The Chouhan Law Firm, LLC: Estate Planning Attorney Atlanta
Do you need an estate planning attorney in Atlanta? The Chouhan Law Firm, LLC provides guidance for a secure and tailored future. Call us for more info.
Estate Planning Lawyer Atlanta
Are you or your loved one planning to transfer wealth to future generations while minimizing taxes, risk of loss, and family acrimony? It’s never too late to start planning for your family’s future. Hence, there is a need to consider estate planning.c
Estate planning is the legal plan for managing and distributing wealth and assets. An estate plan integrates business interests, properties, insurance benefits, and personal assets. Estate planning is a life-long process that needs to adapt to the law and clients’ needs. You require legal counsel from a trust attorney when dealing with estate planning needs.
At The Chouhan Law Firm, LLC, we discuss favorable practices to help meet your particular estate planning needs. Our estate planning lawyers are ready to assist with wills, trusts, probate, and estate planning matters. We create customized estate plans to fit your preferences.
Read the article further as we discuss how estate planning attorneys can help with your estate planning matters.
How to Plan Your Estate in Atlanta
When an individual passes away, their property needs to pass to another person. Individuals and families without set estate plans fail to protect their legacy. Also, they aren’t protecting the interests of their loved ones.
In Atlanta, the wealth planning process involves creating a plan for distributing assets and management of affairs after passing. Estate planning involves the creation of legal documents like:
- Powers of Attorney
- Healthcare Directives
Planning for the aftermath of one’s passing is complex and can be very uncomfortable. A competent adult can choose how their assets are distributed upon death. In case of incapacitation, you can also appoint another individual to make financial and healthcare decisions on your behalf. Here are steps to follow during the estate planning process in Atlanta:
- Determine your goals and objectives. Determine what you want to achieve with your estate plan. For instance, who can inherit your assets, manage your affairs, and make charitable contributions?
- Gather important information. Compose a list of your assets, debts, and essential documents like;
- Bank accounts
- Real estate
- Insurance policies
- Retirement accounts
- Consult an estate planning attorney. An estate planning lawyer in Atlanta can guide you through the process by helping you create a customized plan based on your needs. They also represent clients at the state court to validate your wishes.
- Create essential estate planning documents. Work closely with your attorney to develop the necessary legal documents. These documents outline your wishes and ensure they are fulfilled.
- Review and update your plan regularly. Periodically review and update your estate plan, especially after a significant life event, such as marriage, divorce, childbirth, or a change in financial circumstances.
Types of Estate Planning
Various estate planning strategies and tools can be utilized to meet particular needs. You can tailor your plan depending on your circumstances, goals, and jurisdiction laws. Common types of estate planning include:
- Will-based estate planning. It involves creating a last will outlining your wishes to divide your assets upon death.
- Trust-based estate planning. Trusts are legal entities holding and managing assets for the benefit of beneficiaries. The planning can incorporate tax law to help avoid probate and reduce estate taxes.
- Living trusts. They are revocable living trusts created during your lifetime. Living trusts can be modified as long as you’re mentally competent.
- Irrevocable trusts. This type of trust can’t be modified once it’s established.
- Healthcare directive. The plan allows you to specify your medical treatment and end-of-life care preferences. Life insurance planning may entail instructions regarding life support, resuscitation, and organ donation.
- A durable power of attorney. The plan authorizes an individual to make financial and legal decisions on your behalf in case of incapacitation.
- Beneficiary designations. An estate plan can name beneficiaries through life insurance policies and retirement accounts.
- Charitable planning. It involves incorporating charitable giving into your estate plan. For instance, setting up charitable trusts and establishing donor-advised funds.
Benefits of Estate Planning
Estate planning helps in asset distribution. It can also be beneficial to your family as follows:
- Developing an estate plan protects your minor children. An estate plan can state how your children are cared for and what resources remain available. If no estate plan is left, a court can appoint a guardian for the children.
- An estate plan takes care of your family and other dependents. Establishing an estate plan provides for family members who may need financial support.
- An estate plan makes your wishes clear. An estate plan relieves your loved ones from making decisions at challenging times. Your loved ones can clearly understand your intentions, eliminating arguments over assets. Additionally, it deters confusion, anger, and heartache.
- An estate plan makes a plan for your business’s future. A well-established estate plan allows a smooth transition of business to heirs.
How The Chouhan Law Firm Can Help You
Tomorrow is not guaranteed, but an estate plan can help reduce future uncertainties. So, undertake estate planning as early as possible. Navigating Georgia’s estate planning laws can be challenging, requiring careful attention and competent estate planning attorneys. However, our experienced team at the Chouhan Law Firm can help in various ways, including:
Comprehensive Estate Planning Services: Without proper planning, families may face legal challenges, but our lawyers are passionate about developing estate plans to prevent familial disputes. Our estate planning attorneys craft trusts, wills, and advance directives, ensuring that our clients’ wishes are respected and fulfilled. Additionally, we provide personalized financial planning advice to help clients secure the well-being of their loved ones.
Extensive Business Succession Planning: Our business succession planning lawyers assist in developing strategies to transition a business seamlessly to new leadership, addressing issues such as ownership transfers, management changes, and continuity.
Asset Protection: At The Chouhan Law Firm, LLC, we offer tailored asset protection strategies to help preserve wealth. Our Atlanta estate planning lawyers serve clients as trusted advisors to help confidently navigate estate planning.
Probate and Estate Administration: We assist clients in resolving complex probate and estate matters. We provides legal guidance and support through difficult times.
Get Immediate Help from The Chouhan Law Firm, LLC
Estate matters involving estate planning ensure your assets are allocated according to your wishes. So, it is crucial that you hire reputable estate planning lawyers. The Chouhan Law Firm, LLC is a full-service estate planning firm in Atlanta. Our Atlanta estate planning attorneys offer superior legal services with compassion and dedication.
We value our clients and offer peace of mind during estate planning. Our legal team provides lifetime support for estate planning and the probate process. Contact our Georgia Law Firm to schedule a consultation with seasoned elder law attorneys today!