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No Estate Plan for Many Rich People, Elder Law Attorney, Woodstock, GA


Recently a survey was conducted of millionaires, the results of which show that a staggering one-third of them do not have any sort of estate plan.

 

While it is advisable that everyone have an estate plan of some sort, the truth is that some people can afford not to have one. People who have very few assets and who are comfortable with those assets being passed on to their closest living relatives may also not need to create a detailed estate plan.

 

Although their estates would be much easier to manage with a plan, and they would be doing their families a big favor by creating an estate plan, their estates can normally be handled successfully without one.

 

On the other hand, all that changes when people have a lot of assets.

 

If the wealthy pass away without an estate plan, chaos is often the result. The courts have to decide who gets what. Families are likely to argue when there are a lot of assets involved.

 

The probate case can drag on for years before it is finally settled.

 

Despite this, Financial Advisor IQ reports that many millionaires do not have an estate plan in a recent article, “One-Third of Millionaires Have No Estate Plan.”

 

There is no good excuse for a millionaire not to always have an up-to-date estate plan.

 

If you are one of those who do not have one, you should schedule an appointment with an experienced estate planning attorney as soon as possible.

 

The time that you take to create the estate plan now is time that you will save your heirs later.

 

Reference: Financial Advisor IQ (July 2, 2015) “One-Third of Millionaires Have No Estate Plan.”

Hear From Our Clients
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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

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!

- Kerri

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

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben