How to Use Life Insurance in Estate Planning

Many people consider how to use life insurance in estate planning. But are they doing it right?

Have you thought about life insurance in estate planning? Who doesn’t like to think they are smart? The question is, how exactly do you determine just how smart you are especially when you’re young? Being smart in life is not necessarily based on how well you did in school or how much money you’re making. Smart is how well prepared you are for whatever challenges you meet in your life.

When you are prepared, and are not taken down by life events, that’s real smart.

Using life insurance in estate planning is one way you prepare for life events wisely.

This is why I encourage every adult from the age of 18 to be smart and invest in an estate plan and life insurance while young. The younger you start the more capable you’ll be able to face challenges later in life. If you have a family, the more able you will be to meet their needs should anything happen to you.

Among the many reasons to form an estate plan early in life includes the opportunity to appoint a trustworthy individual to make health care decisions on your behalf should you become incapacitated.

An estate plan is also important for protecting your finances, digital assets, and pets if you die.

Yet another reason to create an estate plan while young is to protect the life insurance payouts you intend to go to specific beneficiaries. What you don’t want your loved ones to receive are any surprises.

As part of a well created estate plan, life insurance plays an important role.

It helps as a means of leaving money and assets while potentially accessing some tax advantages. Depending on the type of policy, life insurance can be a way to leave a nest egg for your heirs to claim. And, importantly, a will won’t supersede the beneficiaries listed on a life insurance policy. In most cases, the beneficiary listed on the life insurance policy has the right to claim the payout regardless of the instructions in the will.

If you want to feel super smart, whether you are single or just starting your family, or you’ve already started your family and are ready to make a solid plan for their protection should anything happen to you and/or your spouse, give my office a call today at (470) 235-7868. Not only will you feel smarter, but you’ll also feel a great sense of relief knowing you and your family are prepared to face life on your terms.

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!

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Stacy McKenzie

21:58 07 Feb 24

Shannon and her team were great. Went in for a consultation and got my money worth. She explained and made sure we understood. I will be using them in the future.

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Waheed Hamid

18:55 17 Dec 23

We had excellent service from Shannon and her team, they are true professionals and helped us and explained every step in the process. We highly recommend The Estate and Asset Protection Law Firm.

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Stephanie Deal

15:22 07 Jul 23

My father and I recently used the estate, an asset protection, law, firm for new wheels, new, power of attorney’s, and a creation of a trust. Brooke and her entire team could not have been more helpful and more professional! We loved working with them, and they took everything seriously therefore I didn’t have to worry about a thing. I highly recommend everyone at the law firm.

Barry Amos

01:22 01 Jul 23

Great firm. Had answers to all our questions and explained everything clearly. Never felt rushed to make a decision Could not ask for a better experience. Every one we dealt with was professional and knowledgeable. We highly recommend this firm for estate planning.

Lee Jay

21:30 28 Jun 23

Shannon provided invaluable information regarding a family estate matter. Although her firm did not quite fit our immediate needs, the consultation was informative and extremely HELPFUL! Shannon clearly explained what our next steps should be and offered to assist if we had any questions along the way. Her expertise and willingness to help puts her in a league of her own!

Alice Guppy

02:01 23 Jan 23

Shannon and everyone at The Estate and Asset Protection Law Firm are professional, very knowledgeable, and a pleasure to work with. They answered all our questions in great detail and the plan they developed for us is exactly what we need to protect our assets and estate as we age especially with my husband's health issues.

Lynn McKibbin-Moore

23:09 24 Feb 22

My husband has dementia. This firm has been patient, kind and professional while we went through a move from a house of 37 years in to a condo to be closer to my daughter and her husband. (Miami to Atlanta). There was also a wedding. All in 6 months.We now have a trust, power of attorney. Wills for my daughter and her husband and more. All at a fair price. I could not recommend higher.

Tammy Lee

22:03 29 Jan 22

Shannon Pawley and her team are exceptional at helping families navigate tough situations. We began working with her upon finding out my father had Stage 4 kidney cancer. His decline was more rapid than expected.Attorney Pawley and her entire team expedited paperwork that allowed me to focus on my father’s care, make decisions that suddenly needed to be made for him medically and financially, and has allowed me the ability to focus more on grieving and less on legal matters upon his passing.It is obvious she is knowledgeable about the best ways to navigate estates to protect the assets for the owners and their loved ones. It is just as obvious that she is passionate and has true heart for what her clients go through.We will be using her for own estate needs, and I recommend her expertise to everybody I can.This service is worth every penny we paid as it has saved us more money and time than I could imagine.

H Jessie Brewer

18:26 18 Nov 21

Attorney Shannon Pawley and paralegal Alexis McCoy are legal professionals that my wife and I highly recommend. Their grasp of the Georgia law pertaining to Medicaid assistance and the interworking's of the State department is exceptional. Additionally, their client-attorney relationship skills are excellent. We wouldn't hesitate to use this law firm again should the need arise.

Dawn Hardy

15:06 13 Nov 21

Shannon and her team are the best! They listened to my needs and provided the best advice. They are patient and professional as well as personable, they didn't make me feel like I was just another client. Highly recommend!