Geoffrey P. Scott is a lifelong resident of Worthington and former teacher who combines his passion for education with his law practice. Geoffrey strives to educate his clients about "why" and the "how" behind the law to empower his clients to take control of their situation and make informed decisions.
Geoffrey initially limited his practice to estate planning and probate administration. He found that his estate planning clients needed help with state and federal tax issues. Thus, to better serve his clients, Geoffrey went back to law school for an additional 2 years to get his LL.M. degree in Taxation. He then expanded his practice to include business and tax to his portfolio of services.
You are ready to start your own business; what do you do? Start your business off on the right foot. Get the peace of mind that it has been organized properly so you can move forward with your business while minimzing taxes and personal liability.
You are looking to buy into a business, or bring on a partner; what do you do? Taking on a business partner is a financial marriage. Although the basis of the relationship is mutual trust, it is important to put your expectations of one another in writing. Having a buy-sell or partnership agreement in place brings peace of mind to let you focus on growing the business.
It's time to hire management employees and you have important contracts with vendors and customers; what do you do? You must protect your business' intellectual property and customer base. Non-compete and non-solcitation agreements are essential to protect those critiacal assets.
Handshake deals with vendors and customers are fine, until there is a problem. Put your understanding in writing to make sure everyone has thought the deal through and is on the same page.
You are ready to sell you business, or are ready to plan for its succession to family or key managers; what do you do? Transitioning out of the management and ownership of a business is one of the most significant financial transactions in life. You want the peace of mind that that when you walk away, you have minimzed your taxes, will get paid the sale price, and don't have to worry about future liability for comapny debts.
You have received a letter from the IRS warning you of collection activities; what do you do? Be proactive and don't ignore the letter. Don't be fooled by those promising to settle your tax debts for pennies on the dollar. The IRS is not like private creditor where you can cut a quick deal. The IRS representative's job is to get the full amount due paid. The IRS representative has no economic incentive to settle for less.
Navigating the IRS audit and appeals process is too complex for most people. You need help to orgnaize and present your position to the IRS. Get the peace of mind knowing the matter is behind you.
Estate Planning Services
You have a responsibility to your loved ones to make sure your affairs are in order; what do you do? To decide whether you need a simple will, trust or power of attoreny, you need to understand what happens to your property when you die. When you understand, you are empowered to make sound decisions and create an estate plan the communicates your personal values and reduces the burden on your loved ones.
You are worried about asset protection; what do you do? Keep it simple. Make sure you explore all of the easy solutions before jumping off into a complex asset protection scheme. If you don't understand exactly how an asset protection plan works, it probably won't when you really need it. Let us help you understand how asset protection works and what does not work.
Medicaid Planning Services
A loved one may need to go to a nursing home and you are afraid of the cost; what do you do? The fear of losing everything you saved over your lifetime is often paralyzing. You need to understand how nursing homes work and how they are paid for their services and how the Medicaid system works.
Get peace of mind knowing that you have made the right decision and are not being taken advantage of by the nursing home or the Medicaid program.
Estate Administration Services
A loved one has died and you have been appointed as executor; what do you do? Take care of yourself and your family and take the time to grieve. Nothing with the lawyer needs to be done right away. Meet with the lawyer only when you are ready, which can be 4-6 weeks after the funeral.
There is work to be done and you have a responsibility to do it. There are bills to pay and assets to distribute. You will find banks and others will not give you information unless you give them "Letters of Authority." There are tax returns to prepare and file and loose ends that must be tied up.
You will need help to meet these responsibilities and navigate the estate administration process. This is a time to ask for and receive help and not worry about what needs to be done or how to do it. Let us explain the process and work through it with you.
Many estate planning and business services can be done on a flat fee so you know how much it will cost before you enage us.
For other services, it is difficult to predict how long something will take and must therefore be billed at an hourly rate. We will discuss this in detail and set the budget in advance before we begin work.
In addition to the foregoing, below is a list of our services:
Geoffrey earned his law degree from Capital University Law School in 1997 and his LL.M. in Taxation from Capital in 2002. He received his B.S. in Social Studies Education from the Ohio State University in 1990 and is a 1986 graduate of Worthington High School.
Geoffrey has been an adjunct professor for Capital University and Franklin University where he taught business law and tax to undergraduate students. He is a frequent speaker for the Ohio Society of Certified Public Accountants where he teaches entity selection, estate planning and asset protection and federal income tax subjects.
Geoffrey is a member of the Columbus Bar Association and Worthington Estate Planning Council. He is past Chair of the Columbus Bar Association Estate and Gift Tax Committee and Worthington Educational Foundation.
Geoffrey is a member of the Worthington Prebyterian Church and was a Cub Scout Den Leader. He is an aviid camper and has traveled to most of the National Parks with his family and has restored a 1963 Austin Healey 3000. He is married, has three children, and resides in Worthington.