December 2016 Archives

When a spouse is reluctant about estate planning

Georgia couples might reach an impasse when one spouse wants to undertake estate planning and the other does not. In the absence of that spouse's cooperation, a person can still take steps to inventory assets that are held jointly and individually. Knowing what a spouse's assets are and how to access them might be important if that spouse dies and the other spouse becomes the estate's administrator.

3 basic essentials of any estate plan

Regardless of the amount of wealth and assets Georgia residents have, a well-documented estate plan allows them to declare their personal wishes at the end of life or in the event of mental and physical incapacity. Financial advisers and attorneys typically agree that estate plans need a will, a durable power of attorney and an advanced health care directive.

Estate planning to avoid a tenancy in common

People in Georgia who do not have an estate plan might have property that will pass to their beneficiaries after their death. However, problems may arise if beneficiaries have a tenancy in common. Each person who is involved in this tenancy in common has equal rights to the property. This means that they might run into direct conflict regarding their plans for the property. A conflict over a tenancy in common cannot be resolved with a majority agreement.

Considering long-term care in estate planning

Georgia baby boomers are aging and may want to begin thinking about estate planning and long-term care if they have not done so already. Many people do not plan for long-term care, and the danger here is that their children will end up paying the price. This can become expensive. One insurer found that nationwide, the median monthly cost of a nursing home private room is $7,698 and the monthly cost of a home health aid is about $3,861.

Tips for reducing taxes on parents' assets

Georgia residents who may be responsible for managing their parents' assets during their later years and after their death may want to know about the different ways taxes on the assets can be minimized. There are multiple ways to cut tax debts or defer the tax consequences.

Upcoming Workshops

3 Easy Steps To Protect Your "Stuff" This workshop addresses frequently asked questions and common misconceptions on Wills & Trusts, Asset Protection, Nursing Home Issues, and Medicaid Qualification.

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Call Us Today To Schedule A Consultation

We are ready to help you start planning. To schedule an initial consultation, call us at 770-822-2723 or 866-735-9628. You may also contact us online.

ESTATE PLANNING LAW GROUP OF GEORGIA,

Johns Creek Office
11555 Medlock Bridge Road, Suite 100
Johns Creek, GA 30097

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
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Lawrenceville Office
1755 North Brown Road, Suite 200
Lawrenceville, GA 30043

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
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