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Are you in need of a trust or estate planning lawyer in Cartersville, GA? A trust is a powerful estate planning tool that can ensure that your wishes are carried out at the end of your life. This legal solution can also make the process of transferring your property easier for your loved ones.
The term “trust” is broad, covering a wide range of legal tools. You don’t have to have millions in the bank for a trust to effectively help you plan for the future. Before you can determine what type of trust is best for you, you should speak with the knowledgeable attorneys at Nelson Elder Care Law about the available options. Call now for a free consultation with an estate planning lawyer in Cartersville, GA and surrounding areas.
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There are many benefits of including a trust in your estate plan. A living trust not only has the potential to ensure your final wishes are met, but it can also assist with your financial needs until the end of your life. A trust can provide flexibility, giving you options on how your property, including your house and savings, is used both during and after your life. Many people don’t know, but a trust can avoid the need for a guardianship and conservatorship when someone loses capacity.
A properly created trust can also help protect your property from creditors. A trust that is drafted and funded correctly will enable your beneficiaries to avoid probate court after your death. Without the correct type of trust, your beneficiaries will be required to go through the probate court process to transfer ownership of assets from you to them. During the probate court process, creditors can come after the assets in your estate to pay your bills before your beneficiaries receive their inheritance. When you pass, your trust becomes the owner of your property until the trust document determines it is time to distribute your belongings to the intended beneficiary.
Of course, trusts are not the right choice for everybody. The experienced trust lawyers at Nelson Elder Care Law can help you decide if a trust would be beneficial for you during the planning process.
While there are multiple types of trusts, one that is frequently used is a revocable living trust. The person creating the trust can be the trustee (manager of the trust) for this type of trust. As the trustee, you can make changes during the course of your life and when you pass away, the trust operates similarly to a will. A revocable living trust distributes your property held by the trust to your beneficiaries once you pass.
The most common type of trust is an asset protection trust. When this type of trust is drafted correctly, you can make changes to the trust throughout your life, like a revocable living trust. The biggest advantages of this trust are that it can protect your hard-earned life savings from creditors, lawsuits, and future medical costs (including the high cost of long-term care) and it can assist with the qualification for benefits to help you pay for care as you age. If you are worried about running out of money during your life, come and talk with our team about an asset protection trust.
Some trusts are not related to the distribution of property at all. For example, a special needs trust can set aside money for a child who will need specialized care for the remainder of their life. Trusts can also set aside funds for anything from nursing home expenses to the care of a beloved pet. To learn more about the different types of trusts, get in touch with us to find a knowledgeable estate planning lawyer in Cartersville, GA.
Many people pass away without a trust in place. While some have a will to rely on, others have no estate plan whatsoever. Without a trust, your family must go through the probate court process, which can be time-consuming and costly. In most cases, probate could add months to the process of distributing your belongings to your heirs.
There are also potential tax consequences that come with not using a trust. Certain transfers to a trust during the course of your life could limit the tax liability your family faces once you pass. Our knowledgeable attorneys can explain your options for limiting tax liability and help choose an effective strategy for your personal situation.
Trusts are complex but useful tools in an estate plan. Due to their strict requirements, a mistake or omission in crafting these documents can easily make them worthless. To protect your rights and ensure that your future wishes will be respected, never attempt to create a trust on your own.
Don’t risk leaving your loved ones without a trust. Instead, call our team at Nelson Elder Care Law. Calling on almost a decade of experience, we’ve evolved alongside the best legal practices that have come about in recent decades. As we have grown with these best practices, we have honed our craft and streamlined our process to provide you with some of the most top-quality services in the industry. Working with estate planning lawyers in Douglasville, GA is a surefire way to simplify the process for yourself. Looking for an estate planning lawyer in Cartersville, GA or the surrounding area? Not sure if a trust is the right option for you? At Nelson Elder Care Law, our team is skilled at creating, managing, and updating trusts. Reach out to our Georgia trusts lawyers today for a free consultation.
My experience at Nelson Elder Care Law has been superior! Efficient, timely, competent — all the attributes you want but don’t dare expect! I had a trust created, a new will, and financial and healthcare directives handled, and they were all delivered in an organized binder with a flash drive containing everything. Kendra handled the trust funding with perfect attention to detail and made it all super clear. I feel more at ease now that I have everything as buttoned up as possible. An excellent feeling!
- Jane H. on Google
Recently completed the process of establishing a living trust with this establishment and encourage anyone who needs a will, trust, or any other legal document with respect to estate planning to contact this law firm. From my initial meeting and throughout the entire process, I was continually impressed with the knowledge, respect, efficiency, and comfort levels they represent.
- Barbara H. on Google
2230 Towne Lake Pkwy
Building 1200, Suite 120
Woodstock, GA 30189
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