I provide custom-tailored estate plans for individuals and families in Ohio and Michigan so that they can have the peace of mind that their loved ones will be taken care of when they are gone.
Whether you are trying to set up an estate plan for your young family should the worst happen, protect assets from potential creditors, avoid probate costs, seeking to reduce taxes, attempting to protect a child with a disability or seeking to provide for a charitable cause, an estate plan may be the legal tool you need to accomplish your objectives.
A carefully crafted estate plan can have significant financial advantages, protect loved ones from confusion, and help protect and transfer assets more efficiently and effectively.
I can do the following for you and your family:
- Draft Standard Wills, Testamentary Wills, and Pour-Over Wills
- Provide Living Wills, Healthcare Directives, and Powers of Attorney
- Create Trusts, such as: Revocable Living Trusts, Joint Marital Trusts, A/B Trusts, Irrevocable Inter-vivos Trusts, and Testamentary Trusts
- Protect assets with Ohio Domestic Asset Protection Trusts
- Coordinate and Draft Tax-Based Trusts, such as: Irrevocable Life Insurance Trust, Lifetime Gift Trust, Grantor Retained Annuity Trusts, Charitable Lead Trusts, and Trusts for Pets
- Assemble documents supporting all of these services
Family Estate Plan Package
You spend most of your life caring for and supporting your family. Ensuring that loved ones are taken care of after your death should be no different. Crafting a detailed and thorough estate plan is the first step in continuing to provide for your relatives after you’re gone. While some choose to create these documents on their own, the process can be extremely complicated and developing an estate plan that will function according to your desires is not an easy task.
The most important step in crafting your estate plan is understanding what each document means and how it will affect you and your loved ones. The following documents are included in the Family Estate Plan I offer for a flat fee of $2,500:
- Pour-Over Last Will & Testament – Identifies where your assets go once you have passed away. Answers these questions: What happens to your assets when you die? Who is the executor of your estate? Who will be the legal guardians for your minor children?
- Customized Revocable Living Trust – During life, the creator of a Revocable Living Trust (the “settlor”), can change the distribution plan. Upon the death of the settlor (or both grantors if there is more than one) the Trust then becomes irrevocable and cannot be changed.
- Instructions for Titling Assets – Identifies how to title assets, like insurance policies and retirement accounts so that they are distributed in accordance with your wishes.
- Authorization for Use and Disclosure of Protected Health Information – HIPPA waiver.
- Advance Directive – Living Will – Legal document giving instructions to your family, your doctors, and your health care agent concerning the end of your life. You can indicate your desire concerning artificial life support, treatment or the termination of treatment. The document indicates your decision on do not resuscitate orders, the removal of feeding tubes, and the removal of hydration.
- Durable General Power of Attorney – Identifies person(s) you name to handle legal and financial matters for you if you cannot because of a mental or physical disability. They stand in your shoes having the ability to pay your bills, collect assets, sell assets, manage investment assets, file tax returns, and the like.
- Health Care Power of Attorney – This power of attorney is for medical and health related decisions. You name an agent who will have the power to: give and receive medical information; hire and fire health care workers; select nursing homes; and give informed consent to treat or to operate. You may also give the agent the power to remove life support including feeding tubes and hydration at the end of your life.
- Bill of Sale – Document that transfers title to tangible personal property into the trust.
- Affidavit of Trustee – Document that successor trustee can provide declaring that settlor has passed away.
- Certificate of Trust – Document that the trustee may sent to a person other than a beneficiary instead of a copy of the trust document itself.
- Transfer on Death Affidavit – Document that transfers ownership of your Ohio home to the Trust upon your death (plus filing fee).
- USB Drive – Flash drive containing digital copies of all executed document so you can securely store and transmit them.
Asset Protection Package
Those looking to aggressively protect their assets while still benefiting from them have a realistic option under the Ohio Legacy Trust Act (the “OLTA”). The OLTA permits an individual to create and fund an asset protection trust (a “Legacy Trust”) that will protect his or her assets from the claims of his or her own creditors.
Under the OLTA:
- Creditors have a shortened period of time to make claims against the Legacy Trust
- The person setting up the Legacy Trust can be beneficiary of it
- While the person setting up the Legacy Trust can’t be the trustee he or she does other significant rights
- The burden of proof on anyone trying to attack assets in a Legacy Trust is on the creditors
- Assets in a Legacy Trust aren’t protected from child support or alimony from marriages established prior to the trust
The most attractive aspect of the OLTA is the strict time frames placed on creditors to file claims. And although the person who creates trust (the “transferor”) cannot serve as trustee, they are granted other significant rights under the OLTA. As a transferor, one can:
- change the trustee,
- veto distributions from the trust,
- withdraw up to 5% of assets annually,
- direct that Trust assets be distributed to anyone other than the transferor or the transferor’s creditors, estate, or creditors of the transferor’s estate,
- live in residences given to the trust, and
- advise on investments of the trust’s assets.
I offer the following asset protection estate plan at a flat fee of $4,950:
- Legacy Trust – This type of trust provides a very high level of asset protection. In a Grantor Incomplete Limited Trust, also known as a Legacy Trust, you, as the Grantor, would be a beneficiary of the trust and your spouse (or another designated individual or entity) would be the trustee. In order to gain the desired asset protection from a Legacy Trust, you may not serve as your own trustee. Despite this, you still retain significant rights in a Legacy Trust such as the ability to: change the trustee, veto distributions from the trust, withdraw up to 5% of assets annually, live in residences given to the trust, advise on investments of the trust’s assets, and direct Trust assets be distributed to anyone other than the transferor or the transferor’s creditors, estate, or creditors of the transferor’s estate. A Grantor Incomplete Limited Trust is attractive for a variety of other reasons as well:
- Creditors have a shortened period of time to make claims against the Legacy Trust;
- You can designate a Revocable Trust as a Beneficiary;
- You can be a beneficiary of the Trust; and
- The burden of proof on anyone trying to attack assets in a Legacy Trust is on the creditors.
- Notice of Transfer of Personal Property – This document transfers the personal property you want to put into the trust to your Trustee.
- Affidavit of Solvency – This is a document you will need to sign that certifies the following:
- The assets are not the product of illegal activity;
- You have the full right to transfer the assets;
- You will not be insolvent after transferring the assets;
- There is no intention to defraud creditors;
- There are no pending court actions against you;
- You are not involved in any administrative proceeding (other than opinions on investments); and
- You do not foresee filing for bankruptcy.
What Clients Say About My Estate Plans:
“Samir and his team were easy to work with, accessible, professional, and knowledgeable, giving us piece of mind in our work being completed. I appreciated a fixed fee arrangement and knowing up front the cost of my engagement, rather than worrying about the time to be billed. I’d highly recommend to my friends and family.”
– Michael P.
“Inquired about an Estate Plan for my family. No pressure approach – worked through all of the options beforehand and all for a set price. Very thorough, patient and easy to work with – also completed within deadline set by us. Will work with Mr. Dahman for all future legal matters!”
– Brian T.
“Highly recommend Samir & his team for anyone/everyone who is looking to put together a family estate plan. Extremely easy to work with and doesn’t mind if you have to bring your little one(s) in the office. Very knowledgeable and thoughtful. Made sure our needs were met and got us from start to finish seamlessly.”
– Eric L.
“Couldn’t be more pleased with the experience. We set up a complete estate planning package. Very professional, easy to understand, and the whole process was very easy to complete.”
– William M.