Experienced Cobb County Estate Planning Lawyers Providing Legal Services for Clients Looking to Protect Their Assets
Whether you are taking the kids out for a thrilling day at Six Flags White Water or just enjoying a quiet stroll around Sope Creek Trail, planning for what happens when you are no longer around is likely the last thing on your mind. When you are busy soaking up the sun and seeing the sights at Marietta Square and getting your organic produce at the Marietta Square Farmers’ Market, it is hard to think about things like wills, trusts, or estate planning – but the truth is that procrastinating when it comes to planning for the future may actually put your loved ones at risk. The goal of estate planning is not to consume your mind with death and dying, but to ensure you can live your life to its fullest without worrying about how your loved ones will get by should you no longer be able to provide for them. Call Oren Ross & Associates at (404) 436-1752 to learn how we can help.
Does Every Will Need to Be Probated in Cobb County, Georgia?
Many clients whose loved one left a will or who are getting ready to write their own will have concerns about the probate process in Georgia. While every will does need to be recorded and checked by the probate court to make sure it is valid, in some cases clients will find that only part of the estate assets need to undergo the entire probate process.
The assets that could require probate are those owned solely by the decedent without any other named beneficiaries or co-owners. If the decedent left any assets that had a transfer-on-death or payable-on-death designation such as a bank account or investment account, those may be transferred directly to the named beneficiary. The same might go for property owned in joint tenancy with a spouse, life insurance proceeds, and any assets held in a trust.
Are Trusts a Better Choice Than Wills for Estate Planning?
There are advantages and disadvantages to every estate planning tool, and it is hard to say that one is better than the other because it is a matter of analyzing each person’s situation and goals for estate planning in order to make that determination. For some clients, we find that a will takes care of all their needs, while for other clients we end up recommending adding a living trust to their estate plans.
Many clients prefer the control and flexibility that a revocable living trust provides, especially when one of their main goals is probate avoidance. Others do not like the costs associated with the creation of a trust and prefer to go with a will, which provides less control over asset distribution than a trust, but has lower up-front costs. However, wills must be probated, which often leads to attorneys’ fees and court costs greater than the cost of creating a Trust. For many people, the combination of a will and a trust is the most effective estate plan.
What Areas of Estate Planning Can I Get Help With?
No estate plan is one-size-fits-all and for that reason, it is recommended you seek the help of a professional to ensure you make the right choices to protect the future of your family. At Oren Ross & Associates, we help Cobb county families with many areas of estate planning, including:
- Estate planning for clients and their loved ones
- Living Trust set-up and administration
- Probate representation
- Special Needs Trust set-up and management
- Business succession planning
How Can Finding the Right Attorney Be Beneficial?
When looking for an estate planning attorney, it is a good idea to do your research and be proactive. You can reach out to our office and ask questions, tell us your needs, and let us provide guidance.
You will not only want to find someone with the right knowledge and licenses, but also someone who you are comfortable working with. Choose a law firm that focuses on estate planning, and ask plenty of questions. At Oren Ross & Associates, our primary focus is estate planning. We offer skilled and experienced services with professionalism and compassion. Call our office at (404) 436-1752 to learn more.