First, make sure your spouse is on the same page.  In order to obtain a dissolution of marriage, both you and your spouse must not only agree to terminate your marriage, but also must agree to all the terms.  If you and your spouse cannot agree, then you will have to file for divorce in order to end your marriage. 

The following is a list of issues that must be settled with your spouse in order to obtain a dissolution of marriage:

1.)    Division of all your property and debts- This includes division of all real estate, bank accounts, retirement accounts, personal property, credit card debts, loans, etc.

Important Note: In a divorce proceeding, the Court would first determine which property or debts are separate and which are marital.  Only marital property and debts would then be divided among the parties, while separate property and debts would generally be awarded to the separate owner or debtor.  For more information on determining whether property or debts are separate or marital, call our office to speak to one of our attorneys. (440) 333-2503.

2.)    Spousal support- Whether or not spousal support will be paid by one spouse to the other and if so, how much and for how long.

Important Note: In a divorce proceeding, the Court would look at a number of factors to determine whether spousal support should be awarded including but not limited to the duration of the marriage, the earning abilities of the parties, standard of living established during the marriage, etc. For more information on determining what spousal support would be appropriate, if any, call our office to speak to one of our attorneys. (440) 333-2503.

3.)    Minor Children- If you and your spouse have minor children, you must determine the custody arrangement that will be put in place and whether child support will be paid by one spouse to the other and if so, how much.  

Important Note: The agreement should include who will be designate residential parent, a specific custody schedule that will be followed generally and for holidays and special occasions, provisions for decision making and responsibilities relating to health care, education, etc.  In addition, the Court requires that Child Support Guidelines are completed using the parties’ respective earnings.  Call our office to speak to one of our attorneys for guidance. (440) 333-2503.

So you are planning on getting married.  Congratulations and best wishes!  But before you say “I do” to your new spouse, please consider the following important estate planning tools.  Your future, as well as the future of your children and grandchildren, depends on it.

Prenuptial Agreement- Counter to popular opinion, prenuptial agreements are not just for the rich and they’re not just in case of divorce.  Prenuptial agreements can be used to ensure that property passes to children or other chosen heirs and not a new spouses, in the event of death, among other useful advantages.

Last Will and Testament- Without a will setting forth who will inherit on the event of your death, Ohio law dictates that your spouse will inherit much if not all of your probate property (unless a valid Prenuptial Agreement states otherwise).

Living Trust- Although Ohio law does not allow a spouse to entirely disinherit a spouse as far a probate property is concerned (without a valid Prenuptial Agreement), because a spouse cannot elect against non-probate property, you can effectively disinherit a spouse by transferring property into a Living Trust.

Keep in mind that if you haven’t yet tied the knot, a Prenuptial Agreement is your most powerful planning tool.  If you are already married and would like your inheritance to go elsewhere should you predecease your spouse, a Living Trust may be your best option.  Contact attorney Elizabeth Perla at (440) 333-2503 to discuss your pre or post marriage planning options.

An Application must be filed in Probate Court in the county where the prospective ward (the person needing the guardianship) resides.  The applicant/prospective guardian must be a resident of the state of Ohio.  Each county has its own set of forms for this process.  However, all applications include a statement of a guardian’s willingness to perform the task and an evaluation of the ward’s mental and physical condition by a physician, psychiatrist or licensed psychologist.  A bond must also be posted by the applicant/prospective guardian.  In addition, the prospective ward and all next of kin must be notified of the guardianship application and the date and time of hearing. An investigation must then be conducted by a court appointed investigator, who will interview the prospective ward and make a recommendation to the Court.  Then a formal hearing will be conducted, which the applicant/prospective guardian must attend, to determine whether the guardianship is necessary and whether the applicant/prospective guardian is appropriate.

Attorney Elizabeth Perla can help guide you through the guardianship process.  Contact her at (440) 333-2503 .

Ideally, a person should execute a durable financial power of attorney and a health care power of attorney, and possible a living will as well, while the person is still competent, appointing an individual to make decisions on his behalf in financial and health care matters once the person is no longer able to do so.  However, if a person does not execute financial and health care powers of attorney and becomes mentally impaired and unable to take proper care of himself or his property, then a guardianship becomes necessary.  Mental impairment can be the result of mental retardation/developmental disabilities, mental illness, substance abuse, dementia, or other causes.

Contact attorney Elizabeth Perla at (440) 333-2503 today to ensure your necessary estate planning documents are in order and/or to walk you through the guardianship process.

We would all like our parents to live long, healthy, independent lives.  However, the reality is that although many of our parents will live long lives, most will not be able to stay healthy and independent forever.  In fact, 70% of people over age 65 will need long term care during their lifetimes.  Unfortunately, we cannot turn the clock back for our parents, but we can help them plan for the future.   And the truth of the matter is that although planning is important for our parents, it is even more essential for us, the children, who are often left with an ailing parent and no game plan.  Here is a brief overview of how to get started:

• Gather basic information:
  • Ask for a list of all doctors, estate planning lawyers, accountants, and financial planners that your parents have used with contact information.
  • Gather copies of financial records, insurance policies and any legal documents that have been prepared for your parents including wills, trusts, and powers of attorney.
• Start asking important questions like:
  • In the event your parents’ health declines, would any children or relatives be willing and available to help? How many days and hours a week.  Would a child or relative consider moving in with the parents or having the parents move in with him/her?
  • What financial resources do your parents have to pay for care? What income will they be taking in each month through pensions, annuities, social security, etc. and what savings will be available?

• Make sure your parents have essential up-to-date estate planning documents like a Last Will and Testament, Financial Power of Attorney and Health Care Power of Attorney.
• If your parents would need nursing home care, would they have the financial resources to pay or would it quickly deplete their savings?  The average annual cost of a nursing home room in the Cleveland Metropolitan area is $73,912.50. 

Medicaid provides free long-term care as long as certain income and resource requirements are met.  However, because Medicaid’s resource limit is so low (currently $1,500) without proper planning, your parents will have to deplete all their resources before they can qualify. There are many planning opportunities available in order to not only preserve as much of your parents’ savings as possible but also to improve the financial situation of your parents’ spouse, should they need long term care.  Contact attorney Elizabeth Perla at (440) 333-2503 to discuss your parents planning options.