How to resolve AdBlock issue? Love deserves more than candy and flowers
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- James Miskell, Attorney at Law | Estate Planning
It’s that time of year again – love is in the air! As Valentine’s Day approaches, we make dinner reservations and shop for the perfect gift to express our love. This Valentine’s Day, consider giving a heartfelt gift—an estate plan to provide support and guidance for them during grief and loss.
Whether your assets are large or small, giving your family the peace of mind of knowing your wishes in these difficult times is priceless.
You are likely thinking, “that doesn’t sound romantic or fun!” Cupid would not be interested. While an estate plan may not be something we wrap with a pretty bow or present in a heart-shaped box, taking the time to get your affairs in order is a perfect way to show your loved ones just how much much you care.
What about the distribution of your assets when you die? Do you and your spouse have step-children from prior marriages? Do you have a child that needs help managing money? A child with substance abuse issues? A child or grandchild with a disability or special needs?
The gifts you leave for loved ones can be protected from creditors and predators. These gifts can be insulated from future divorce and structured to ensure that disabled beneficiaries receive maximum advantage from your gift without losing government benefits. A Living Trust can also be structured to extend asset protection for you during your life and can be useful in preparing the family to handle the costs of long term care.
Whether your estate is large or small, planning ahead lets you control costs and take uncertainty out of the process for your family. Planning allows you to appoint the right person to handle your estate and to pay that person as much or as little as you think is right. You can make sure your possessions go to the right people—the people who will truly appreciate them. You have the ability to protect your loved ones from bad decisions, outside influences, creditors and divorcing spouses. You can even use trust planning to help your family avoid probate altogether. Most important, you lighten your family’s burden by reducing the number of stressful decisions they will face.
There’s no better way to show your love for your family than to craft a plan to ensure that you are taken care of in the event of disability and that they are taken care of in the event of your death. And you can leave a legacy that will last for many more Valentine’s Days to come!
James M. Miskell received his law degree from the University of Georgia in 1993. His Asset Protection, Estate Planning and Elder Law practice has offices located in Lawrenceville and Johns Creek. He offers educational workshops and free consultations to assist clients as well as fellow professionals in creating individualized solutions. Visit his website: www.LetsTalkEstatePlanning.com.
For more information visit http://www.attorneymiskell.com/Attorney/
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