There is such a thing as being penny wise and pound foolish, and at the root of this lies the concept of value. Precious few things in life are free, and we all have expenses. The key is to get good value for your money, and in some cases investing a bit in some good advice can actually wind up providing you with a net gain in the long run. This is certainly true when it comes to Atlanta estate planning.
Transferring assets to your loved ones after you pass away can be achieved in a number of different ways. A lot of people equate estate planning to the simple drafting of a Last Will. Of course you can use a Will to state your wishes and many people do.
However, this is not your only option, and depending on the various forms that your assets may be in and the specific nature of your wishes you may want to employ multiple different vehicles of asset transfer. Each situation is different, and this is one of the many reasons why you would probably do well to avoid the do-it-yourself estate planning kits and software that you see advertised online by Internet marketers.
People are not generic beings who live generic lives in the same jurisdiction with identical resources and intentions. To be sure that your wishes are carried out in a legally binding manner you need a personalized estate plan that is specially crafted for your unique situation.
There are also things to consider beyond the transfer of assets, such as financing your retirement years and addressing potential long-term care costs. If you develop a good relationship with an estate planning attorney early on, he or she will provide you with the guidance that you need to achieve all of your long-term goals as the latter stages of your life draw near.
Pyke & Associates, P.C. is a member of the American Academy of Estate Planning Attorneys.