Shannon Pawley, The Estate & Asset Protection Law Firm Owner, writes about two common estate planning mistakes that can create frightening situations for beneficiaries and likely render the estate plan null and void.

DECATUR, GA, October ••, 2023: Shannon Pawley, Owner of The Estate & Asset Protection Law Firm, has posted a new blog on the law firm’s website entitled “Two Spooky Things That Can Happen To Foul Up An Estate Plan.” Ms. Pawley highlights unfunded trusts and unfound original estate planning documents.

Pawley writes, “Several very common mistakes that can truly spook your beneficiaries while undoing all the good planning that went into the creation of your estate plan can easily be avoided. Read on,” she says, “and please take action if any of what follows applies to you.”

First up in Pawley’s article is the inability to find original documents. Pawley writes, “For starters, let’s agree that people can die suddenly and unexpectedly. That in and of itself is scary enough.” She continues, “One thing that happens frequently particularly, but not exclusively in sudden death situations, is that no one can find the original estate planning documents.” According to Pawley, “So many things unravel if your family only possesses a copy of the estate plan – without knowing where the original documents are.” As Pawley notes, “Whether death comes unexpectedly or not, original documents are required for the courts. As an example, if the original Last Will and Testament cannot be located, then it is the general presumption of the court that the original must have been destroyed by the owner of the document.” She continues, “This is why it is imperative to safely house your original documents and make sure that your loved ones know where the documents can be located.” “Sometimes,” Pawley notes, “the original documents may be kept at the office of the attorney that created the documents. However, most people put their documents somewhere “safe” and don’t tell anyone where they are and ultimately forget where that safe place is.”

Next Pawley turns her attention to unfunded trusts. She writes, “A Revocable Trust is often an important part of an estate plan. The benefits of a Revocable trust include avoiding probate, maintaining privacy, and providing for a smooth transition of asset management in the event of the Grantor’s incapacity and/or death. But,” she adds, “the benefits are only achievable if the trust is properly funded during the Grantor’s lifetime.” As Pawley explains, “Failure to fund the trust can lead to probate, increased costs, delays in asset distribution, and potential legal disputes.” She states, “The way the trust is funded is that the grantor must re-title assets into the name of the trust. Many people fail to do this after they’ve created the Trust. Or, in some cases they re-title their assets into the Trust incorrectly.”

The entire blog can be read by CLICKING HERE

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. Shannon Pawley has grown her law practice by providing excellent customer satisfaction with personalized wealth protection plans.

About Shannon M. Pawley, J.D., LL.M

As the owner of The Estate & Asset Protection Law Firm, Shannon M. Pawley and her entire team share a passion which focuses on being able to serve the legal needs of retiring individuals. In our firm, 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. We also believe that privacy and protection are the keys to personal peace. Born and raised in the Tidewater area of Virginia to a tightknit family with strong military service roots, Shannon learned from an early age the value of hard work and the importance of social awareness to ensure you always leave a situation in a better place than how you entered it. In her junior year of high school, Shannon served as U.S. House of Representatives Page during the 101st United States Congressional Session in Washington, D.C. This experience exposed her to numerous new cultures and worldly issues. Walking away from her experience as a U.S. House of Representative Page, Shannon knew that she wanted to pursue legal studies and be able to assist others in obtaining the best results available in difficult situations.

Shannon earned her undergraduate degree at North Carolina Wesleyan College and pursued a law degree from Michigan State University College of Law. After obtaining her law degree and becoming a licensed attorney in Michigan, she continued her educational pursuit by acquiring a LL.M. (Master of Law) in Taxation from Wayne State University. After moving to Georgia in 2018, Shannon obtained her Georgia law license and has enjoyed being able to pursue her desire of ensuring persons are able to age with dignity, grace and independence.