Know your rights with estate planning

some notable contenders include Medicaid, creditors, debtors, and of course, the government.

Estate planning isn’t about how much money you have. It’s about protecting what you have for you and your loved ones. Whether your estate plan includes just a Will and Power of Attorney, or if you’ve set up a trust, estate plans go a long way in making sure that what you leave behind goes to the people you care about.

So, what is an estate plan and why should you create one? To answer the second question first, Georgia is a state in which the right of survivorship is not automatic - meaning that you could lose control of your house if your spouse passes away while owning the property jointly. Not to mention, if you don’t prepare an estate plan that avoids probate court, you could lose a significant amount of your assets, as probate court is the only way to reclaim an estate - even if you have a will. In probate court, anyone can go after the assets of your loved ones, but

The last thing anyone wants to do is to have to fight for the assets of their loved ones right after losing someone precious. That’s why an estate plan is essential if you want to leave your family with a peace of mind. An estate plan is an asset protection plan that focuses specifically on ensuring that what you own goes to the people you want it to go to. Simple estate plans generally include establishing a trust, which is one of the few ways to avoid probate court. More advanced plans will include not just a trust, but also a healthcare directive, Power of Attorney, will, and many more documents to prepare for every scenario.

If you pass away tomorrow, are you certain that everything will be in good hands? If not, then it’s time to start strategizing to make sure no court battles or obscure law will take what you own from you.