Estate Planning, Wills & Trusts

Why you need an estate plan

The best approach to estate planning is personal. No online form or template can truly capture your goals or translate them into a legal document the way a lawyer can. Creating a trust, will, or other estate planning document should be the farthest thing from filling in the blanks — your estate attorney should sit down with you and understand your vision for your family’s future.

Nothing is worse than having your assets tied up or whittled away in disputes after you’re gone. Unfortunately, that can happen in the probate process when no estate plan is in place. You’re never too young to start thinking about a plan when you have an estate to protect. If you’re an adult over age 18, you need a Will, financial power of attorney, and an advance healthcare directive. Remember, if it’s not done right, you can’t fix it after you pass away.

Contact Joseph Cheeley or call 770-831-7910 now to discuss the best estate planning options for you with an experienced, knowledgeable lawyer who is dedicated to your goals.

When do you need an estate planning lawyer?

Estate planning is simply putting in writing how you’d like your affairs handled if and when you become unable to make those decisions for yourself — whether because your health has declined or you’ve passed away. Nobody likes to think about that point, but planning for the possibility makes all the difference when it arrives.

You should have a legally enforceable estate plan whether you have children or not, whether you’re married or not, and whether your assets are few or many. It can save your estate money and spare your family conflict.

Wills and testamentary trusts

One of the first steps in a strong estate plan is creating a will, possibly with a testamentary trust. These critical documents — and any modifications to them — must be properly drafted and executed to be legally binding.

Your will controls how your probate estate is distributed. “Probate” includes all the property you own at the time of your death that is not otherwise claimed by contract or operation of law. When you create a will, you decide what happens to this property, which could include anything of value, such as:

If you pass away without a will, your estate is known as intestate. Essentially, your “will” becomes whatever state law says, to be distributed among your heirs.

Why should you have a will?

Without a will

• Your surviving spouse will share up to one-third of your estate with your children.
• A court will determine the choice of guardian for your children.
• Your property may be assigned to a conservator by a court while your minor children wait to get their inheritance when they turn 18.
• Any property distributed to your spouse will be distributed the way your spouse decides (or to their heirs) after they pass away.
• A court will determine your estate’s administrator based on requests by your heirs, who may not agree.
• Your heirs must petition a court to give the administrator certain powers.
• Your entire estate will be divided among your heirs, not charity.

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With a will

• You can give the entirety of your estate to your surviving spouse.
• You can nominate a guardian of your choice for your children.
• You can assign your property to trustees to handle for the sake of incapacitated adults, minor children, or other beneficiaries.
• You can make your property available to your surviving spouse during their lifetime then pass it to your children.
• You choose the personal representative to carry out your will.
• You can expedite the probate process and save your estate money.
• The executor can sell or manage your property without court permission.
• You can designate gifts for your chosen charities out of your estate.

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A testamentary trust is a trust included in a last will and testament. Unlike living trusts, testamentary trusts become active only after the probate process is completed following your death. These trusts help manage the property you set aside for your beneficiaries according to your wishes — whether for young children, relatives with disabilities, or anyone else who may inherit valuable assets.

You should also update your will after any major life change — a marriage, a divorce, a move, the birth or adoption of a child, or a significant rise or fall in wealth. An experienced estate planning attorney can help you create or modify a will so that it is executed properly, is legally enforceable, and can withstand challenges by heirs or beneficiaries.

Financial powers of attorney

A financial power of attorney in Georgia lets you designate a person (called an agent) to legally take care of your property and finances while you are living, should you ever become incapacitated and unable to do so yourself. You may need one in situations such as:

You can set a financial power of attorney to take effect on a specific date or after a certain event occurs. Working with an attorney to personalize it, you can also specify limits on what your agent can and cannot do on your behalf.

Georgia advance healthcare directives

If you ever become incapacitated and unable to speak for yourself, your loved ones may not know — or may not agree on — what your wishes would be. An advance healthcare directive is essentially a durable power of attorney for healthcare, answering questions such as:

A knowledgeable lawyer can help you fully understand potential treatment choices and their consequences. By making your wishes clear, you spare your family the anguish of having to decide what you would have wanted in your place.

The sooner you start on your estate plan, the better protected your future will be.

Contact us or call 770-831-7910 now to talk with experienced estate planning attorney Joseph Cheeley. Our talented team can help you plan your future to meet your needs and goals.If you’re an adult over age 18, you need a Will, financial power of attorney, and an advance healthcare directive. Remember, if it’s not done right, you can’t fix it after you pass away.If you’re an adult over age 18, you need a Will, financial power of attorney, and an advance healthcare directive. Remember, if it’s not done right, you can’t fix it after you pass away.If you’re an adult over age 18, you need a Will, financial power of attorney, and an advance healthcare directive. Remember, if it’s not done right, you can’t fix it after you pass away.If you’re an adult over age 18, you need a Will, financial power of attorney, and an advance healthcare directive. Remember, if it’s not done right, you can’t fix it after you pass away.