Want to Preserve Your Georgia Estate & Legacy for Future Generations?
The Farrell Law Firm delivers a personalized strategy when helping our clients plan their estates.
At the Farrell Law Firm, we help you achieve your unique goals in estate planning, whether that includes providing for a loved one with special needs, preserving your child’s inheritance after divorce, or documenting your healthcare wishes in the event that you become disabled.
We can do this because we never take a one-size-fits-all approach to crafting an estate plan. We custom-tailor an estate plan for you.
When considering end-of-life scenarios, careful estate planning can be as important as accumulating wealth was in the first place. The goal of financial certainty and control should not collapse due to an unforeseen event, lapse in health, or untimely passing.
Through foresightful estate planning, our clients can protect and preserve their assets for chosen beneficiaries. Thereafter, those assets can be transferred during life or upon death to achieve a set of pre-established goals.
At the Farrell Law Firm, we employ sophisticated, creative, and innovative planning methods to solve complexities and meet our clients’ objectives for their own estate.
If you have questions about estate and trust law, contact the wills, trusts, and estate planning lawyers at the Farrell Law Firm.
How Can You Benefit from Estate Planning?
Estate planning is not only for the wealthy. People in all economic circumstances can benefit from having a precisely worded and thoughtful will and estate plan. Take advantage of, and confer upon your loved ones, the benefits of estate planning. These include:
- Maintain control of how your estate is handled while you are alive and after death.
- Gain peace of mind knowing your loved ones will be provided for in the event of your passing.
- Maximize the assets you transfer to your beneficiaries while minimizing costs associated with complicated state and court proceedings.
- Make end-of-life decisions before end-of-life, so you are prepared for any unexpected illness or disability.
- Avoid leaving a difficult or tangled estate in the event of your passing, and help your family avoid the difficulty or confusion involved with probate.
- Preserve your legacy for future generations.
If you are married, have children, own a home, stocks, or other types of assets, or are concerned about what will happen to you as you age, consider estate planning and the Farrell Law Firm to help.
What Becomes of Your Estate if You Have No Plan?
In the event of your untimely passing without a will or an alternate estate plan, your property is distributed based on the strictures of Georgia probate laws.
If you are survived by a spouse and children, those individuals will be entitled to equal shares of the estate in probate. This proportionate allocation may differ depending on the number of children you have, and if you only have children or only a spouse and not the other, then the estate is passed in full accordingly.
If you have no heirs, then your estate will pass to parents, siblings, grandparents, or the State (by way of the board of education), listed in order of the groups who would inherit first.
Assistance with Estate Planning Can Make all the Difference
While it is certainly possible to plan one’s own estate without the assistance of counsel, it is no easy task.
That task is made more difficult by more or more complicated assets, or even one’s own vision for appropriate, efficient, and clear distribution of wealth. The standards to which an estate plan is held can impact poorly planned estates.
Retaining control over the distribution of wealth in an end-of-life scenario is almost a universal request, and that control can be compromised by even slight mistakes in planning.
Estate Planning in a Dynamic Age: However you or your loved ones feel about the Tax Cuts and Jobs Act of 2017, it has affected some estates and the assistance of an attorney can help you to understand how you may be affected. The new law did not do away with the estate, gift, and generation-skipping transfer taxes, but doubled the exemptions for those, from five million to ten.
At the Farrell Law Firm we help our clients navigate the web of sometimes overly rigid state and federal laws to ensure validity and effectiveness in a planned estate. We help our clients through the daunting technicalities and emotional considerations that necessarily precede a clear and effective plan, which can then be altered as needed.
Our careful and creative estate planning attorneys can help you protect and preserve your family’s wealth and carry out your wishes.