After death, a Georgia resident's debts become part of his or her estate. As noted by Bankrate.com, the deceased's estate has liability for paying any taxes owed and the balances left on consumer debts such as credit cards, car loans and mortgages. An estate may also...
Ways to transfer an estate’s IP rights
When it comes to transferring wealth through estate planning, a few things may come to mind: houses, possessions and money. But in the case of creatives like authors, artists or inventors, intellectual property is another aspect of that wealth. It is important for...
Planning for long-term care with different types of trusts
Estate planning is something anyone can do at any age, but one topic that may be hard to face is long-term care. Planning for LTC involves the heavy subject of potential physical or mental disability that leaves someone incapable of managing their affairs. Trusts help...
When is a simple will enough?
A common theme among estate planning articles is that a simple will is not enough. Do not let these articles scare you as, for most people, a will is more than sufficient. According to Dave Ramsey, a simple will is a document that lets you outline what assets you want...
What are living trusts?
Two big pillars of estate planning are wills and living trusts. Most people are familiar with the concept of a will: it is a document that can act as a guide for distributing assets or making arrangements after one's death. For instance, you can use a will to ensure...
What happens if I don’t have a will?
Like other states, Georgia law specifies what happens when a resident of this state dies without leaving a will or other estate planning documents. Basically, if a person is married at the time of the death, then the spouse will receive the entire probate estate. If,...
An estate plan takes care of many needs
When planning your future, you should think about your family and business and what happens if you are unable to make decisions. Careful estate planning can help assure that these needs are met. An estate plan can assure that there are trusted agents to oversee and...
What do I need for my will to be valid?
It is not only important to have a will but it is also important that the will is valid and will accomplish the estate planner’s wishes after they are gone. As a result, it is helpful for estate planners to know what makes a valid will. What makes a will valid can...
How to store estate planning documents
Many Duluth area residents have taken the time to create their estate plan. They understand that having this in place can alleviate stress and offer peace of mind. Since these documents are so important, storing them safely is critical. Those who have created an...
Choosing the right guardian for your child
If anything were to happen to you, you’d want your child to be in the best care possible. While this scenario is never fun to think about, it’s important to plan for – just in case. But choosing the best guardian for your child is not an easy task. There are many...
