Maumee Ohio Legal Blog

A thorough and effective estate plan may encompass one or more of a number of legal documents. Wills, trusts and powers of attorney can all play a pivotal role in the protection of an estate's value and the distribution of its assets. Although a well thought out estate plan can be ironclad, even seemingly minor errors can have tremendously large ramifications. This is why it is often wise to have the assistance of a skilled estate planning attorney when dealing with these matters.

For example, an improperly executed will may be deemed invalid. This can leave the distribution of estate assets subject to state laws, which may be contradictory to an individual's wishes. It can also set the stage for family contention and litigation that is drawn-out and costly. An attorney will know the common pitfalls related to the drafting and execution of a will, though, and how to avoid them.

Losing a case is never easy, especially when significant financial and emotional resources are on the line. Those who lose at trial often feel like the extensive amount of time they put into the case was for naught, which leaves them angry and frustrated. Yet, losing a case at the trail court level is not the end of the road. This is because those who lose a lawsuit have a legal right to appeal the decision made by the trial court or a jury at the trial court level. However, it is important to note that an appeal is not another bite at the apple. Instead, an appeal allows a party to have the trial reevaluated to ensure that a fair outcome is reached.

How is this accomplished? It begins by reviewing the transcript of the trial. Everything said during the trial is recorded, and every exhibit admitted into evidence is forwarded to the court of appeals. Therefore, litigants need to be careful and detailed in everything that they say in court. Objections must be made in a timely fashion, and responses to those objections need to hold up to appellate scrutiny. Those who don't make a good record at trial can find themselves at a severe disadvantage on appeal.

Successful contract negotiation takes a lot of foresight. The terms of these agreements can have long-term consequences that can define business relationship for years or even decades. But while thoroughly negotiating and carefully drafting the terms of a contract is important, equally crucial is the enforcement of those terms. After all, a party that doesn't take action in the event of a breached contract is left with no recourse. This means that it will essentially be taken advantage of without punishment for the financial harm it is causing to the other party.

To see just how important the policing of contract terms can be, just look at recent legal action taken by Panera Bread and three of its former employees. According to the legal action, which was just released for being filed in the improper venue, the employees breached non-compete agreements when they were offered jobs by a company headed up by former Panera CEO Ron Shaich.

Life requires us to do many things, as it encompasses much. Estate planning can touch on many parts of an individual's life. It can dictate who will make important financial and health care decisions in the event of an individual's incapacitation, and it, of course, can layout how assets will be distributed upon death. Those assets typically include a family home, bank accounts, retirement accounts and family heirlooms. Yet, as our world becomes more and more digitized, Ohio residents should ensure they don't neglect their digital assets when engaging in estate planning.

Cryptocurrency is one of the biggest and most important parts of a digital estate. This form of currency is becoming increasingly popular, but its value can oscillate significantly over time. For this reason alone, cryptocurrency owners need to make sure to not only be clear in their estate plan about their ownership of cryptocurrency, but also about how it should be distributed and when and how it can be used.