July 2017 Archives

New law makes it easier for disabled individuals to create SNTs

Individuals who live in Georgia might know about a federal law that was passed earlier this year called the 21st Century Cures Act. The act was signed into law by President Obama toward the end of 2016. The law allows individuals with disabilities to create their own special needs trusts (SNTs).

Business owners overlooking estate planning basics

Many Georgia business owners require steady cash flow to support their other investments and family. Much effort is put into establishing a solid business and growing the many relationships it relies upon, yet many Johns Creek owners fail to protect those efforts in case of disaster. In one survey, a majority of entrepreneurs were found to have not included the estate planning documents that many professionals consider essential for asset protection and succession.

The use of irrevocable trusts

When Georgia residents are planning their estates, there are many ways for them to ensure that their loved ones will be provided for. However, there are situations where they may want to keep control over their assets. Irrevocable trusts not only allow people to retain control, but there may also be tax savings and other financial benefits.

Wills and drafting mistakes

Many Georgia residents draft their own wills. However, they should be aware of which mistakes to avoid so that their preferences are honored after they die. One is failing to name all immediate relatives or those who would have cause to contest the contents of a will. Relatives are entitled to know if they have been disinherited, which the court will do when the will has been submitted for probate. The will should include names of living and deceased spouses, parents, children and siblings and should detail who has been disinherited.

Reasons to discuss your estate plans with your family

You may not look forward to discussing your estate plans and instructions for your end-of-life care with your family in Georgia, but it is one of the most important conversations you can have with them. Talking to them now about life after you pass away can make it easier for them to accept things and help to protect your estate. 

Types of charitable trusts

Georgia residents who wish to leave a portion of their estate to a charity might want to use a charitable split-interest trust. This type of trust provides an income for the beneficiary as well as supporting a charity. With a charitable remainder trust, there is a set amount of time in which the trust pays the settlor or the beneficiary at least once a year. At the end of the term, which could be a person's lifetime, the remaining assets go to the charity. With a charitable lead trust, this is done in reverse with the charity receiving distributions for a set period of time and the remaining assets going to the beneficiary at the trust's end.

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
Map & Directions

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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