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The new year stands before us, like a chapter in a book, waiting to be written.
~Melody Beattie~
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2016 is here...
is it time to get moving? For many of us, January is a time of awareness and a time of planning for what we want to accomplish. For me, it is a time to bring back to the forefront things that I have put off. What's on your list for the new year? Is it time to create or review your estate plan? Is it time to make sure your documents and asset ownership and beneficiary designations are coordinated to ensure your wishes will be carried out smoothly? I can help you check those very important items off your list.
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How to Avoid Sending Your Assets and Loved Ones Into Probate Court
Over the years, we've discovered that many people make a BIG mistake, catapulting their assets and loved ones right into the court system. Most of our clients want to avoid probate because it has a reputation for being expensive, time consuming, stressful - and public, meaning anyone anywhere can see who got what and how to contact them. Beneficiaries may become victims to nosey neighbors, predators, and unscrupulous "charities."
Q: What's the one mistake that causes all these problems?
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Reviewing Your Trust
All trusts should be reviewed every few years to make sure that they are up-to-date with the law and meet your goals today. Following is a checklist of trust features you can review yourself. But be aware that these only refer to revocable "living" trusts, not to irrevocable trusts.
- Do you have the right successor trustees? Typically you will be the trustee of your own revocable trust with your spouse as co-trustee (if you're married). Trusts should name one or more successors in the event the original trustee or trustees are unable to serve. Make sure that you still want the successors you originally named. Also, do you want them to begin acting as trustee now? And if you and your spouse are co-trustees, do you want the successor or successors to step in when the first of you becomes incapacitated or passes away, or not until neither of you can serve?
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 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.
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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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| Contact Information |
Elizabeth Schmitz, Attorney At Law
1900 Polaris Parkway, Suite 450
Columbus, OH 43240
614-785-4980
eschmitz@eschmitzlaw.com
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