Estate planning is about more than just creating a will, and it is a process that everyone should engage in regardless of how much money they have. An estate planning lawyer in Peachtree City, GA, may be able to help you create a plan that meets your needs now and after your pass.
What Should Be in Your Plan?
Ideally, your estate plan will have a will or a living trust in addition to powers of attorney. Living trusts can take effect during your lifetime, and they can be an effective tool to keep assets out of your estate. Wills and living trusts can both be used to name a guardian for your children. A financial power of attorney gives another person the ability to pay taxes or manage your bank account if you become incapacitated.
Make Sure Trust Assets Are Properly Titled
If you have a trust, make sure that assets are titled in its name if you want them to avoid probate. Assets that are not properly titled will typically revert to your estate, and this means that they can’t be transferred until the probate process is complete. It may be possible to transfer property to a trust at the time of your death by using a pour-over will. An estate planning lawyer in Peachtree City, GA, might be able to help you ensure that these documents are in order.
If you need help creating or evaluating your estate plan, visit www.campenestateplanning.com today to learn more about the firm’s services.
