The creation of a legal plan for the management and distribution of a person’s wealth and assets after passing is known as estate planning. Although there is a common misconception that an “estate” refers to the wealth of a very rich person, the reality is that an estate is simply the total amount of business interests, properties, insurance benefits, personal belongings and assets of an individual. Even people who have modest means can, and should, have an estate plan. Contact us today online or at (404) 584-5555 if you’d like to speak with an experienced Atlanta estate planning lawyer regarding your family’s unique circumstances.
Individuals and families who have not set an estate plan, are not protecting their legacy and they are also not protecting the interests of their loved ones. Unfortunately, planning for the aftermath of one’s passing is difficult for many people and it can be very uncomfortable. Nonetheless, the undertaking is necessary, especially for those who have young, underage children, aging parents, or other dependents.
When there is a lack of estate planning, a family could be left in a very challenging legal situation. When you spend your life building your assets, you owe it to your family and yourself to see these assets bequeathed in a manner that was intended.
The proficient estate planning lawyers at Atlanta Estate Attorneys are highly skilled in the field of estate administration. The experienced attorneys will explain what specific tools are beneficial to you, such as:
No family is the same, and neither should be an estate plan. It is important to tailor your family’s planning needs in order to suit your individual situation. Call (404) 584-5555 or contact us online to speak to a highly experienced estate planning lawyer at Atlanta Estate Attorneys today for an initial consultation.
Estate planning is a tool that is not only concerned with the allocation of your assets. The following are important ways in which estate planning can be beneficial for your family.
Having an Estate Plan Will Protect Your Minor Children – In the event of a serious illness or death, it is important to have a plan of how your minor children will be cared for and what resources will remain available to them. Without a plan set in place, it is likely that the courts will make these decisions on your behalf. Ultimately, the courts can decide who will be the guardian of the children if no estate plan has been left.
Taking Care of Family and Other Dependents – Providing for one’s family is perhaps the single most important reason to have an established estate plan. Even when a person has no minor children, there are other family members that may need financial support. When an estate plan is not made, it is possible that assets left behind will go to distant relatives rather than those closest to you.
Making Your Wishes Clear – Having a good estate plan will ease potential strain on your loved ones. When a good plan has been set, everyone you care for will clearly understand your intentions, thus relieving them of the need to make difficult decisions at an already challenging time. When clearly identifying your wishes, you will help your loved ones from arguing over assets when you are no longer around. Heartache, confusion, and anger can all be avoided with a well-established estate plan.
Make a Plan For the Future of Your Business – If you have a company or business, an estate plan can allow a smooth transition of the business to business partners or heirs. Having an estate plan when there are multiple business partners can be a complex matter. The estate plan will ensure that your wishes are carried out for a time in which you are no longer here to make a decision.
When done correctly, an estate plan can help to eliminate any uncertainties of the future. Estate planning can manage your assets and provide a strategy that will help preserve your life’s work. Plan for the unexpected, and consider speaking to a well-experienced law firm who can guide you through the process.
If you are ready to take a proactive step in detailing your wishes through an estate plan, seek the legal support of a law firm you can trust. The attorneys at Atlanta Estate Attorneys have many years of dedicated experience in helping clients understand what tools would work best with their unique family situation. Do not delay establishing a fortified estate plan that will help your loved ones. Contact our knowledgeable estate planning attorneys today at (404) 584-5555 or contact us online for more information on how you can protect your legacy.