Everyone can benefit from estate planning in Alpharetta

A lot of estate planning conversations center around how to best avoid state or federal estate taxes, but not all of Alpharetta residents are going to hit the $5.25 million exemption -- or whatever lawmakers decide that amount may be at the time of death. Can estate planning benefit those with estates that don’t add up to multiple millions?

The answer is definitively, yes. Everyone can benefit from a thorough estate plan, and here are couple reasons why and a tool or two that everyone should have on hand.

Without proactive planning, an estate can get tied up in the probate process. Estate taxes are not the only cost incurred during this process; probate itself can be very expensive. Finding ways to avoid probate can really make a difference, especially where there are limited assets to go around.

So how does one avoid probate? Contrary to some popular assumptions, having a will does not mean that your estate will avoid probate. It simply means that the court has your words to follow when making decisions, whereas a court will make decisions based on default rules when one dies intestate (without a will).

Beneficiary designations such as ones made in life insurance policies allow assets to pass immediately, outside of the probate process. Some state laws even allow “payable on death” or “transfer on death” documents to attach to property such as homes, vehicles or bank accounts.

Estate planning isn’t just about the money that we will pass on to our loved ones. It is about health as well. A living will provides specific direction over what medical decisions should be made and what end-of-life measures should be taken if we were to become incapacitated. It also avoids conflict and undue stress placed on family members who are forced to make the decisions during a difficult time.

Understanding what options are available in Georgia, what tools will best protect an estate and even planning for the unpredictability in life are only a few reasons why having the guidance of an experienced attorney is best.

Source: Forbes, “Estate Planning For The Rest Of Us,” Liz Davidson, Sept. 12, 2013

No Comments

Leave a comment
Comment Information

Mr. Teiger, Thank you very much for your time and results. I will definitely recommend you & your firm to anyone who wants to be treated professionally courteously and needs results.Hope all is well.Again...thank you. Regards, Paul L.

msg iconEmail Us For a Response

When you have legal questions or concerns, contact our team at Teiger Law Center, P.C., by calling 678-374-7645, 800-780-2275 or reach us via email by completing our online contact form. From our Cumming and Alpharetta law offices, we represent clients in the Atlanta metro and throughout north Georgia.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Cumming Office
514 West Maple Street
Suite 101
Cumming, GA 30040

Toll Free: 866-726-2153
Phone: 678-374-7645
Fax: 770-406-8858
Cumming Law Office Map

Alpharetta Office
12600 Deerfield Parkway, Suite 100
Alpharetta, GA 30004

Toll Free: 800-780-2275
Phone: 678-374-7645
Fax: 770-406-8858
Map & Directions