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Georgia residents in the thick of estate planning are probably familiar with the term “life estate.” It refers to any property that you’d own and use for the entirety of your life that’s jointly owned with someone else. The person who owns the property - the life...
There are several options for Georgia families thinking about what to do with the family home during estate planning. The family home, for many people, is meant to be preserved. However, dividing the asset among the beneficiaries might be more prudent. Taxes and...
When a Georgia resident who owns property in another state passes away, their estate goes through two types of probate. During probate, the decedent’s last will and testament is validated, the estates debts are settled and its assets are distributed to beneficiaries....
Your reluctance to speak with your parents about their estate plan is understandable. The conversation will bring up the unhappy subjects of death and dying. On top of this, many parents want privacy for their financial affairs. Despite emotional barriers, Georgia...
One of the most important steps in creating an estate plan in Georgia is to name an executor. The executor of an estate is responsible for finalizing a person's estate when they die. That includes inventorying the person's assets and debts, valuing the assets,...
Making use of beneficiary designations may help to ensure that assets are transferred in a timely manner after you pass away. However, it's important to understand that they take precedence over anything that you write in your will. It's also a good idea to review a...