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Tips for Passing Down Wealth, Elder Law Attorney, Woodstock, GA


While you may have been fortunate and knowledgeable enough to amass wealth, that does not necessarily mean that you know the best way t
o pass it down to future generations.

Estate planning can seem a bit overwhelming for the wealthy. The more assets that you have, the more considerations you have to take into account when deciding how you want to distribute them in your estate.

Most people do not know where to begin making their plans.

The obvious and best answer is to begin by hiring an experienced estate planning attorney.

It is often a good idea to go into a first meeting with an attorney with some idea about your options and what you might want the attorney to help you accomplish.

Recently, Forbes published an article titled “5 Tips For Handing Down Your Wealth.

Here is a snapshot of that advice:

  1. Consider using a charitable remainder trust if you plan on leaving money to charity. These trusts allow you to receive lifetime income from current assets and get a tax break. Whatever is left in the trust after you pass away will go to charity.
  2. A life insurance trust might be a good tool to keep a business in the family while providing needed cash for your family members in the form of life insurance while they are waiting for the estate to wrap up and distribute assets.
  3. You might want to set limits on how your heirs can use their inheritances to make sure that your wealth is not squandered.
  4. If you have a lot of assets, a professional trust manager might be a better option than naming a family member as a trustee.
  5. Make sure that beneficiary designations are up to date.

In the end, the experienced assistance of an estate planning attorney who has been there and done that will make the process much easier for all concerned.

Reference: Forbes (June 5, 2015) “5 Tips For Handing Down Your Wealth

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