ESTATE PLANNING ATTORNEY · AKRON, OH
Estate Planning for Families with Young Children in Akron, OH
Spatz Law Group helps parents in Akron and across Northeast Ohio protect their kids with a plan that names guardians, safeguards their inheritance and gives you real peace of mind.
Kids inheriting everything at 18
Without a plan, money left to a minor in Ohio is usually managed under a court-supervised guardianship, with reports and court costs, and then handed over in full at 18. A trust in your plan changes that. You decide who manages the money and when your children receive it, whether that's in stages at 25, 30 and 35, or when they finish school, so it's used for their education and future the way you intended.
Life insurance that ends up in the wrong hands
Many parents name their children as beneficiaries on life insurance, thinking it's the simplest way to make sure the money reaches them. But minors can't receive the money directly. That can send the payout into the same court process described above. Naming your children's trust as the beneficiary keeps the money under the control of the person you chose, ready to pay for care, school and a stable home right away, and released to your kids on the schedule you set.
Naming who would raise your kids
Your plan names guardians to raise your children if both parents are gone, with backups in order. Without that choice in writing, Summit County Probate Court decides, and the judge has never met your family. You can also name a different person to manage the money than the one raising your kids.
How to choose a guardianBusy parents who keep putting it off
Between work, school pickups and everything else, a plan easily slips another year. The process is built for busy families. You fill out a questionnaire on your schedule, then sit down for one Estate Planning Session where everything is explained in plain English. Debra is a mom of five. She knows how full your days are, and she knows what's at stake if this keeps waiting.
Your attorney
Debra A. Spatz
Licensed in Ohio since 2008 · Ohio Supreme Court Reg. #0083356
Chicago-Kent College of Law · University of Illinois, Finance
Meet DebraBefore your first conversation
Have your life insurance policies and beneficiary forms handy, along with your first and second choices for guardians. Fill out the Estate Planning Questionnaire when you can.
★★★★★Google review
If you are looking for a local estate attorney in Bath, Ohio, Deb Spatz with Spatz Law Group is truly exceptional. I know several people who have worked with Deb, and they consistently share nothing but positive experiences. Deb takes the time to get to know you and your story, allowing her to create a plan that brings real peace of mind for you and your family. She even offers the option to record a legacy video for your loved ones, which is an incredibly meaningful and lasting gift. Do not wait until it is too late. I highly recommend calling Deb today.
Frequently Asked Questions
Do young parents really need a trust?
Often, yes. Even if you don't feel wealthy, life insurance and a home can add up to a large sum for your children. A trust lets you decide who manages it and when your kids receive it, instead of a court managing it and handing it all over at 18.
Who should be the beneficiary of our life insurance?
Usually your spouse first, and then your children's trust as the backup, rather than your children directly. Naming minors directly can send the money into a court process. Your plan will tell you exactly how to fill out each beneficiary form.
What happens to our kids' 529 college savings plan?
A 529 plan belongs to the account owner, usually a parent, not the child. If the owner dies without naming a successor owner, the account can get tied up. Most 529 plans let you name a successor owner on the account, so the savings stay on track for school. Your plan coordinates that choice with your guardian and trustee.
What if we can't agree on a guardian?
It's common. Talk through what matters most: values, location, age, energy and how your kids feel about the person. Debra can help you work through it, and you can name backups in order. Choosing someone now, even if you update it later, is better than leaving it to a court.
What documents do young parents need?
Most young families need wills naming guardians, a trust for the children's inheritance, financial and health care powers of attorney, and living wills. Your Estate Planning Session shows which pieces fit your family.
Do we have to redo our plan when we have another baby?
Not if it's written well. A good plan covers future children automatically, so a new baby is included without new documents. It's still a good moment to review guardians and beneficiaries.