Time For A Late Summer Review Of Estate And Asset Protection Plans

Summer is drawing to a close.

There are, however, still plenty of long lazy days before the buzz of fall begins. I often suggest that people use some of this late summer down-time to review whatever legal plans have been put in place for long-term estate planning and asset protection. And, if you don’t have a plan, this slower time is perfect for scheduling a meeting with an Estate and Asset Protection Attorney to explore your options.

The Following Five Areas Often Require Frequent Reviews

1.Successor Trustee. Who have you appointed to step into your shoes and take charge if you become incapacitated? Do you still trust this person 100%? Has anything in this person’s life changed that would affect his or her decision-making abilities concerning your legal affairs? Has there been a recent dispute in the family? What is the order of succession of trustees? If you have any questions whatsoever about your order of succession it may be time to make changes. Your Trustee is the most important estate planning decisions you make, so you’ll want to make sure you are always comfortable with your choice.

2. Family Transitions. Has there been a change in the marital status of anyone named in your will or trust? Has there been a birth of a child or grandchild? If so, your estate plan may need to be amended.

3.Life Insurance. When is the last time you checked the owner of your life insurance policies and the beneficiary designations for those policies? Some life insurance should be owned by an irrevocable life insurance trust to avoid the estate tax.

4.Health Care Surrogate. If you have a child over 18 who is now in college, it is highly recommended that he/she gives you legal authority to make medical decisions on their behalf. Remember, once your child turns 18, they are an adult, and you have no legal authority to make any legal decisions on their behalf.

5.Estate Plan Review. Has it been more than three years since you reviewed your estate plan? If so, you definitely want to review to assess whether your plan continues to meet all the needs of your family.

When Significant Life Events Affect The Legality Of Your Plan

As you can see, life’s continuous seamless forward motion can have an adverse effect on the best laid plans. Marriages, births, deaths, divorces, illnesses, accidents, irreconcilable disputes – without question, they keep life interesting, challenging and must be kept up with for the legal enactment of your estate and asset protection plan. If you realize significant events have occurred that will have an effect on the legality of your current estate and asset protection plan, give us a call to schedule a meeting. We will review it with you and make the necessary changes.

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.

Diane J

23:10 24 Jan 24

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.

Virgil Price Young

20:16 18 Jul 23

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!