A will is essential

By Patricia Nugent

One of the biggest misconceptions about estate planning is that you don’t need a will unless you have a lot of money in the bank. Not true.

When it comes to your assets, if it’s worth possessing, it’s worth protecting.

We caught up with local elder law and estate planning expert Attorney Margaret T. Karl to find out more.

“A will is an essential document in estate planning,” says Margie. “Any assets a person has should be considered and accounted for so people have peace of mind about who will inherit them and when at their time of death, whether that means their heirs, or a chosen charity. It’s also important to name an executor to carry out your wishes. You have the power to put your wishes in writing so there’s no confusion about the terms in your will.”

Another misconception, she says, is married people don’t think they need a will. They believe if they pass away, their spouse will handle everything. Again, not true.

“People think that everything they share is joint, which isn’t necessarily the case,” she says. “Individual assets such as pensions need to be accounted for.”

Margie says that single people need a will, too, as a means of protecting their assets and making sure they are taken care of after they pass.

Having your will done by Margie is painless and affordable. It just takes two half-hour meetings. In the first one, she gathers the necessary information, then drafts a will for the client to review, and they come back to sign it. To make it even more convenient, she makes house calls.

Margaret T. Karl, attorney at law, is located at 25800 North Depot Street, Suite 102, in Olmsted Falls. Office hours are Monday-Friday, 9 a.m.-5 p.m. Call 440-782-5051 or visit OlmstedOhioLaw.com.