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Little Things Matter in Estate Planning, Elder Law Attorney, Woodstock, GA


People often think that estate planning is only about deciding who gets big ticket items, such as a house, a car and a stock portfolio. However, the little items of personal property can be just as important.

A typical will often goes into great detail about a relatively small number of items. Wills carefully describe who gets particular pieces of real estate, for example. Wills often describe who gets any cash and how much they get.

The majority of assets, personal property items, are often dealt with simply by providing that they should be divided between various family members. A typical clause might state something like, “Everything else should be equally divided between my children and their descendents.”

This can be a mistake as the New York Times points out in “When Dividing Assets, the Little Things Matter.”

The problem is that the small items of tangible personal property are often the biggest source of disputes between family members. If multiple people want the same item, then they might fight about it. Parents of minor children instinctively know this.

No parent with two teenagers would bring home one iPad and tell the children to decide between themselves which one of them should have it exclusively. Adult children are not always all that different when they are told to decide between themselves who gets what.

For this reason it is important to spend some time thinking about items of tangible personal property when planning your estate. If you think certain items might be a source of contention, then you can direct who gets them beforehand. You can also suggest that family members take turns picking items or that they use some sort of service, such as software or a professional, to help divide things peacefully and equally.

A qualified estate planning attorney can help you plan an approach appropriate for your unique circumstances.

Reference: New York Times (April 15, 2016) “When Dividing Assets, the Little Things Matter.”

 

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“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

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Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

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I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce