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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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“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.”

- Bonnie

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!

- Kerri

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