Protecting Your Blessings Through Trust Planning

Trust planning can be considered one of the best tools of the wise and the wealthy.

How do trust planning and Thanksgiving go together?

As Thanksgiving launches us into the holiday season and the end of another year, most of us find ourselves reflecting over the current years’ events. This is the time when we consciously consider and count our blessings. We also think about different actions we might take to make our lives and the lives of loved ones even better.

Particularly considering the events of the past few years and the current economy and global unrest, I hope you are feeling blessed in many ways. I hope you’ve considered that you have much for which to be thankful.

Perhaps, because of current events, you may be thinking about how to protect the financial and material blessings you’ve been granted.

If this is something you’ve considered, this is a perfect time for creating an Estate Planning Trust. A Trust like this can help preserve and protect your assets for loved ones.

Perhaps you have a Last Will & Testament and think that you’re all set. Yet, while a will is great to have, Wills are not exempt from probate if you die with assets in your individual name. On the other hand, assets in a trust are exempt from probate. Without a trust, it can take months or even years for your beneficiaries to gain access to your assets after you pass away.

Funds in an estate planning trust may be available to beneficiaries in only a few days.

Make Sure You Have The Right Kind of Trust

It’s essential that you have the correct type of trust – there are several different types. Each type of trust serves specific purposes and needs. Some benefit spouses and family members, while other benefit charitable organization. You can even set up a trust for your pet. There is also a trust for loved ones with functional needs who will need to be provided for in specific ways. You will work with your attorney to establish specific terms for each trust. For instance, you may name your grandchild as the heir of your vintage sports car — but only after they graduate from college.

Include A Healthcare Directive in Your Trust

Many estate plans include a Healthcare Directive. This provides guidance for your loved ones and medical providers about the kind of care you want to receive if you are seriously ill or injured and unable to communicate your wishes. I insist my clients have this important document in their estate plan. Your estate plan can also establish your end-of-life desires.  This way, you can clarify the details of when, where and how you wish to be laid to rest. Thus, your family does not have to make these decisions. It’s such a wonderful feeling to have everything arranged in advance so your loved ones do not have to think about these details.

So many people talk about establishing an estate plan. However, they often procrastinate until it’s too late.

A trust could also protect your assets from creditors during your life should debt or a lawsuit become an issue. Counting your blessings is wonderful. Protecting your blessings through Trust Planning is even better. Give my office a call at (470) 235-7868 and let’s get your assets protected so you can feel even more confident in counting your many blessings.

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!