Living Trust for Individual Who is Single, Divorced or Widow (or Widower) with No Children - Ohio 2025

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Under typical circumstances, the surviving spouse would become the sole trustee after the death of one spouse. The surviving spouse would control the shared property, and the personal property of the deceased spouse would be distributed to the beneficiaries.
A trust is always the best way to organize and dictate the disposition of your assets after death, even if you have no children. A trust allows you to transfer your property and assets after death without the need for court intervention. Trusts can be for single persons, couples with no children, and families.
Individuals may find it challenging to keep up with the constant updates and changes required, leading to potential confusion and complications down the line. Another aspect that draws complaints is the impact of transfer taxes and the need for refinancing when assets are transferred into a living trust.
10 things you need to do when your spouse dies Get legal, tax and financial advice. Make funeral arrangements. Apply for government benefits. Contact your spouses past and recent employers. File life insurance claims. Call your bank or other financial institutions.
Selecting the wrong trustee is easily the biggest blunder parents can make when setting up a trust fund. As estate planning attorneys, weve seen first-hand how this critical error undermines so many parents good intentions.
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A living trust in Ohio owns your assets during life and continues to own and distribute them after you die. The person creating a revocable trust is the grantor. As the grantor, you transfer ownership of your assets into the trust and the entire trust is then managed for your benefit during your lifetime.

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