The Estate & Asset Protection Law Firm Founder, Victoria L Collier, Offers An Overview Of The Four Different Types Of Estate Planning
Estate & Asset Protection Attorney, Victoria Collier, realizing that the beginning of a new year motivates some people to begin looking into establishing an estate and asset protection plan, offers an overview of the four types of plans and cautions against going for a plan based on cost alone suggesting that one would be best served by going for a value-based plan.
DECATUR, GA, March 2, 2020: Victoria L. Collier, founder of The Estate & Asset Protection Law Firm, has posted a new article on her law firm’s website entitled “Value-Based Versus Cost-Based Estate Planning.” Ms. Collier provides a very brief overview of four distinctive types of plans to be considered.
Collier writes, “With the start of a new year, many people who may have put off asset protection have made it a resolution to get it done this year.” She continues, “For those people, I say, “congratulations!” This is an important decision and one that deserves careful consideration when selecting an attorney to make it happen.”
“For starters,” says Collier, “there are several different types of estate planning, some of which do not include asset protection. And there are many different types of attorneys.” She elaborates, “Some attorneys will merely help you with the filling out and filing of documents. Others will spend the time to get to know you and your values and desires.” “This latter type of attorney,” Collier explains, “is going to cost more initially but will be well worth it when you or your loved ones are not met with surprises down the line.”
Collier clarifies that, “For those who are just beginning to explore the world of estate and asset protection planning, there are actually four different types. I’ll explain briefly here. (For a more in-depth discussion you might want to listen to my podcast at https://www.elderlawgeorgia.com/podcasts/four-types-of-estate-planning/)”
The first type of estate plan Collier presents is a will-based plan. She explains, “This is the most common type of estate plan that a majority of people use. Unfortunately,” she adds, “most people who use this plan think that is all they need and simply hire an attorney to create a will. This is the least expensive method of estate planning however it does not offer any form of asset protection. In our office we refer to this as the “I’m going to go through probate plan.””
The entire article can be read at https://www.elderlawgeorgia.com/blog/value-based-versus-cost-based-estate-planning/
About Victoria Collier
Victoria L. Collier, CELA founded The Estate & Asset Protection Law Firm to serve the legal needs of seniors when their health care needs increase. Victoria is also Co-Founder of Collier Scott Financial Solutions, LLC. At both firms WE BELIEVE that people should not have to lose everything they’ve worked a lifetime to earn and that every person is an individual who deserves respect and the highest quality of life possible, regardless of age or ability.
Victoria enlisted in the U.S. Air Force during Desert Storm, 1989-1995, and also served in the U.S. Army Reserves, 1Lt. 2001-2004, JAG Corps. Victoria is a national expert on the VA Wartime Pension for veterans and their widows who need additional assistance with activities of daily living and helping them qualify for and receive tax-free income from the VA to pay for it. Victoria graduated from Valdosta State University with a B.A. in Psychology and then University of Nebraska, College of Law. In 2014, Victoria was awarded with the Alumni Master Award from the University of Nebraska.
Victoria is a Certified Elder Law Attorney through The National Elder Law Foundation and has been named as the only attorney in Georgia as “Fellow” of the National Academy of Elder Law Attorneys (NAELA). Victoria was appointed by Governor Perdue to the Georgia Council on Aging, 2010 – 2016 and was awarded Dekalb County Veteran of the Year, 2013. She is the author of 47 Secret Veterans Benefits for Seniors; Paying for Long Term Care – Financial Help for Wartime Veterans: The VA Aid & Attendance Benefit. Victoria has co-authored several books: Blooper Episodes in Estate Planning, Don’t Go Broke in a Nursing Home, and Protect Your IRA: Avoid the 5 Common Mistakes. Most notably, Victoria co-authored the National Best Seller, The Road to Success, with Jack Canfield, author of Chicken Soup for the Soul series.
About The Estate & Asset Protection Law Firm
The Estate & Asset Protection Law Firm was established to serve the legal needs of retiring citizens. The Firm focuses its entire practice on providing strategies to protect independence, privacy, assets and taxes from the government. Victoria Collier has grown her law practice and financial services practice by providing excellent customer satisfaction with personalized wealth protection plans.