Emert Law Firm, LLC
Call for a consultation
678-926-9284

trusts Archives

Trust strategies for supporting people with special needs

Families in Georgia that include a person with special needs must consider that individual's long-term welfare and maintenance. The direct assignment of an inheritance to a person born with disabilities or who was disabled by an accident or disease could likely interfere with government benefits. Generally, someone cannot possess over $2,000 to qualify for Supplemental Security Income. Special needs trusts supply solutions to this problem.

Interest rates can affect trust decisions

When people in Georgia make plans for their assets, trusts are an important tool that can help them plan for the future while providing ongoing income and benefits. The ongoing increase in interest rates, however, could cause people to make some changes in how they determine what kind of trusts to use. For the past 10 years, low interest rates have been a constant, and now that rates are rising, planning advice about trusts can also make a change.

Protecting a business with estate planning

Estate planning can be important for everyone who wants to protect their family's future, but it can be especially so for Georgia business owners. In fact, an estate plan can help them to protect the future of their family as well as their business and those who rely on them. By dealing clearly with future plans for the business, a business owner can help to set up a framework that benefits employees, customers and other stakeholders.

About dynasty trusts

Georgia residents who have significant wealth may want to consider using a dynasty trust as part of their estate plan. A dynasty trust is unlike the majority of other types of trusts in that it does not expire. It can be opened in a select number of states.

The reasons some estate plans fail

According to a report from BMO Wealth Management, 40 percent of parents never have an estate planning conversation with their children, and fewer than one-third of adults reported knowing any details of their parents' estate plan. Only a quarter of adults said their spouses knew where they kept estate planning documents, and 40 percent of people who had lost their parents said they found the estate plan to be unfair. However, there are steps Georgia residents can take to better prepare family members.

The advantages of a corporate trustee

People in Georgia might want to use a trust in an estate plan for a number of reasons. A trust can be used to minimize taxes on assets. With a trust, a grantor can also place conditions on how assets will be distributed. This may include specifying whether distributions will take place over time or tying them to specific conditions such as milestones in the beneficiary's life. The grantor may also use the trust to state what its purpose is.

Using an estate plan to pass values on to loved ones

Georgia residents who are creating an estate plan might wonder how they can use the plan to reinforce the values about money that they want to pass down to their children. This may be part of a lifelong process to impress upon family members that what can be done with money, including helping one another and the community, is more important than the money itself.

Amending a trust to make changes

Many people in Georgia may have created a trust as part of their estate planning process. However, after the trust was created, they may want to make changes to the document and the way that their assets are handled. They may wonder how they can best change a trust to ensure that their intentions are clear, even after they have passed away.

Estate planning should be kept current

Estate planning can be a difficult task for many people in Georgia; as it involves dealing with complicated family issues and considering death, many people are happy to draw up the necessary documents and then file them away for the future, content that their family will be properly taken care of after their passing. However, due to changing laws as well as life changes, estate planning documents like wills and trusts can rapidly become outdated.

Email Us For A Response

Schedule A Free Initial Estate Planning Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

6340 Sugarloaf Parkway
Suite 200
Duluth, GA 30097

Phone: 678-926-9284
Fax: 770-932-5195
Map & Directions