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Making Plans

May 2015
As we light a path for others, we naturally light our own way.
~Mary Anne Radmacher~
 Don't Assume Your Loved Ones Know What You Want  

How often do we speak about things in a passing moment and then believe that, with those words, we created an easy to follow road map to guide the listener to success?  This can be a big trap in estate planning. When we state our preferences verbally in casual conversations, we can't assume that the listener was giving the same level of importance as we were, understands the guidance clearly, or will even remember the specifics later when the information is needed. Even more difficult is when two listeners interpret the conversation differently.  It might be wise to take a moment to discuss your wishes and get them recorded officially and in detail. This will give your loved ones the best chance to support you when you need them most.  

Decisions to Make For Your Power of Attorney

A power of attorney may seem like a simple document, but there are several important decisions that need to be made when creating one. From whom to appoint to what powers to grant, care and consideration should be put into each choice.

A power of attorney is one of the most important estate planning documents you can have. It allows a person you appoint -- your "attorney-in-fact" or agent -- to act in your place for financial or other purposes when and if you ever become incapacitated or if you can't act on your own behalf. It can permit the agent to pay your bills, make investment decisions, take planning steps, and take care of your family when you can't do so yourself.  In theory, all the power of attorney should need to say is the following:

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Three Legal Documents Every Graduating Senior Needs

It's graduation time, which means your "baby" is all grown up and preparing to head out into the real world.

 

But before your son or daughter packs up for summer vacation or even their first semester of college, I want you to think about what it means having a child who is an "adult" in the eyes of the law.

 

From a legal standpoint, I can tell you that it means you'll now need written permission to make important medical or financial decisions on his or her behalf.

Is It Time to Take Action?
Contact us and find out how easy it is to set your estate plan up. You'll sleep better at night knowing things are taken care of the way you want.
Welcome!

Elizabeth Schmitz practices estate planning, probate and elder law.  She guides families and individuals as they provide for themselves and their loved ones during all states of life.
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Elizabeth Schmitz, Attorney At Law
1900 Polaris Parkway, Suite 450
Columbus, OH 43240
614-785-4980
eschmitz@eschmitzlaw.com