The formation of a Will is a very important task because Wills can provide for your family members that survive you, provide stability during a difficult time for the family, and make hard decisions about allocating assets easier on your loved ones.
A basic Will package from the O'Quinn Law Firm, LLC includes 3 documents: the Will, the Advance Directive for Healthcare, and the Financial Power of Attorney. This package documents your wishes so that if you are alive and unable to communicate someone will know what choices you would make and someone will be able to handle your financial matters while you are incapacitated and/or recovering. These documents cannot be created after a person loses his/her capacity to understand what is being created.
The formation of a Trust may be useful with a complex or detailed estate plan. A Trust can be useful in a variety of client circumstances.
Each Trust is a unique document established to achieve specific client goals. Please reach out with questions regarding whether you think a trust may be right for you.
O'Quinn Law Firm, LLC
After a loved one has passed, Probate is the process of legally allocating the deceased person's assets to his/her beneficiaries or heirs. If a person passes without a Will, then the person's assets are divided according to Georgia law.
Many people find it surprising that Georgia Intestate laws (the applicable set of laws when a person dies without a Will) divide assets between a surviving spouse and the deceased person's children, unless specified otherwise in a Will or by the way the asset is titled.
Issues of how assets are legally allocated can become complex and should be discussed to ensure that your assets will move to the intended recipients.