Acworth, GA Estate Planning Lawyers Simplifying the Process
When we think about planning for the future, our minds often turn to investments, retirement funds, and savings accounts, but estate planning should also be on that list. While it can be uncomfortable to think about, planning for what will happen to your assets after you are gone is necessary. A lawyer from Georgia Wills, Trusts, and Probate Firm, LLC, can walk you through everything and provide you with resources to make wise estate planning choices. Contact us today to speak to an attorney who can assist you: (770) 795-4992.
What Is Estate Planning?
Estate planning covers a range of documents that specify what will happen if you pass away or become incapacitated and can no longer make decisions for yourself. These documents, such as trusts, wills, powers of attorney, and healthcare directives, state your wishes for what you want to be done not only with your assets but also with yourself if medical choices need to be made. Having your health care wishes written out takes the weight of making those challenging decisions for your loved ones. They’ll know if you wish to be put into a nursing home or if you want long-term care in the event that you are seriously injured or in a coma. An attorney who understands estate planning can also help you write out a will or set up a trust if needed, so you can feel confident that the transfer of your estate will be as easy and affordable as possible for your family.
Do You Need Estate Planning?
When some people hear the word “estate,” they think of a mansion or large area of land belonging to a wealthy person, but in legal terms, an estate is simply everything you own. If you have a bank account, home, car, investments, or personal items, then you have an estate and could benefit from estate planning. While many people assume that estate planning is only necessary if you are rich, it can actually be most crucial for families of modest means. For these families, the loss of a loved one and possibly their income, plus the court fees and the delays caused by a lengthy probate process, can result in a financial emergency. It’s important to make a solid plan to protect your loved one’s future, even if you are still young. There are also benefits to estate planning for those who don’t have a family: you can make your health care instructions known in case you are seriously injured or disabled, you can be certain your assets are distributed properly and you could even set up a fund to ensure the care of your beloved pets if something unexpected were to happen to you.
What Qualities Does a Good Estate Planning Lawyer Possess?
When hiring a lawyer to help you create an estate plan, it’s important to feel comfortable with your choice. Your attorney should have experience in estate planning and be willing to listen to your needs and goals, so they can create a plan that is tailored to you. An attorney who also understands family law or business law can be helpful if you have a complicated family situation or want to pass a family business on to the next generation. A law firm that will build a long-term relationship with you is key because a well-thought-out estate plan requires reevaluation with every major life event. These events can include the birth of a child, marriage, divorce, purchasing a new home, and more. A good attorney keeps in contact with clients after their initial services so they can continue to update their plans as needed.
Can You Print Estate Planning Forms Off the Internet or Should You Hire a Lawyer?
Many websites offer DIY estate planning forms, but they cannot tell you if that form is appropriate for your financial situation or the state you live in. Unless you are well versed in the ever-changing state and federal tax codes, your loved ones may end up paying a large amount of taxes on your estate. An estate planning lawyer has knowledge of the specific tax laws in your state and understands what documents are required to achieve your goals. An attorney from Georgia Wills, Trusts, and Probate Firm, LLC can provide you with the proper resources and advice to make estate planning almost as simple as printing a form, but with the reassurance that you have someone with deep knowledge of the law on your side. Call us today for an estate planning strategy session: (770) 795-4992.