Picking an executor for your estate is an important part of setting up your estate plan. They will manage most of the estate affairs after your death, meaning you must trust them and view them as responsible. Many people will default lean toward relatives for that...
Common vs Solemn Form Probate in Georgia
In Georgia, probate is necessary for all wills, including assets over $10,000. When a will contains property, it must go through common or solemn probate. A will's executor typically determines which option to pursue when submitting the will to probate court. What is...
The ins and outs of estate taxes
As the executor of the estate, you are typically responsible for filing the taxes. As you begin this process, you could have many questions about the fine details. The Internal Revenue Service says that you have to file estate taxes if your loved one's estate exceded...
What are the advantages of a living trust?
Getting your affairs organized may seem like a daunting task. However, there are some tools and documents that can ease the estate planning process. While a last will and testament is an essential part of your plan, a living trust may be advantageous as well. Contrary...
When should you consider a bloodline trust?
Establishing a bloodline trust is a firm way to ensure that your assets remain in the hands of your family. A bloodline trust dictates where your assets remain, namely in the hands of your children and their descendants. There are major life changes that may prompt...
When should an executor sell a home in probate?
As someone named to be the executor of a relative’s estate, you will have many responsibilities in closing out the estate according to your family member’s wishes. One duty may involve the fate of the home your relative lived in. You may have to sell the property if...
Tips for avoiding family conflict while estate planning
It is important to plan for the future and put together an estate plan that includes a will, trusts and other documents. But if you are like many adults in the U.S., you may not have started your estate plan. According to a survey conducted by Caring.com, only 4 out...
Tax strategies for estate plans
Those working through their estate plans in Georgia quickly realize that the process reveals several opportunities to preserve assets to pass on to their beneficiaries. Many fear that after working their entire lives to accumulate wealth to then benefit their children...
What is a credit shelter trust?
Credit shelter trusts are a way for assets to transfer to heirs without paying an exorbitant estate tax. Sometimes, credit shelter trusts altogether avoid tax payments. These types of trusts are also known as Bypass Trusts or AB Trusts. If you are curious about credit...
When can I set up a special needs trust?
If you are considering a trust for your special needs child, you might be wondering when you should set one up. You might be in good health and have a well-paying job, so creating a special needs trust might feel unnecessary to you. The good news is that you have a...
