Legal Question in Wills and Trusts in Ohio

I do not advise adding your niece as a joint owner. It only opens up your assets to her creditors. If your main goal of estate planning was to avoid probate, then what you have done by designating TOD is fine. However, if you have other goals such as avoiding guardianship, establishing how you would like your personal and financial matters handled in the case of incapacity, or being able to make changes to your plan during your lifetime, then you have not met those goals, and a trust can give you that. A trust give you the most flexibilty and the best options to accomplish your estate planning goals but may it not be for you. It is important for you to establish what your exact goals are that you would like to accomplish and then discuss it with an experienced estate planning attorney.

If you need further assistance or information, please contact my office at: http://www.socrateslegal.com .