their own property or financial affairs), it could be necessary for a guardianship to be established in the probate court. In a guardianship, the guardian is given the authority over the ward’s (the incompetent person) estate, and is given the responsibility for using the ward’s property for the care of the ward.

We offer the following services in Probate and Trust Administration Services:

• Probate Administration
• Trust Administration
• Estate Tax Returns
• Guardianships
• Adoptions

Real Estate

We offer the following services in the area of Real Estate law:

• Residential closings (purchase and/or sale)
• Commercial closings (purchase and/or sale)
• Leases
• Land Contracts
• Promissory Notes and Mortgages
  

Small Business

We offer the following services in the area of Business law:

• Initial Set Up of corporations, limited liability companies, and partnerships
• Corporate Minutes
• Buy-Sell Agreements
• Succession Planning
• Contracts and Agreements
• Purchase and Sale of businesses

Serving clients with Living Trusts, Wills, Elder Law issues, Medicaid and Veterans Planning, Probate Estates and Trust Administration, Business Law and Business Planning, and Real Estate Law in Perrysburg and Wood County, Ohio, as well as clients in Toledo, Maumee, Sylvania and all of Lucas County, and Fulton, Henry, Defiance, Sandusky and Ottawa Counties.

Protecting Those You Love and Preserving What You Have. 

Copyright 2007-2012 Law Office of Richard M. Chamberlain, Ltd. All Rights Reserved.