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.
Attorney Richard S. Bryson, with Bryson Law Firm, P.C., hosted a live teleconference on avoiding costly litigation when resolving trust and estate disputes on December 3, 2014. The seminar was designed to educate estate and trust attorneys, accountants, Continue reading →
The bad news … money and assets are lost and never recovered by loved ones of the departed in a high frequency of estates.
The good news (or at least not so bad news) … the total value of money and assets lost is likely less than $1,000.
It comes as no surprise to anyone that action or inaction by Congress in 2012 will drastically alter the estate tax landscape. The estate tax exemption (i.e., amount of assets not subject to estate tax at your death) will go from $5 million to $1 million in 2013 if Congress does not act. Planning for this uncertainty can be challenging. The best plan for many clients is to implement a “disclaimer” plan in which the surviving spouse gets to decide how much to “disclaim” in setting up estate tax avoidance trust.
Executors should always check for unclaimed property as part of the administration of estates. Georgia has an unclaimed property section of the Department of Revenue. The following address directs you to the search screen. If the estate is outside of Georgia, use Missing Money Website to search.