Of course it makes sense that a Marietta wills and estates lawyer would tell you to create a will, right? Our job is to help people plan for what will happen to their estates once they’re gone. But, having been involved in estate planning in Marietta for such a long time, it’s clear that message of proper planning is something more people still need to hear.
That’s why I’ve put together a list of four brief reasons that explain why you need a will…and why it must be created sooner, rather than later. There are certainly many other aspects to consider, but these can have a great impact on the future of your estate:
Reason You Need a Will #1: It Saves Money
There are so many financial issues that come into play once an individual has passed away, and it really does take a trained lawyer to understand them and come up with a solid game plan. An estate planning attorney is able to help you take advantage of tax benefits that you might not have otherwise known were available, as well as help you save an incredible amount of money that can be passed on to your heirs.
Reason You Need a Will #2: It Protects Your Family
Not all adults have minor children, but those who do should have a will in place that names who they want to be their child(ren)’s legal guardian in case of death or incapacitation. If you and your wills lawyer in Marietta have not formally and legally laid out this information, then it will be up to the courts to determine who will raise your children in your absence. Keeping your will updated also protects other family members, as you can determine what goes to whom, rather than having family members cause fights and drama over your estate.
Reason You Need a Will #3: It Keeps Real Estate Intact
Do you own a house or other property? If so, and you pass away without a will, the courts will likely pass co-ownership of that property to your heirs. What happens when some of your heirs want to keep the property and others want to sell it? What if you specifically want a certain heir to inherit your property? What if you don’t want your heirs inheriting the property and would rather leave it to someone outside the family instead? Without a will, the answers to all of these questions will be completely out of your control.
Reason You Need a Will #4: You Might Not Be Allowed to Do It Later
One of the requirements of a valid will is that the person creating it is of “sound body and mind.” If you become victim of an illness or injury that brings your ability to make sound judgments into question, you may be unable to put together a legally binding will later on. Anyone who does not agree with your decisions can simply contest the will, saying that you were not competent to make those choices; and the whole thing could end up in court.
Of course, there are many, many other reasons to meet with a Marietta lawyer and have an estate plan designed that addresses your unique legal and financial needs. We’re happy to help you get started with the process, so if you have further questions about wills here in Marietta or you’d like to move forward protecting the people and things you love, please give our office a call at 770.425.6060 and ask to schedule a free Georgia Family Treasures Planning Session with the mention of this article ($600 value).
October is Special Needs Planning Month!
Many parents of special needs children do a great job attending to their children’s daily needs, but haven’t given any thought to planning for the day when they will no longer be around or no longer able to care for their children. As a Marietta special needs attorney, I have noticed clients who take this approach and don’t adequately plan for their children with special needs.
A lot of parents of these children haven’t even bothered to write a will, let alone make any special provisions for the children to be cared for later on in life.
We found 5 tips that parents of special needs children can use as they consider planning strategies in a recent article that we thought were worth sharing.
- Write a letter of intent. This is not in place of a will, but lists everything that is needed for caring for the child. This includes names and contact information for all doctors, therapists, teachers or any other professionals they may see. This letter should also list the child’s likes, dislikes, allergies and so forth. This can be included in a will but can stand alone until a will is written.
- Set up a special needs trust. An attorney that specializes in special needs trusts should be contacted. The trust will serve to protect any assets that will pass on to the child.
- Consider buying life insurance. It should provide enough to provide for the child after the parents are gone.
- Take the child’s name off of any assets. This is so the child will not be disqualified for government benefits.
- Set up a guardianship for the adult child. Before the child is 18; the parents should file to be the adult child’s legal guardians.
These tips can help parents provide for their special child’s future while supporting their own peace of mind.
If you are the parent of a child with special needs, and you want to get started with putting in places plans for your child’s future, call us at 770-425-6060 and schedule a Georgia Family Treasures Planning Session ($600 value) at no charge. Or for more information on planning for your child, go to GeorgiaSpecialNeedsLawyer.com and download my FREE guide, “Legal Planning For Special Needs Children: Special Needs Planning Guide” Read it and learn How to Put a Fortress of Protection Around Your Child Through All of Life’s Transitions When Your Child is Disabled.
DID YOU KNOW…
That if you were to pass away or become incapacitated while your child is at school, the authorities may not release your kids to those you listed on the school emergency card?
Because by law, the authorities can only leave your kids with their “legal guardian” or surviving parent if something happens to you.
If the surviving parent is unavailable or something happens to you both during school hours, your child will may possibly be placed into the care of social services until a judge (who doesn’t know you or your wishes!) should decide where they should go.
That is NOT a position you want to put your kids in—especially during a time of grief!
Fortunately, putting a plan in place to make sure your kids are protected if something happens to you is EASY!
Here’s a brief checklist to help you “get your ducks in a row” before the school year starts:
- Have I legally documented short and long-term guardians to care for my kids if something happens to me and/or my spouse during school hours?
- Do the people I listed on my child’s school emergency card match those I’ve legally named as guardians? (If not, your emergency contacts will only have permission to pick your kids up if they are sick – not care for them if something happens to you).
- Have I provided my chosen guardians with the documentation they need and instructions on what to do if called upon in an emergency situation?
- Have I prepped the babysitter who watches my child either before school or after school on what to do if something happens to me so child services are not called in?
If you answered “no” to any of these questions, now is the perfect time to get a plan in place before the hustle and bustle of school season starts!
Just call me, Cobb County family lawyer, Steve Worrall. As a dad and a lawyer I am passionate about ensuring young families protect their children. Call 770-425-6060 and ask to schedule a Georgia Family Treasures Planning Session at no charge (up to $750 value) and get $250 off your plan (any one of our 3 levels of planning packages) with the mention of this “Back to School” Article.
Together we’ll legally document your choice of guardians and create a plan that ensures your kids are cared for by the people YOU want if the unthinkable happens.