Estate planners around the country will tell you that probate court can be a nightmare, and in some cases, they’re right. However, thanks to the estate tax threshold being set at astronomic levels and various advantageous tax laws here in our state, probate is far less of a concern to the average Ohioan. That doesn’t keep certain local planners from pushing the fear of probate on their clients in order to convince them they need a costly living trust. IT’S ALIVE A living trust is exactly what it sounds like: A trust set up while you are alive, meant to grow and change along with your estate planning goals. While this offers a certain level of convenience to those with a substantial amount of wealth, the complex nature of these trusts makes them costly and ultimately worthless for most people in the middle class until they are in the later stages of life. The cost of creating a living trust alone can be upward of several thousand dollars, and that’s just the tip of the iceberg. In order for the trust to adapt as you age, you must continually return to your estate planner to have them amend the document, paying them to do so. These trusts are also unsuited to the needs of the average middle-class family. Retirement savings funds like 401(k)s can’t go into these plans. Furthermore, most homes are owned by couples jointly with the right of survivorship, meaning your spouse will automatically be passed the rights to your home without the need to pass through probate. NIGHT OF THE LIVING TRUST
DON’T FEARTHE PROBATE
Here in Ohio, we have an expedited probate process for most household items and assets. Vehicles don’t even enter probate unless they
have a combined value of $60,000 or more, so it’s not a concern for the average Joe. If you are married or
do not count yourself among the fabulously wealthy, regard any estate planner pushing a living trust on you with suspicion.
We pride ourselves on integrity here at DuPont Wealth Solutions. We know that estate planning is as emotional as it is complex, and the last thing we would ever want to do is take advantage of your concerns for the future. We’ll continue to dispel the most egregious myths we see in this industry, but if you have any specific questions or concerns about your financial future, please reach out to us.
SUDOKU
INSIDE-OUT GRILLED HAM AND CHEESE
Want to take your grilled cheese game to the next level? This recipe calls for cheese both inside and outside the sandwich, adding a crispy crunch to the grilled cheese experience. It’s a quick, delicious weekday dinner option the whole family will love.
INGREDIENTS
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8 slices of bread (Pullman works best)
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8 ounces ham, thinly sliced
1/2 pound Swiss cheese, sliced 2 tablespoons Dijon mustard
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4 tablespoons unsalted butter, room temperature 1/2 cup freshly grated Parmesan cheese (preferably Parmigiano- Reggiano)
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1/4 cup apricot preserves
DIRECTIONS
1. Butter each slice of bread on the outsides and sprinkle with Parmesan. 2. Layer ham and cheese evenly on top of 4 slices of bread. 3. Spread apricot preserves and mustard across the other 4 slices. Press sandwiches together. 4. In a cast iron skillet or large sauté pan over medium heat, grill sandwiches until golden, about 3 minutes per side. 5. Cut in half and serve.
Inspired by Food &Wine magazine
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