People in Georgia often put a great deal of thought into their legacy and how their assets will be distributed upon their death. Most people are aware of the importance of having a last will and testament. However, there are other estate planning tools, including trusts, that can help ensure that a person's assets go to the beneficiary of their choosing rather than to taxes.
Many parents work hard to ensure that the needs of their children are met. Over the years, they could ultimately amass a significant amount of wealth -- assets that they want to pass on to their children upon their death. However, some parents in Georgia may be concerned about their child's spouse receiving part of an inheritance in a divorce. Fortunately, there are trusts and other options that can provide protection.
An estate plan is a common way that people designate the division of their estate after their passing. However, estate taxes and government regulations may affect the inheritance your heirs receive.
The vast majority of people in Georgia worry about their family, especially about a time in which they may be unable to provide care. As a result, many people go through the estate planning process to ensure that their family members are provided for when they are no longer around to do so themselves. Because many people consider their pets to be parts of their family, some take measures, including the creation of trusts, to help protect their furry family members.
Regardless of the size of their estate, most people in Georgia want to ensure that it is divided according to their wishes. One way to ensure that this happens, while protecting the overall value of the estate, is through the creation of trusts. Some professionals argue that the case of Philip Seymour Hoffman is an example of the potential pitfalls of leaving estate distribution to a will alone.
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.
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.
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.
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
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.