Dayton, OH (PRWEB) May 22, 2013
In response to the growing need of individuals to incorporate asset protection into their estate plans, the Dayton law firm of Holzfaster, Cecil, McKnight & Mues has recently launched a new website, http://www.LegacyTrustsOhio.com. Some of the reasons why asset protection is gaining in popularity and public awareness are the increased life expectancy and health care costs of the general public, the great amount of wealth transfer occurring, the high divorce rate and our increasingly litigious society. On March 27, 2013, Ohio’s new Legacy Trust Act became effective, permitting the creation of an Ohio domestic asset protection trust, also known as a “Legacy Trust.” Now, Ohio becomes one of the few states to allow self-settled trusts in which creditors cannot attach trust property even if the settlor is a trust beneficiary and retains some powers over the trust fund. The legacy trust is the newest tool at the estate planner’s disposal for assisting clients in protecting their assets for themselves and future generations.
Dayton Attorneys Newly Launched Asset Protection Website – http://www.LegacyTrustsOhio.com
"Although Ohio is one of 14 states that allow self-settled trusts, with the protections written into the Ohio statute, it is now arguably one of the top 2 or 3 states in the country in offering clients cutting edge domestic asset trust protection,” says Joseph E. Balmer III, a partner in the Dayton law firm of Holzfaster, Cecil, McKnight & Mues. “Hopefully, our website will help Ohioans learn about these wonderful new estate planning opportunities aimed at avoiding taxes and creating a legacy to pass to their children and grandchildren.
This new website includes valuable resources for the public to learn more about asset protection and probate avoidance in Ohio as well as a link to the Ohio Legacy Trust Protection Act.
About HCM&M: Founded in 1941, the Dayton attorneys at Holzfaster, Cecil, McKnight & Mues provide exemplary legal advice and aggressive representation to all their clients. For more information about the firm, or about Ohio Divorce, or Ohio Estate Planning, or their Dayton Attorneys, go to http://www.LegacyTrustsOhio.com or http://www.hcmmlaw.com
Users can also call 937.293.2141 or our 24-hour emergency number 937.760.4357.