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Common Estate Planning Mistakes

The most common way to transfer assets to your heirs is also the messiest: to have a will that is so out of date that it doesn’t relate to your property or estate, to have your records scattered all over the place, to have social media, banking and email accounts whose passwords only you can find—and basically to leave a big mess for others to clean up.   Is there a better way?   Recently, a group of estate planning experts were asked for their advice on a better process to handle the transfer of assets at your death, and to articulate common mistakes.   The list of mistakes included the following:   Not regularly reviewing documents.   What might have been a solid plan 15 or 20 years ago may not relate to your estate today.   The experts recommended a full review every three to five years, to ensure that trustees, executors, guardians, beneficiaries and healthcare agents are all up-to-date.   You might also consider creating a master document which lists all your social m

Major Changes in Northeast Ohio Health Insurance Marketplace & Open Enrollment

The Affordable Care Act -- aka Obamacare -- has become an important program for many retirees who need health insurance to bridge the gap from when employer coverage exhausts until eligible for Medicare at age 65. For those utilizing these plans and especially those that use Medical Mutual of Ohio for their insurance, it's time to review your options during the open enrollment season. As reported earlier this year, in partnership with New York City-based Oscar Health , Cleveland Clinic announced it is making its first entrance into the health insurance market with a product bearing its name. The co-branded health insurance plan will be available in Cuyahoga, Summit, Lorain, Medina and Lake with coverage beginning Jan. 1, 2018. The Clinic also will not be participating in Medical Mutual of Ohio's (MMO) -- a large insurer of northeast Ohioans and headquartered in Cleveland -- individual ACA products in 2018, as Crain's Cleveland Business  first reported. MMO switched to