As a parent of a child with special needs it is difficult to know how much independence to give. As they approach adulthood teens push to make their own decisions. Although you might want to give them their space, a guiding hand can be necessary especially when it comes to keeping them healthy. You might already recognize this area as a touchy subject. Often children with disabilities would rather not take an Read More

A Georgia parent who is working on their estate plan may be concerned if they feel that one or more of their children make poor decisions with money. They might wonder whether it would be fair to set different conditions for one child that do not apply to the other. People can place assets in a trust for a child or for anyone they would like to leave an inheritance to. For example, the trust can be set up so that a Read More

“Live each day as if it were your last–and someday you’ll be right.” That’s a funny and apt sentiment from writer/director Woody Allen. Embrace life, enjoy it! But there is also a very somber note to it: we all will die one day. Are you prepared? Let’s face it, it’s not a pleasant topic. And we all hope for, and probably will get, a long and happy life. But if you are not prepared for the eventuality of death, you Read More

Estate planning is an important process to Georgia residents. It is not just something that wealthy people should be concerned about, and it does not just deal with happens to a person’s assets after he or she dies. One important aspect of estate planning is preparing for becoming incapacitated and end-of-life care. This includes protecting assets from the cost of long-term care. Long-term care insurance might help Read More

For many people, a will is sufficient for estate planning purposes. However, there may be situations when a living trust better fits an individual’s needs. For instance, those who care about their privacy may want to create a trust. Assets in a trust generally don’t go through probate, which is the process of distributing assets after the head of an estate passes away. In addition to being a public process, probate Read More

While an irrevocable trust may help with asset protection and lower estate burdens, they may not be right for everyone. Once the trust is created and assets are put in it, the assets belong permanently to the trust until distributed to the beneficiary. An irrevocable trust may be created and funded while a Georgia resident is alive or created during life and funded after the grantor passes away. Examples of trusts Read More

The differences between an inheritance and a trust lie mainly with the tax-related benefits inheritances have gained over the years. With the lowering of tax rates and more exemptions, the advantage of the inheritance can outweigh the hassle and expense of the creation and administration of trusts for Georgia residents. However, financial professionals still view trusts as excellent financial vehicles. With the taxes Read More

Georgia residents who want to preserve their family wealth for their future beneficiaries may not be aware of some somber statistics. By the second generation, 70 percent of family wealth has dissipated while by the third generation, 90 percent has been lost. A wealth transfer plan may prevent this from happening. Families lose their wealth for several fairly predictable and consistent reasons. Heirs may be Read More

The answer is any time you face a major life change is the right time to update your will. A marriage, divorce, a birth or adoption of a child, a move between states, anything that changes who your beneficiaries are is a valid reason for changing your will. Doing this promptly helps to eliminate confusion, misunderstandings and hard feelings later on. Major life changes can include events that happen to extended Read More

When it comes time to retire, people don’t just think about how they will pay for retirement; they also think about how they will pay for the kind of care that they want in the event that their health declines. The solutions you consider will invariably depend on your financial resources and your goals for your long-term care needs. If you plan to use Medicaid to support your care needs, for example, you should Read More