Estate planning and asset protection planning frequently go hand in hand. Assets that are held as joint property could turn out to be problems in the event that the surviving spouse has a significant amount of debt. If you have not thought about the best way to pass things on to your heirs while also keeping those assets protected, everything can fall apart if you were to suddenly pass away. This can leave beneficiaries dealing with unnecessary stress and frustration.
This is why it is so important to have a meeting with your estate planning attorney and to ensure that all the assets are titled and insured appropriately. In the event that they are not, the estate could be held up with delays in court as debtors attempt to gain access to those assets.
It can also be challenging if you leave assets outright to beneficiaries. This means that assets may be unprotected from divorcing spouses, outside influences, creditors, predators and lawsuits. An experienced and knowledgeable Georgia estate planning attorney can help you discover the right strategy and instrument in order to protect your interests now and well into the future.