Georgia Wills & Trust-Based Plans Attorneys
Accessible and Reliable Legal Professionals
Trust-based estate planning is used in situations when clients need a more sophisticated estate plan or have estate planning goals or personal needs that cannot be accomplished with just a will. Our seasoned lawyers at Meyring Law Firm have more than a decade of experience counseling clients throughout the greater Atlanta area so they feel confident knowing their wealth and futures are secure.
Add Trusts to Your Estate Plan Today
The most common use of trusts in estate planning often focuses on transferring real estate, possession, and money assets to the trust for the purpose of transitioning the ownership to the client’s family and friends. The trust-based estate plan is the most thorough and comprehensive estate planning solution, but it is not for everyone and it can be complex. Our highly skilled Atlanta trust and estate planning attorneys can help determine if this is the right solution for your estate planning needs.
When you choose Meyring Law Firm to represent you, our dedicated legal professionals will get to work helping you with the following:
- Avoid Probate: The last thing a family wants to do after the loss of a loved one is end up spending their days in probate court. Our trust-based lawyers can assist in expediting the process and limiting the role of government in overseeing how funds are managed after a loss. We can protect your assets from collectors, divorces, and other financial judgments that arise in a public proceeding.
- Leave Funds for Beneficiaries: For minors that you wish to benefit after death, establishing a trust-based estate ensures their security going forward. This can further benefit a younger person by helping them maintain an individual education plan in the absence of an adult.
- Managing Business Interests: Absolutely critical to continuing the flow of everyday practices for ongoing businesses, trust-based estate planning can ensure that a plan is in place for privately-held businesses in the event of the loss of ownership.
- Maintain & Grow Assets: Trust-based estate planning can help in minimizing, deferring, and planning for estate taxes or death taxes. Earn interest income on the assets in the trust so you can grow your assets, which can help alleviate or offset taxes and fees following a death.
- Keeping Disability Benefits: Loss can often prove most challenging for elderly couples, particularly when the surviving partner is unaware of their household’s financial situation. Trust-based estate planning can work towards continuing disability benefits onward and assisting elderly individuals to qualify for Medicaid, should it be necessary.
Trusts can help easily transfer assets to the next generation when a parent passes away. Our trust-based estate planning lawyers at Meyring Law Firm bring great degree of skill and experience to our clients to draft effective trusts that meet their planning goals. Our law firm also supports the trust in the years after the trust is set up so that clients will have access to the many benefits of their plans.
Protect Your Privacy After Death
If you are looking for a more sophisticated estate plan that is private from the public eye, our trust-based estate planning services in Atlanta may be what you need. Will-based estate plans and trust-based estate plans are very different in that trust-based estate plans remain private. Our trust attorneys can help guide you through this process in a discrete manner.
Will-based estate plans become public court records. Estate plans are filed with the local probate court, which means that it becomes a public court record, and therefore, anyone can see it.
The public record will reveal all of the following details:
- What you owned
- Who you owe money to
- Who will inherit your estate
- The names and addresses of your heirs
- The name and address of the executor
What Goes into a Trust-Based Estate Plan?
Your last will and testament needs to contain instructions regarding how your property should be distributed after you pass away, as well as provisions for your minor children. This will provide for a smooth transition of assets and instructions during your family’s most trying times.
A strong trust-based estate plan includes:
- Pour-Over Will: This is a special type of last will that simply directs where outstanding property not otherwise stated in a living trust ends up going. It basically states your trust as the beneficiary of any property not otherwise on hold through means like a beneficiary designation on a life insurance policy.
- Revocable Living Trust: This legal document determines how your property is managed and distributed. During your lifetime, you will have the authority to make decisions about the property within the trust. If you become incapacitated, the person named as your disability trustee will then take over making decisions.
- Advance Medical Directive: This outlines a person’s wishes and preferences in regard to medical treatments and interventions.
- Living Will: This is a written statement that outlines a person’s desires regarding medical treatment should they be in circumstances in which they can no longer grant informed consent. This, in conjunction with a medical directive, will provide relief from decision-making during medical ailments by providing legal protection and instruction on proceedings.
- Financial Power of Attorney: Allows the naming of one or more persons to handle financial or business affairs just as one would if they were handling the matter themselves.
- Should I Have A Will Or A Living Trust?
- What If You Died Tomorrow? The Importance Of A Last Will And Testament