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Trusts: Dispute between Alan Thicke's children and wife

The unexpected loss of a loved one is the worst nightmare of many families in Georgia. Even in situations where the loved one has planned ahead and created trusts -- for example, to help explain their wishes in regard to the division of their estate -- confusion over the person's wishes due to perceived contradictions in legal documents can create even more stress for family members. Unfortunately, reports indicate that the oldest sons of Alan Thicke are involved in an estate dispute with Thicke's wife.

Protecting trusts in the event of a divorce

Most people in Georgia work hard to support themselves in life. Many are successful enough that they have assets to leave behind for family members after their death. However, there are many special considerations when it comes to distributing assets. For example, some people want to ensure that family members retain the asset, rather than it being divided with a spouse in the event of a divorce. Fortunately, there are some ways to protect an estate in the event a beneficiary seeks to end his or her marriage, including the creation of trusts.

Creating trusts as part of the estate planning process

Many families in Georgia choose to take measures that will allow them to ensure that the needs of their family are met even when they are no longer around. One way to do this is through the creation of trusts. Although they can be complicated to create, many people have found a revocable living trust the perfect estate planning tool.

Trusts can provide for beloved pets in Georgia

Statistics released by the Insurance Information Institute reveal that the majority of households in the United States -- approximately 65 percent -- have one pet or more. For many families, a pet is more than an animal but a beloved member of the family. Even further, some reports by the National Center for Health Research found that elderly people who cared for a pet were better able to care for themselves, sometimes preventing the need for an assisted living facility. Because of their concern for their pets, many people in Georgia want to ensure that their pets' needs are met even when they are unable to do so on their own, often prompting them to seek information on tools such as trusts

Retitling assets into trusts is an important step

For some people in Georgia, the prospect of the estate planning process can seem daunting. However, they recognize the importance of completing the task and work to create the necessary documents. For many, this may include the creation of trusts. But once a trust is created, the work still is not complete; the creator of the trust, the settlor, must ensure that the trust is properly funded.

Important facts about trusts and wills

Many people in Georgia who are considering the estate planning process receive advice from well-intentioned friends and family members. Unfortunately, unless these family members are trained and worked in the field, this advice can often be erroneous, leading people to make decisions that could ultimately harm those who work to settle an estate after his or her passing. Fully understanding the elements of an estate plan, including wills and trusts, can help ensure that a person's family does not face a difficult situation involving the estate.

Trusts play a valuable role in estate planning

Many people in Georgia have detailed plans regarding how they expect their lives to go. They plan for the future by working hard and saving for retirement. Unfortunately, the unexpected can happen at any moment, completely destroying a person's plans for the future. If the person has planned for all eventualities and created an estate plan, the burdens on his or her family may be less. Using tools such as trusts, it is even possible to avoid the lengthy, public and sometimes expensive probate process.

Trusts help parents protect children with disabilities

Regardless of the situation, parents worry about their children's future. However, this is likely especially the case for parents with a disabled child who may be unable to care for him or herself. Fortunately, parents in Georgia who want to ensure that their disabled children are cared for even if they become unable to do so can provide protections through trusts.

The role of trusts in estate planning

The estate planning process often encompasses the creation of a variety of different documents. Some professionals would argue that the two most important tools are wills and trusts. While a will can name who will provide care for children and how assets will be distributed, a trust can allow those in Georgia greater flexibility and privacy.

Creating trusts part of estate planning

There are many important things that the average person in Georgia wants to accomplish in his or her lifetime. While many of these relate to professional goals or personal relationships, some argue that one of the most important things a person can do to protect his or her family members following an unexpected tragedy is to go through the estate planning process. Parts of this process could include writing a will, establishing trusts and paying off debts.

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