Smyrna Estate Planning Lawyers Making a Difference in Clients’ Futures
As people live longer and healthier lives, they are more likely to have assets to pass on to future generations. Unfortunately, many people put off estate planning until it is too late. If you die without a will or trust in place, your assets will be distributed according to state law rather than your wishes. This can cause problems for your loved ones and may result in fighting among family members.
At Georgia Wills, Trusts, and Probate Firm, LLC, we understand the importance of estate planning. Our Smyrna estate planning lawyers have helped countless clients create comprehensive plans that protect their assets and provide for their loved ones. We are here to help you do the same.
To learn more about how we can assist you, please contact us to schedule a free consultation.
What Goes Into an Effective Estate Plan?
Estate planning is the process of creating a plan to protect your assets and provide for your loved ones after you die. It involves more than just drafting a will. A comprehensive estate plan can also include trusts, powers of attorney, advance directives (also known as living wills), and other documents.
There are many reasons why estate planning is important. One of the most important is that it gives you control over what happens to your assets when you die. If you do not have a will or trust in place, your assets will be distributed according to state law. This may not be what you want.
Estate planning can also help you protect your assets from being used to pay for long-term care. If you become incapacitated, your family members will have to use your assets to pay for your care unless you have planned ahead.
Finally, estate planning can help you avoid probate. Probate is the legal process of distributing a person’s assets after they die. It can be costly and time-consuming, and it is often subject to public scrutiny. By planning ahead, you can ensure that your assets are distributed according to your wishes without going through probate.
What Common Mistakes Do People Make When Creating an Estate Plan?
Creating an estate plan is a critical step in ensuring that your assets and loved ones are taken care of after you die. Unfortunately, many people make common mistakes that can jeopardize the effectiveness of their estate plans.
Some of the most common mistakes include:
Failing to update your estate plan regularly: As your life changes, so should your estate plan. If you get married, have children, or acquire new assets, you will need to update your estate plan to reflect these changes. Otherwise, your estate plan may not be valid.
Failing to name a guardian for minor children: If you have young children, it is important to name a guardian in your will. Otherwise, the court will decide who will raise your children if you die.
Not having a health care directive: A health care directive, also known as a living will, spells out your wishes for end-of-life medical care in the event that you are unable to make decisions for yourself. Without a health care directive, your loved ones may have to make difficult choices about your medical care without knowing what you would want.
Not having a durable power of attorney: A durable power of attorney appoints someone to handle your financial affairs if you become incapacitated and are unable to do so yourself. Without a durable power of attorney, your loved ones will have to go through the time-consuming and expensive process of getting a court-appointed guardian for you.
What Can an Estate Planning Lawyer Do for Me?
An estate planning lawyer can help you create a comprehensive plan for your estate. This includes creating trusts, drafting wills, and preparing tax documents. An estate planning lawyer can also help you create powers of attorney and advance directives. These documents designate who will make decisions on your behalf if you become incapacitated.
Estate planning lawyers can also help you resolve probate issues. Probate is the legal process of distributing a person’s assets after they die. If someone dies without a will, their assets will be distributed according to state law. This may not be what the deceased wanted. Our experienced estate planning lawyers can help ensure that your assets are distributed according to your wishes.
Contact Georgia Wills, Trusts, and Probate Firm, LLC Today!
If you have questions about estate planning or if you need to create or update your will or trust, contact Georgia Wills, Trusts, and Probate Firm, LLC today. We can help you make sure your wishes are carried out and that your loved ones are taken care of after you’re gone. Contact us today to learn more about our services and how we can help you protect your future by calling (770) 795-4992.