You can create a will at any time, as long as you are at least 18 and mentally capable of creating one. You may be younger than 18 in very limited circumstances. If you comply with the Ohio laws regarding the proper execution of a will, your will is legally binding and effective until you revoke it or amend it. As such, there is really no reason against creating one. In fact, everyone should create a Will to avoid the application of the state’s intestacy laws. If you die without a Will, the state’s intestacy laws establish succession rules for surviving family members. For example, if you die with a surviving spouse, and your surviving spouse is not the natural parent of your children, your spouse will receive a third of your probate estate in addition to a predetermined family allowance. Your other probate assets would go to a guardian for the benefit of your children until they turn 18. At adulthood, the appointed guardian must give each child his full inheritance. The Ohio Probate Code governs the other possibilities and rules of succession and distribution if you die without a Will.
- What You Need to Know about Planning for Elder Care - March 21, 2023
- Can a Trust Be Contested? - March 16, 2023
- Ohio Medicaid Limits for 2023 - March 14, 2023