The term “Estate Planning” confuses a lot of people because of the complications. However, it becomes very simple when you have the right information. The estate includes everything from the car, bank accounts, home, investments, life insurance, and other personal belongings. Estate planning becomes more essential as you won’t be there to manage it later after death. Whether your estate is big or small, relying on the trust and estate planning attorney is the right move.
Estate planning also includes that everything is done as per your wish after death. You can have the legal protection of property rights and who is going to receive them. However, the process can be expensive or critical for common people, and that’s when you need to hire estate planning advisors or professionals. That’s when you need to choose the estate planning firm for legal assistance on assets, taxes, and finance management. The process involves deciding the nominee or title holder of the asset if you’re unable to take care on your own. It will also address future requirements to ensure proper management.
An Estate Planning Attorney in Marietta, GA, specializes in assisting individuals and families in creating legal arrangements for the management and distribution of their assets after death. Estate Planning Attorney Marietta, GA, can help clients draft wills, establish trusts, and plan for incapacity through powers of attorney and advance directives. They also offer guidance on minimizing estate taxes and ensuring that assets are distributed according to their clients’ wishes. If you need assistance with estate planning in Marietta, GA, contact Estate Planning Attorney Marietta, GA, to find out more about how they can help you protect your assets and provide for your loved ones.
Simple Steps For Trust & Estate Planning
1. Make a Will
You can create a will defining who will inherit the property after death. The estate planning firm will help in clarifying the exact things covered in the will. Name a guardian to provide care to small children, if there are any. The caretaker can take care of the young children till they reach a certain age of maturity. Discuss your expectations about the will and estate with a consultant to make the most out of it.
2. Consider a Trust
Your survivors don’t have to visit the probate court if there is a living trust to hold properties. Dealing with the court and legal matters can be a highly expensive and time-consuming process. However, not all estate advisors can handle it effectively, that’s when you need to rely on epic financial consulting firms.
3. Take Care Of Health Care Directives
You can create a wish for healthcare to deal with future concerns when you’re unable to make medical decisions for yourself. Such directives include a “living will” along with the power of attorney health care. It will give enough power to someone of your trust to make healthcare decisions on your behalf. In certain cases, the advanced health care directive combines all sets of relative documents.
4. Make Power Of Attorney
The trust and estate planning attorney can help with financial management if you are incapacitated. The power of attorney will be a trusted person with sufficient authority in handling the affairs. Since the person won’t be able to take care of their finances, he must name someone to do it for them. The attorney can bring efficient durability in estate and monetary management.
5. Understand Estate Taxes
With estate planning, we don’t need to owe the federal or any other taxes. The government will only impose taxes on the death if the estate is more than a certain parameter. The tax exemption will also depend on the current inflation or market positions. The married spouses can also transfer some estate to their spouse and remain tax-free. Choose epic services for tax-free exemption for spouses regarding charity.
6. Protect Your Business & Documents
If you’re the only owner of the business, having a plan for successors is a must. You will also need to safeguard the business and documents with complete security. Hire epic advisors to get the desired buyout agreement for property security and administration. The assigned person will be having the responsibility to choose the documents for security. It includes a will, trusts, real estate, insurance policies, and more.
7. Secure Your Children’s Property
If your children are younger, name an adult to handle property and monetary concerns. It will include all sets of properties that your child might inherit from you. Simply put, this concerned person will be the same as the personal guardian in the will. Choose epic financial consulting for safeguarding the children’s property without any hassle.
8. Cover Funeral Expenses
Your estate planning and future concerns should cover the funeral expenses. A lot of people even go for the funeral prepayment plan, but that’s not reliable in all concerns. Instead, opt for creating a payable-on-death account and keep collecting funds for funerals and additional expenses.
9. Consider Life Insurance
No matter what the scenario, life insurance is one of the major considerations in estate planning. Regardless of whether having young children, a house, debts, taxes, or life insurance is a worthy choice after your death. Book your consultation with the estate planning firm for finding the best life insurance plans and policies.
Final Comments
Hopefully, the above tips on estate planning and management help you to make the right decision. Having a proper estate plan comes in handy and provides peace of mind for future problems. Hire epic services for a quick consultation for the betterment of yourself and your family members.