Advantages of Special Needs Trusts for your special needs children

Receiving money through an inheritance above $2,000 will disqualify certain special-needs children from remaining qualified as a Medicaid and SSI recipient. Without planning, your child will not remain qualified for many governmental benefits they may need. Special-needs planning protects your disabled child, and allows them to inherit from you.

Your child, or loved one, may need care throughout their lifetime. Preparation allows your child to keep his or her inheritance, and avoid the mandatory spend downs, or being removed from assistance all together.

Wise and knowledgeable planning is key to avoid all of this, through the creation of a Special Needs Trust. A Special Needs Trust allows you to leave the assets intended for that child in the Trust that is designed to supplement benefits received from government programs. The Trust can pay for medical care that Medicare and Medicaid do not cover, clothing, entertainment, discretionary spending and even vacations. However, there are certain things the Trust cannot pay with the funds. Contact our office at (404) 260-1901 for help in designing a Special Needs Trust to protect your loved one. We can create the Trust to receive life insurance, retirement funds, or other assets, without creating negative repercussions.

What is “Estate Planning”, and can it prevent “Probate”?

Yes, you and your loved ones can avoid probate with the right estate plan in place.

Estate planning is the most important step you can take to protect your loved ones from the fees, hassles, and delays of going through the probate proceedings.

Estate planing ensures your ability to make your final health care and property wishes, and that your loved ones are provided for in your absence. Not only can your family avoid having to go through probate, but also you can identify who receives your property after you pass away, and ensure it goes to whom you desire as quickly as possible. You can set up at what age your children or grandchildren inherit from your estate, as well as, set up special trusts for special needs children so they do not loose out on government benefits. You can set forth your own funeral and burial arrangements, and whatever else you would like to address to make sure everything goes right in the future. Without an estate plan, your estate will be subject to the discretion of others, fees going to non-family members, and a probate process that will be an additional weight on your family. I would be happy to have this discussion with you at my office. Together, we can make an estate plan to protect your loved ones, and that perfectly matches your goals. Give me a call at (404) 260-1901 to arrange for a time to discuss a customized and comprehensive estate plan for you.

Is my “Will” sufficient, and will my family have to go through “Probate”?

While the Uniform Probate Code, and about half of the states recognize holographic wills (signed by the testator but not witnessed), Georgia does not. A Georgia Will must be in writing, signed by the testator (or by another person in his presence and by his direction), and attested to by 2 or more competent witnesses.

Regardless of whether you passed with or without a will, and if your will may be considered valid or invalid, your loved ones will need to go to probate court. However, if your will was well drafted by an attorney, you may not need to continually seek court approval and appear before a probate judge. Additionally, if you have made a comprehensive estate plan, you may avoid probate altogether. Therefore, it is important to have an attorney guide you through this process. Here, at Thomas Walters Estate Planning Firm, if you need help with a loved ones probate, I can help you notify potential beneficiaries, file and pay estate taxes (if applicable), distribute estate assets, and close out the estate. If you would like to discuss ways that you can avoid probate, I can help you meet these goals too.

What if the Will was invalid or there was no will, who is entitled to share in the estate?

If a Georgia Will is legally invalid, or there was no will, the decedents estate will pass according to Georgia’s Intestacy Statute. This statute provides that a decedents surviving spouse will share the estate with the decedents surviving children, except that the spouse will never take less than 1/3 of the estate. So, for example, if there are two children and a surviving spouse, then each of the three heirs will take a 1/3 share. If there are three children and a surviving spouse, the spouse will take a 1/3 share, and the three children will share the remaining 2/3 equally.

However, if you have ideas about who should get your assets and how your estate should be divided, it is important that an attorney draft the documents that meet your needs. Here, at Rabalais Law, I can help you meet your goals and wishes in relation to your assets, so Georgia law doesn’t choose for you.

I am committed to helping you protect your assets and I would welcome the opportunity to work alongside you in designing your plan. Give me a call at (404) 260-1901 to arrange for a time to discuss a customized and comprehensive estate plan for you. You can also register for an educational seminar at www.twestateplanning.com, or call our seminar line to register at (800) 283-8252.

The Greatest Gift Anyone Can Offer . . . an Estate Plan

During your lifetime, you accumulate a lot of things, some valuable and some not. When you pass away, these things are called your estate. Your estate may include your home and other real estate, life insurance policies, bank accounts, investment accounts, stocks and bonds, and any personal property such as cars, collections, and jewelry. Regardless of how large or small your estate is, one thing is certain. You can’t take it with you when you die.

