Posts tagged "Trusts"

Getting married late in life? Discuss estate planning

Many Georgia residents are waiting until they are older to get married, perhaps age 40, 50 or beyond. There are many reasons people say they're choosing to wait to get married until later in life. Getting married at age 55 is definitely different than getting married at age 25. The older spouses are, the more critical it is for them to discuss estate planning as they transition into married life.

How to fund a living trust

Georgia estate owners who wish to set aside property for their loved ones, but who also wish to help family members avoid probate, may wish to explore options that can help them achieve both goals. Setting up a living trust is a common means for managing property while keeping taxes low. However, merely setting up a trust is not enough; in fact, it is no good at all if property or assets are never transferred to it.

Asset protection is critical factor toward long-term elder care

In Georgia and elsewhere, nursing home living is typically quite expensive. However, it is not uncommon for older people to need daily living assistance for any number of reasons. That is why it is always a good idea to think about asset protection and to plan for the possibility of needing funds to pay for nursing home living at some point in life.

Trust: Understanding types and determining which is best

Many adult children in Georgia assist their aging parents in long-term care planning issues. Executing an estate plan is often part of this process. Certain legal issues can be quite complex, such as those regarding choosing a trust. The type of document used can have a significant impact on inheritance, charitable donations, estate taxes and more.

Why estate planning matters so much to elders

It is not uncommon for Georgia residents ages 65 and older to face challenging elder care issues in life. Adult children may try to help their aging parents with long-term care planning, which often includes the estate planning process. As people age, they are often more open to discussing their own mortality. Executing an estate plan is important for elders for many reasons.

Estate planning is not just about signing a will

Many Georgia residents and others associate matters of estate with signing a will. While signing a last will and testament is a common part of the estate planning process, there are many other types of documents and issues involved in executing a solid estate plan. It is never too early to learn as much as possible about the process; in fact, for those age 50 and beyond, it is often a crucial aspect of long-term care.

Things to know about irrevocable trust when helping elders plan

Elder law covers a variety of issues. Many Georgia families are currently exploring their options regarding asset protection, advance medical directives or building trusts. Where the latter is concerned, there are options within the options, meaning there isn't just one type of trust. Determining whether an irrevocable or other trust best fits one's particular needs may be easier if experienced guidance is sought.

Attention Georgia elders: Avoid these estate planning pitfalls

Georgia elders often have a lot on their minds as they transition to assisted living care or make plans to organize the legal documents that will provide for their heirs and beneficiaries once they themselves have died. While some people try to avoid discussions about mortality, others realize that the estate planning process is, for the most part, an integral part of life that needs to be addressed in order to help loved ones avoid certain problems down the line. There are several avoidable errors that elders can address as they enter the long-term care planning process, which often includes execution of estate plans.

Estate planning pitfalls Georgia elders will want to avoid

As life expectancy has greatly increased in Georgia and throughout the nation, it is quite possible that an elder may live beyond 90 or 100 years. The estate planning process is a valuable tool for elders who wish to protect their assets and also provide for their own long-term care. There are several issues to keep in mind to avoid some of the most common errors people make when filing the documents of their estate plans.  

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