The Law Office
of Matthew Matheney
About us
Attention to detail. Legal expertise. Caring demeanor.
These are the hallmarks of The Law Office of Matthew Matheney, which offers strategic planning that empowers individuals and businesses.
After more than a quarter century providing legal advice to clients ranging from individuals and business owners to national banks and Fortune 500 companies, Matthew Matheney founded his own law firm to offer more tailored, individualized service. With a focus on estate planning and business law, services include wills and trusts, business succession planning, contracts, terms and conditions, corporate formation, and purchase and sale of businesses.
Matt graduated from the College of Wooster in 1995 with a Bachelor of Arts in History and from the Cleveland-Marshall College of Law in 1998. Also, Matt served as a sergeant in the United States Marine Corps. He brings those military core values of honor, courage and commitment to his law practice.
Estate Planning
Proper estate planning gives you control over important financial and personal decisions when you die but also creates a plan for when you are incapacitated and are unable to make decisions for yourself.
Whether you are working or retired, single or married, wealthy or have limited assets, careful estate planning can benefit you. As a starting point, there are four basic documents everyone should have: durable power of attorney, health care power of attorney, living will and will. Also a trust can be a very useful part of estate planning.
Don’t let these thoughts prevent you from properly planning for the future:
Wills
Creating a Last Will and Testament outlines your wishes and gives you peace of mind.
Last Will and Testament
A will is an important legal document. In your will, you should provide instructions for the distribution of your estate upon your death and appoint a person to administer your estate.
You should review your will every few years and especially when:
- The death (or change of mind) of a beneficiary or executor
- The birth of a child
- Children reach age 18
- Marriage or divorce
- A change in your wealth
- A move to a different state
- New legislation
Trusts
A trust is a legal entity created to hold title to assets as well as manage and distribute them according to specific terms and conditions.
There are two types of trusts we create for our clients—Living Trust or Revocable Trust and Irrevocable Trusts. Living Trusts are the most common type of trusts and are an effective to way to handle estate planning needs. Irrevocable trusts, such as Medicaid planning trusts and special needs trusts are useful in specific situations as well.
Benefits of Trusts
- Avoid probate (and associated expenses)
- Isolate and transfer assets even if your will is contested
- Distribute indivisible property among beneficiaries or equalize inheritances
- Simplify the distribution of certain assets, such as property you own in a different state
- Protect assets from claims of creditors or lawsuits
- Manage assets for a beneficiary who is unable to handle financial responsibility
- Delay the transfer of ownership or possession of assets until a certain time or event
- Transfer the responsibility of managing assets or to plan for the possibility of incapacity
- Minimize or avoid income, gift and potential estate taxes
Powers of attorney | Living will
A durable power of attorney is a legal document in which you appoint the person or persons to make financial decisions for you. In this document, you must specify the powers being granted and when the document becomes effective. This document should be created by an attorney and customized to meet your needs. This comes into play if you should ever become unable to manage your financial affairs for yourself.
Health Care Power of Attorney also referred to as an Advance Health Care Directive or Medical Power of Attorney. This document appoints a person (health care agent) to make health care decisions for you if you are unable to do so. This document also serves as directions for the appointed person or to limit your health care agent’s power. Just like with the DPOA for financial, a HCPOA allows your agent to make healthcare decisions for you if you can’t make them for yourself.
A Living Will is a legal document that lets you specify what health care you want or do not want when you become terminally ill or permanently unconscious and can no longer make your wishes known. A living will is an important part of advance care planning, which involves discussing and preparing for future health care decisions in the event you can't make them.
Succession Planning
Every established business needs to prepare for successors in critical positions in their organization.
If you own a business, planning for its future is crucial. We help you create a succession plan that ensures your business thrives for generations to come.
- It is important for business owners to plan. Shareholder agreements, which include close corporation agreements and buy-sell agreements, are an important part of any strategy to plan and to avoid litigation.
- Buy-sell agreements must be reviewed and updated frequently. Purchase price mechanisms must be reviewed to ensure that compensation paid upon the death, disability or departure of a shareholder is understood and fair to all parties. Life insurance should be maintained to fund a buyout. And, to the extent that life insurance does not fully fund a buyout, the terms of payment for the balance should not cripple a business’s cash flow.
- It is not enough to simply have a close corporation agreement or buy-sell agreement in place. Shareholder agreements must be reviewed and updated frequently, especially as your company grows.
- Also, succession planning frequently involves more than the sale or transfer of the business but also determining how to replace key employees etc.
General Business Law
We partner with businesses to help them with myriad issues.
We understand that navigating the complexities of business law can be daunting. Whether you’re starting a new venture, managing an existing business or facing legal challenges, our dedicated team is here to provide expert guidance tailored to your needs.
Business Formation
Starting a business? We’ll help you choose the right structure—LLC, corporation, partnership—and guide you through the registration process, ensuring compliance with all legal requirements.
Business-to-business contracts
Written employment contracts are typically used for management level and sales employees and should be reviewed on a regular basis to ensure that they adequately address expectations, job duties, termination rights and compensation.
Employment issues
Employment litigation ranges from lawsuits alleging discrimination, retaliation, unfair labor standards, medical leave and contract disputes. While it is important to have thoughtful employment policies and procedures in place, it is also important to educate and train your managers and employees in their use. A well written, easily understood and encompassing employee handbook can prevent allegations of unfair and unlawful employment practices and minimize the impact of litigation.
Working with lenders
Business owners need to thoroughly understand their lines of credit, loan agreements, mortgages, security agreements and guarantees. In particular, the representations, warranties and covenants of your company’s loan agreements need to be accurate to avoid default. Lenders retain many rights and remedies in their agreements and a thorough understanding of those rights is important to set expectations and maintain compliance
Regulatory Compliance
Stay ahead of regulatory changes. We’ll keep you informed about laws affecting your business, helping you navigate compliance with local, state, and federal regulations.
Service Areas
Headquartered in Beachwood, we are licensed to practice anywhere in Ohio. We also can help those residents who split time between Ohio and another home in a different state for part of the year.
Please note we also can work with your tax advisor to maximize efficiency for tax purposes.
WHAT OUR CLIENTS SAY
FREQUENTLY ASKED QUESTIONS
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Do I need estate planning?
Yes, whether you are working or retired, single or married, wealthy or minimal assets, careful estate planning can benefit you, as it gives you control over important financial and personal decisions.
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At what age should you start estate planning?
You are never too young to start planning. Estate planning is not only about planning for death; it is also about planning for incapacity.
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When should you revisit your will?
You should review your will every few years. Especially when: a birth of a child, a child reaching age 18, marriage or divorce, a death (or change of mind) of a beneficiary or executor, a change in your wealth, a move to a different state.
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Do I need a written contract to do business?
While an oral contract can be enforceable, a written contract is preferrable and will help avoid future legal issues. Whether negotiating purchase and sale agreements, purchase orders, supply agreements, or leases, the terms and conditions of the agreement should be clear and unambiguous to meet both parties’ reasonable expectations.
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Do I need an operating agreement for a Limited Liability Corporation (LLC)?
Yes, while you might have the protection of the LCC for your business, if you do not have an operating agreement Ohio law will dictate how your company is run.
The LAW OFFICE OF MATTHEW MATHENEY
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Your future, our expertise.
Call us to see how we can partner with you to ensure personal and business success.
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Contact Info
Address:
4500 Chagrin Blvd #200
Beachwood, OH 44122
PHONE:
HOURS:
Monday - Friday 9:00 AM - 5:00 PM