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May 2018 Archives

Protecting beneficiaries in regard to wills and trusts

When a Georgia resident sits down to prepare his or her estate plan, passing down wealth to loved ones is often the top priority. In some cases, however, beneficiaries could actually be harmed by their inheritance. Part of the estate planning process should include examining how wills and trusts could have unintended negative consequences for loved ones.

Communication is essential in regard to wills, trusts

When it comes to estate planning, the importance of proper communication cannot be overstated. Drafting wills, trusts and other estate planning documents is important, but so is communicating the provisions held within to loved ones. While these may be difficult conversations to have, the end result is a far easier process for those Georgia residents named in estate planning documents.

What is a Medicaid spend-down?

If you fear that your Georgia parents are approaching the age when they may need the services of an assisted living or nursing home facility, you should help them begin planning for this possibility as early as possible. In all likelihood, your parents are not sufficiently wealthy to afford long-term care, and Medicare will not pay many of these costs. Consequently, your parents may need to apply for Medicaid as their only option.

Many Americans haven't created wills or other financial plans

According to a survey conducted by Wells Fargo, as many as four out of 10 Americans over the age of 65 have not taken steps to secure their estate planning wishes. That can create a real problem for loved ones who have little guidance in the absence of wills and other documents. There are steps that can limit financial vulnerability for Georgia residents, but a proactive approach is required. 

For some, wills must include cryptocurrency information

Structuring an estate plan is a demanding task, even for Georgia residents with relatively simple asset types. For those who invest money in many different ways, creating wills and other estate planning tools that cover all the bases can be even more of a challenge. That is especially true in cases where cryptocurrency plays a role. 

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At Hodges Law Firm, we handle a wide range of legal issues for clients throughout the Atlanta area, including elder law, estate planning, probate, Medicaid planning and protection, asset protection, litigation, and business law and services. We are knowledgeable in the law and understand the real life implications of legal actions.