P lot Y our F inancial F uture The ABCs of Wills and Trusts
PROBATE Probate is the court process used to review the assets of someone who has passed away. When you have a will, it must go through this public procedure so the judge can determine if the will is valid and distribute your assets properly. However, if you opt for a trust, you avoid the lengthy and costly probate process, and the information remains private. A trust ultimately gives you greater oversight and control of your assets. COST Trusts are more costly and complex to establish than a will, a relatively simple document. However, a trust will give you more administrative power over your assets and immediate access to your funds. With trusts, the trustee can choose how to manage the assets throughout their lifetime. For example, money could be withdrawn from the trust to cover funeral costs if someone dies. The court would determine whether it was a valid expense if you had a will. Additionally, trusts allow you greater management over your legal
fees. You can spell out how much to pay your trustee versus a will, where the designated executor can apply to probate court to withdraw money. PEOPLE When you select a trustee to manage your trust, the court can’t overrule your choice. Often, people choose family members as trustees, but choosing the individual with the best financial skills is wise. Being able to designate your trustee can help you protect what is most important of all: your children. Your trustee, not the court, will manage your child’s assets based on your wishes. They typically will take care of medical care, education, etc., and wait to distribute principal until the children are at the age or station in life you designated. While both wills and trusts are essential tools in estate planning, they cater to different needs and circumstances. If you need assistance creating the right estate plan, we’ll guide you through the process.
Navigating estate planning can feel like a maze, especially when distinguishing between key documents like wills and trusts. Though both legal instruments help you designate your wishes for your assets and the legacy you leave behind, there are some significant differences between them. Understanding how each instrument functions will ensure you select the right option to secure your future and protect your assets.
From ‘Legally Blonde’ Inspiration to Family Law Champion M eet E mily M c C larty Each of our attorneys at The Manely Firm brings dedication, expertise, and passion to the practice. We love to highlight their incredible contributions and share their unique stories. Associate Attorney Emily McClarty joined us in our Marietta Office last May and has already significantly impacted our clients. As one of our Spanish-speaking attorneys, Emily can help clients
Before applying and entering law school at the University of Wyoming College of Law in 2020, Emily had a defining experience when, out of nowhere, she applied to be a camp counselor at a summer camp. While there, she saw many children from broken families and the foster system. Being able to connect with the struggles children faced within families in crisis grew her passion for family law. Emily attended law school during the height of the COVID-19 pandemic, which she said was a challenging time. Her first year was completely online, and she completed most of her coursework in her one-bedroom apartment on Zoom. Emily was drawn to The Manely Firm because she wanted to make a difference in the lives of families in Georgia and beyond. She loves the opportunity to use Spanish to influence and help abroad and in the States. The firm has been an absolutely remarkable place for her to start her legal career, and she values the supportive environment where she can always ask questions.
through family law proceedings in two languages. She has even done some international work for us in Hispanic-speaking nations. “I have spoken Spanish my whole life,” she says. “My mom moved from Cuba in the 1950s, so I learned the language from her and my grandmother.” Emily said it’s hard to tell where her passion for the law came from, but a popular movie is what led her to pursue a career as a lawyer. “As corny as it sounds, ‘Legally Blonde’ is what got me really interested in it,” she says. “It’s just classic and funny, and [the main character, Elle] aspired to do great things, so it piqued my interest.” Knowing she wanted a career in law, she also decided to choose a major to fall back on. She graduated from Georgia College and State University in 2020 with a Bachelor of Science in economics.
her beloved cat and gets together with friends from her church group several times weekly.
The most rewarding part of the job for Emily is “seeing the smile on people’s faces when the struggles come to an end. Reuniting a parent with a child or seeing a family come back together; it’s almost like a star in front of your eyes, going from dim to burning bright again.” Emily’s mission of child advocacy shines like a brilliant star every day, and we are so proud to watch her grow her career with us.
Outside work, Emily enjoys crafty things like cross- stitching and knitting. She loves spending time with
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