Estate Planning Process

The Estate Planning Process

I have developed a process for the estate planning process designed to make it easy and manageable for my clients. After you scheduling your initial meeting, you will receive a packet from my office. Included in this packet is an Estate Planning Worksheet designed to help you focus your thoughts on the planning process as well as organizing the financial and personal information needed.

There are three questions we will explore during the estate planning process.

1. Who are the People in my life I want to benefit and protect?

First and foremost an estate plan should provide protection for you and your spouse, if you are married. Other people to consider would be children, grandchildren, parents, siblings or other relatives. You may also want to consider any charities, religious institutions, colleges or universities that are important to you. Also don't forget any cherished animals.

2. What assets do I own and how will they pass when something happens to me?

Estate planning involves more than just a set of documents. A complete estate plan coordinates the ownership and distribution of your assets. For our meeting it is important to not only know the value of your assets but to also understand the ownership of these assets. Do you own assets in your name only, as a joint owner, or in a trust? Do you have business interests that need a succession plan? If you have a financial advisor I will work with him or her to obtain your asset information and after your plan is finalized I will coordinate with him or her to make sure all your goals are accomplished.

3. How would you like to provide for the important people in your life?

• Who would you want to make health care and financial decisions for you if you could no longer do so yourself?
• Who would you want to care for your minor children on a day to day basis?
• Who would you want to make investment and distribution decisions for your children or other loved ones?
• Should your loved ones receive assets without restrictions or should the assets be protected until a later date?
• Is there someone in your family with special needs for whom you need to plan?

These are just a few of the issues that we will discuss.

During the estate planning consultation we will explore these questions and we will discuss the documents involved in estate planning (wills, trusts, financial powers of attorney, health care powers of attorney, livings wills and life insurance trusts). I will explain how each of these documents can help you accomplish your goals. I will also make recommendations about the ownership of your assets and any beneficiary designations. If you wish I can help you with any necessary changes in ownership or beneficiary designations.

At all phases of this process it is very important to me that you are comfortable with your estate plan and have a full understanding of each document. I want my clients to walk away thinking that was so easy why didn't I do this earlier.

Elizabeth Schmitz, Attorney at Law

1900 Polaris Parkway
Suite 450
Columbus, OH 43240
Toll Free: 866-764-3650
Phone: 614-678-5103 | Fax: 740-657-1354
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At the office of Elizabeth Schmitz, Attorney at Law, I represent clients throughout Ohio, including those in Lewis Center, Powell, Westerville, Delaware, Worthington, Upper Arlington, Sunbury, New Albany, Johnstown, Granville, Dublin, Franklin County, Delaware County and Licking County.