Are new estate planning documents (Will, Trust, Financial Power of Attorney and Advance Directive for Health Care) needed when moving to a new state? If there’s a good chance that your move will prove to be either an extended Continue reading →
Georgia House Bill 122 to change the Rule Against Perpetuities for trusts. Georgia irrevocable trusts are currently limited to a maximum of 90 years. The proposed change will assist families with legacy planning and protection of assets Continue reading →
House Bill 122 introduced in the Georgia General Assembly in week 2 of the Legislative Session proposes to expand the number of years a trust may hold assets. Currently, the limitation is 90 years. This duration is not an issue Continue reading →
Clients have many misconceptions when it comes to Probate. This article will help clarify the more common uncertainties. First off, having a Will does not avoid probate – it is merely a roadmap in which to navigate Probate.
Have you ever worried about what would happen to your animals after your death? Would there be someone willing to step in to love and care for your pet? Can you name a pet as a beneficiary in Continue reading →
Although there are many good reasons for their implementation, Revocable Trusts are too often promoted for the wrong ones. Revocable Trusts are commonly referred to as Living Trusts or Revocable Living Trusts (hereinafter referred to as “RLT”) and are promoted as a way to avoid the costly, time-consuming, public spectacle of PROBATE.
Assisted living and nursing homes can be scary thoughts for many of us as we enter our later years of life. Thinking about the possibility that we may find ourselves or our loved ones in need of moving to one of these care facilities can be difficult to bear. However, the reality is that the longer we live, the greater our chances are of needing long-term care outside of the home.
Estate Planning is much more than just signing your Last Will & Testament. Many clients believe that a Will supersedes all other contracts and designations. In reality, the outcome is completely the opposite. A Will only controls “probated assets.” What exactly is a probate? In practice, the probate consists of assets not otherwise distributed or handled at your death. Essentially, they are the assets remaining in your name that do not have joint ownership or designations; a bank account that was in solely your name would be “probated” and passed down according to your Will. The following are examples of assets that pass outside of probate and are thus not controlled by your Will.