A vital part of any Estate Planning process is identifying your assets and ownerships in Marietta. In fact, being able to locate and name these assets is often the first step in effective Estate Planning. This is essential not just to ensure that your Will or other testamentary documents are thorough, but also for avoiding the application of the state’s Intestacy laws that could create chaos and animosity during Probate.
Our well-practiced attorneys at Nelson Elder Care Law are prepared to help you perform this vital step. We can help you locate all relevant assets and determine their true ownership. We can then assist you in drafting Estate Planning documents that distribute these assets in a way that meets your goals.
Accurately identifying assets is one of the first steps in any Estate Planning process. The goal of having an Estate Plan is to ensure that your nominated heirs receive the maximum benefit of being named in your Will or other Estate Planning document. Naturally, it is essential to be sure that all assets go to the proper parties.
In most situations, it is fairly clear who owns a particular piece of property. The deed of a home may be in an individual’s name, or the title to a car or other vehicle. Similarly, money in a bank account or an investment fund may be solely in your name.
However, complications may arise when assets are the joint property of two or more people. In these situations, a Will may transfer only your portion of the property to your heirs after your death. This could result in joint ownership between heirs and a third party. This can be especially complex when dealing with ownership of a business or other ongoing entities. Our attorneys in Marietta can help you understand how your assets may be distributed if you share ownership of them.
Proper identification of assets and ownerships in Marietta is a vital part of any Estate Plan. From the most basic standpoint, it serves as a way to avoid any confusion as to your intentions when authoring your Wills. A Will that clearly identifies assets as opposed to speaking in generalities is far less likely to face challenges during the Probate process.
Another benefit to proper asset identification is being able to avoid the loss of control that results from a court’s application of the state’s Intestacy laws. The Official Code of Georgia Annotated § 53-2-1 provides a chart of which family members will inherit property that is not accounted for in a Will. This applies to situations where a court invalidates a Will as a whole, but also to cases where a Will does not specifically identify each individual asset. As a result, determining assets and ownership is essential to protecting the integrity of a Will as well as protecting the rights of your heirs.
The point of having an Estate Plan is to be sure that your assets go to the right heirs in the future. A fundamental part of this process is identifying your assets and your right to ownership over them. This includes listing all property that you solely own in addition to identifying any joint owners.
Our team at Nelson Elder Care Law can help you create a comprehensive list of all your assets and ownership in Marietta. With this information, we can create an Estate Plan that meets the relevant legal requirements and protect the property rights of your heirs.
“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.”
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.
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!
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.
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.