In very simple terms, an estate plan consists of your instructions for getting your assets to your loved ones when you are no longer here. An estate plan is not just for those who are retired. No one can predict how long they will live. In addition, illnesses and accidents happen to people of all ages. Estate plans are also not just for the wealthy. Estate plans often mean more to those with modest assets since they can afford to lose the least.

The time to develop an estate plan is now. You don’t want your family to be caught off-guard and unprepared when incapacity or death occurs. You will have great peace of mind knowing that you have a plan in place to protect your assets and your loved ones.

It is important to have an attorney that can guide you through the estate planning process and protect your estate from unnecessary fees, taxes, and probate proceedings. I am committed to helping you protect your assets and I would welcome the opportunity to work alongside you in designing your plan. Give me a call at (404) 260-1901 to arrange for a time to discuss a customized and comprehensive estate plan for you. You can also register for an educational seminar at www.twestateplanning.com, or call our seminar line to register at (800) 283-8252.

What exactly is an “Estate”?

When a person passes away, their estate consists of any and all property owned by them at the time of their death, including; your home and other real estate, your life insurance policies, your bank accounts, your investment accounts, your stocks/ bonds, and any personal property like cars, collections, jewelry, etc. To protect your estate from unnecessary fees, taxes and probate proceedings, it is important to have an attorney guide you through the estate planning process. I am committed to helping you protect your estate, and would welcome the opportunity to work alongside you in making your plan. I am committed to helping you protect your assets and I would welcome the opportunity to work alongside you in designing your plan. Give me a call at (404) 260-1901 to arrange for a time to discuss a customized and comprehensive estate plan for you. You can also register for an educational seminar at www.twestateplanning.com, or call our seminar line to register at (800) 283-8252.

The Nuts and Bolts of Estate Planning

The Nuts and Bolts of Estate Planning

Without an estate plan in place, your death could wreak havoc on your family. Your estate will be subject to the discretion of others and probate can inevitably create stress and additional expenses that your family does not deserve.

Estate planning is the most important step you can take to protect your loved ones from the fees, hassles and delays of going through probate proceedings. A customized and comprehensive estate plan will also ensure that 100% of your hard-earned assets will remain for your loved ones. You can specifically identify who receives your property after you pass away and you will have great peace of mind knowing that it will be transferred to them in a smooth, efficient and timely manner. A complete estate plan includes the following tools to:

• Avoid nursing home poverty

• Avoid probate

• Document end of life decisions

• Document incapacity issues

• Avoid taxes

• Provide for your spouse

• Treat children fairly

• Plan for special needs children

• Protect your children’s inheritance from their divorces

• Handle blended family issues

• Distribute personal effects

• Appoint the right people to handle your estate

• Title your assets

• Keep your financial matters private

• Protect yourself from lawsuits

• Protect your pets

• Protect yourself from future life changes and law changes

Together, you and I can design an estate plan that perfectly matches your goals and protects your loved ones. Upon completion of an optimal plan for you and your family, I will provide you with a professional and thorough estate planning portfolio that includes all of the pertinent documents and information. In addition, if your family circumstances change or if there are future law changes, I can draft up the necessary amendments to your estate plan at no additional cost.

Feel free to call me at (404) 260-1901 to set up a time to visit with me about an estate plan that will work for you. You can also register for an educational seminar on my website, wwwwww.twestateplanning.com, or by calling the registration line at (800) 283-8252.

Face the Facts about Wills and Probate

Did you know that for a will to be valid in Georgia, it must be signed by yourself or another individual under your direction, and two witnesses?  Also, writing a will without legal help may render all or part of it invalid.  Regardless of whether you pass away with or without a will, and if your will is considered valid or invalid, your loved ones will need to go through the Georgia Probate Court. 

Probate is the process by which the court makes sure that when you are gone, your debts are paid and your assets are distributed according to your wishes.  Your family will be required to seek court approval and appear before the approbate judge on many matters.   Probate court proceedings can be long, costly and confusing.  However, if your will is well drafted by an attorney, your family may not need to continually seek such approval. 

Probate can be avoided by taking some simple steps while you are alive to spare your family the hassle.  By developing a comprehensive estate plan to include a revocable living trust, you can avoid probate for virtually any asset you own, including real estate, bank accounts and vehicles. At the time of death, the trust beneficiaries receive the assets without the stressful probate court proceedings. 

I can guide you through all aspects of estate planning, from creating a will and settling an estate in probate, to designing a customized and comprehensive plan to protect 100% of your hard-earned assets for your loved ones.   It is important to have a knowledgeable attorney that works exclusively in estate planning to guide you through this process for your entire lifetime.  Please give me a call at (404) 260-1901 to set up a time to discuss your options or register for an educational event at www.twestateplanning.com, or call our seminar line to register at (800) 283-8252.