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Making Plans

November 2015
Feeling gratitude and not expressing it is like wrapping a present and not giving it.
~William Arthur Ward~
With gratitude...
Thanksgiving is one of my favorite holidays. With family and friends gathered, we enjoy great conversation and delicious turkey, side dishes and desserts.  It is a time to reflect on what we are thankful for and cherish the moments spent together. 

I wanted to take a moment to wish you a Thanksgiving filled with things that make you smile and moments you will remember well beyond the day.  Happy Thanksgiving to you and yours! 
Make a Family Meeting a Successful Part of the Estate Planning Process
You've made the hard decisions, your documents are signed, and your trust is funded. Congratulations, you've finished your estate planning. But have you, really? Have you explained your planning to your family? Will they understand how your plan will work and what they may need to do if you become ill or when you die? Will they wonder why you made certain decisions?

The Key Takeaways
Having a well-run family meeting in which your plans are explained will help prevent misunderstandings and confusion in the future; this is an important benefit for executing a comprehensive plan in the first place.

Ask your estate planning attorney and financial advisor to participate. They will be able to explain how your plan works and why key decisions were made. They will be able to answer family members' questions on the spot. Also, it helps to introduce your advisory team to family members now so they will be more comfortable working together in your absence.

Open discussion is important, but having an agenda will help keep the meeting on track.

Setting the Agenda
The agenda for the meeting should cover your objectives, purposes, plans and expected outcomes. Make a list of the topics you want to cover; otherwise, if the meeting becomes emotional, you may forget something important. No specific financial information or values of assets needs to be disclosed at this time. This meeting should be a general explanation of what you have planned and why, in order to prepare family members for what they can expect and may need to do if you become disabled or die. Allow for and encourage questions and discussion.
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
  

Elizabeth S. Schmitz | 1900 Polaris Parkway | Suite 450 | Columbus | OH | 43240