Experience And Wisdom For Your Estate Planning And Elder Law Needs

Last updated on June 14, 2024

It is a misconception to think that only those with extraordinary wealth require an “estate plan” or would benefit from a trust. Believe it or not, almost everyone has an estate. Your estate consists of items like your home or other real estate, cars, financial accounts, investments, personal items, and life insurance – just to name a few. No matter how large, most of us have an estate with value, and we know that we cannot take it with us when we go.

At Georgia Legacy Law Group, LLC, one of the very few Georgia firms with a nationally certified elder law attorney, long-term care planning is a strong area of focus, complementing a full array of estate planning services. Our decades of combined experience allow us to spot potential issues in all related matters, including creating a thorough estate plan that guarantees your loved ones know, understand and follow your wishes. Speak with our attorneys about your needs.

The Importance Of Estate Planning

Estate planning is a crucial step in managing your assets and ensuring your wishes are honored. By engaging in estate planning, you protect your assets and provide for your loved ones, ensuring that they are taken care of in your absence. This process allows you to specify who will inherit your assets and when, which can prevent potential disputes among family members.

Additionally, estate planning enables you to make important health care decisions in advance. By outlining your wishes regarding medical care, you ensure that your preferences are respected even if you are unable to communicate them yourself.

Overall, estate planning is not just about distributing assets; it’s about peace of mind for you and your family. It minimizes family conflicts, secures financial stability for your loved ones, and ensures that your health care wishes are followed. Engaging in this process can relieve your family of significant burdens during difficult times.

Our Estate Planning Services

To ensure your desires are followed, you should provide instructions stating whom you want to receive your assets, what portion you want them to receive, and when they are to receive it (immediately or over time in trust).

Some of our trust and estate planning services include:

• Creating reliable estate plans, including comprehensive wills and durable powers of attorney
• Establishing proper and effective advance health care directives
• Planning for long-term care and special needs
• Developing a long-term plan for your family and for your business
• Managing your estate via trusts
• Minimizing tax burdens associated with estates

Most people want these instructions to be carried out in a cost-efficient, tax-efficient and time-efficient manner. That is estate planning: making a plan and naming whom you want to manage your estate and whom you want to receive your assets after you pass.

Frequently Asked Questions On Trust And Estate Planning

Estate planning and elder law involve various strategies and documents tailored to protect your wealth and address specific needs related to aging. Here are some common questions regarding estate planning and elder law in Georgia.

What is estate planning?

Estate planning is the process of arranging for the management and distribution of your assets upon your death or incapacitation.

It involves creating legal documents such as wills, trusts, powers of attorney and advance directives to help ensure your wishes are followed regarding the transfer of your property after your death, the care of dependents and more. Estate planning can also anticipate the need for someone to manage your health care and finances if you are incapacitated.

Why is estate planning important?

Estate planning allows you to assign beneficiaries for your assets, ensuring your loved ones are provided for according to your wishes. It also helps minimize taxes and probate costs, preserving more of your estate for your heirs.

Estate planning can also include provisions for incapacity. This enables trusted people to manage your affairs if you are unable to do so. That gives you more security for your future.

Why do I need an estate planning attorney in Georgia?

An estate planning attorney in Georgia can provide specialized expertise in state laws and regulations governing wills, trusts and probate.  They can help you identify your needs, navigate complex legal processes and draft legally sound documents.

What is elder law?

Elder laws are legal issues that affect seniors, including:

• Health care
• Long-term care
• Guardianship
• Estate planning

This addresses Medicaid planning, nursing home care and protecting assets from exploitation or abuse.

When should I hire an elder law attorney in Georgia?

You should consider hiring an elder law attorney in Georgia if you or a loved one are approaching retirement age or facing issues related to aging, such as long-term care planning or incapacity.

Early planning with an elder law attorney can also help lessen potential crises and ensure your wishes are honored after your passing. They can also protect your interests as you age.

Plan For Your Future And Legacy Today

Most people want and expect control over their assets during their lifetime, and they also want some say in how their assets are handled when they are no longer here. To achieve that goal, having certain documents in place is of critical importance. Failure to plan will leave major decisions to chance and the strictures of state law; in our experience, neither option is what most people desire. Take the initiative and call our office at 770-450-4480.